Monday, October 29, 2007

Nicknames For SWC

Let's come up with some fun nicknames for SWC now that it's over $11 again.

In trading rooms, it goes like this. You substitute a word for each letter of the symbol. So, taking a stab, SWC could be "Sucking Wookie Cock" or something like that (stock nicknames often err on the side of offensive).

Have fun!

Of Montreal, "Gronlandic Edit"

This band has always seemed very inconsistent to me. I like this song though.

Quiet Market

I got a flat tire this weekend. The market got a flat tire today. We barely nudged over 1.2 billion shares traded on the NYSE.

It was quiet out there in most stocks. However, the leadership of this market continued to motor along as the solars, shippers and fertilizers all ran higher.

My best stock of the day was DE, which I shorted around 10:00am. Funny that I managed to make money on the short side today in this stock when it closed up over 5 points.

My other best stock was WCG which I bought 100 shares of right after the open and sold about 3 minutes later after it ran up almost 2 points.

Other than that, nada.

I took my car into the garage to patch the tire, took a walk in town with my daughter and then read her a bunch of books while Judy argued with "customer service" idiots all day.

Hopefully tomorrow will be more interesting although I kind of doubt it. After the FED surprised everyone in September I think people are being very cautious ahead of this meeting.

Here's the stats:

P&L, $372
Best, DE, $184
Worst, POT, -$80

8400 shares traded.
10 stocks traded, 8 winners, 2 losers.
59 trades.

Virtual Office, $4945. Dow, +63.56, 13870.26.

Stewie, $3300 on 9000 shares traded.
Evolution, $427 on 32,000 shares traded.
Me, $372 on 8400 shares traded.
OBAT, -$12 on 13,200 shares traded.
Denarii, -$48 on 3200 shares traded.
Tapeworm, -$110 on 4 contracts traded.
Akalawoo, -$174 on 7 contracts traded.
Dehtrader, -$310 on 2900 shares traded.

After a string of days where we traded decent volume on the NYSE, we're back to quiet times. A lot of that has to do with the FED meeting on Wednesday, but still, we may not even see 1.2 billion shares traded today.

I've been talking here about the dwindling volume on the NYSE for months. Apparently, the NY Post finally took notice. And if the Post took notice, you can expect the new FOX Business Network to take notice as well... once they get involved, CNBC will too. This story will only grow.

Dinosaur Trader had it first... way back in March. The new price on this blog is $3 million.

Anyway, it was a quiet day for me but as "Sloth" over at Wallstreak said, there were still lots of stocks moving. The solars, the shippers, the fertilizers... check those sectors if you want to see some impressive strength.

Meanwhile, crude oil is up at $93.54. Wow.

I expect tomorrow will be slow as well. It's all about Wednesday at this point.

UPDATE: Blood on Bubs Street. See what happens when you quit the VO? And I bet he hasn't gotten laid either.

Disappearing Honeybees

For those who missed the 60-min special last night. Here's a small video about the problem.

Is The NYSE Hybrid Market Close To Being Shut Down?

"Yes," according to this article in the NY Post this weekend.

Rapidly losing market share doesn't seem to be a recipe for success. Perhaps the NYSE will listen more to traders next time and less to their institutional interests. I've never been able to figure out who the Hybrid system benefits.

Clearly, not traders... the people who use the system, so no big surprise that it's failing.

What say you, Ray?

Also... thanks to "Chris" for bringing this to my attention. I appreciate it very much when readers point out items like this. I'm a one-man show here and often, things slip through the cracks. My email is located in my profile page and you're always welcome to contact me with things you think I might find interesting.

(Meanwhile, my criticism of the hybrid model has been consistent from the beginning. In fact, it's why I even began this blog. You can real all of my posts dealing with the hybrid market here and here.)

Stock Earnings For Monday October 29th

Not much fun out there today. Click here for a full list. (Meanwhile, if anyone knows a blogger who reports exhaustive lists of stocks reporting earnings, let me know. I'd much rather link to a blogger than to Briefing.)

I think what I'll be doing is watching CF and AG pretty intensely. They both report earnings tomorrow and they're both in hot, volatile sectors. They could be fun to trade before they report.