Wednesday, November 7, 2007

Nighttime Reading

I learned a lot from this article.

Turn off those useless outside lights!

A True Trading Disaster

For the record, this is the first time I've ever been 40 points out of the money.

I'm not trying to be flip about this trade or anything... I guess I got short at $164 or so.

It's almost humorous. Meanwhile, we got a "cheap pizza" tonight... no "Mardi Gras."

It's a bad trade, it blew up my swing account, and I'm moving on. There are two lessons I take away from this:

1. Things can always get worse.
2. Should they "get worse" life still goes on. Gotta keep moving.

I will keep making money in my daytrading account, re-fund my "swing account" and hopefully not make this type of fucked-up mistake again.

Odd Nosdam, "Kill Tone"

If there's one instrumental you listen to this year, let it be this one. Featuring birds and "baby-baby" my daughter's favorite doll.

Meanwhile, don't expect a daily post tonight. I'm turning my crap off.

Virtual Office, $5034. Dow, -360.92, 13300.02.

Evolution, $1448 on 91,700 shares traded.
Me, $541 on 41,300 shares traded.
Denarii, $130 on 800 shares traded.
Akalawoo, $48 on 1 contract traded.
Wincity, no trades.
Stewie, no trades.
OBAT, -$68 on 14,000 shares traded.
Dehtrader, -$135 on 3480 shares traded.

Wow, well we blew right past those lows from October 19th at 13,407.

It's hard to really read how serious this sell-off is though because at this point, it's clear that so much volume is trading off of the NYSE that the volume numbers I report each night are basically irrelevant. We traded about 1.6 billion on the NYSE today. Good, but not worthy of this market move. I'm sure there was tons traded elsewhere that would really blow these volume numbers up.

If you were silly enough to watch CNBC at the end of the day you were treated to Maria making a fool of herself once again as she breathlessly explained that the market on close sell imbalances which come out EVERY DAY were going to take the market down in the last 10 minutes.

"I can only tell you that things are going to get worse in the next 10 minutes," she explained. I guess that first 320 points had nothing to do with us losing another 40 more there at the close. It's called a "trend" Maria, and it's going down. Please, CNBC... do something about her.

The VO did okay today, but really, I thought we'd have some big numbers.

I have shit to do right after the close so my daily post will be late.

UPDATE: I just blew up my "swing" account by shorting FSLR into earnings. In retrospect, that was dumb. The stock is up $30 afterhours. I was short 100 shares. Luckily, I covered the other 200 I was short before the close.

The $40 Pizza, Part 1

The other evening, Judy took our daughter out to a "book party." That meant I had 4 hours all to myself. The first thing I did, was to call in a "Mardi Gras." The "Mardi Gras" is a pizza, but calling it a pizza is like calling Melissa Theuriau a "woman."

To be absolutely clear, the "Mardi Gras" is the best pizza ever conceived by man.

It's loaded with shrimp, jalapenos, andouille sausage, tabasco, and onions. It's truly a "man's pie." In fact, it once made a less manly friend of mine cry... true story. After I eat a "Mardi Gras" Judy will avoid me for a full day because you don't digest a "Mardi Gras" as you do normal food... Instead, you sweat it out... you breathe it out.

Anyway, I drove the 20 minutes to "Pizzacatos." I hadn't been there in awhile, but I found an old promotion punchcard in my wallet... one of those things where if you buy 10 pizzas, you get the next one free. Ours had been punched 7 times.

I handed it over with $40 to the girl behind the counter (the "Mardi Gras is a $24 pie). She looked at the card like it was some weird crazy thing that confused her. She cocked her head, made a WTF? kind of face and walked into the kitchen holding my card up to the light as if to verify it was a real object. She also took my $40.

I stood at the counter and stared longingly at my pie sitting atop the pizza oven. A TV was tuned to Fox News and some lobotomized looking man sat at a table, watching the show and nodding while practically drooling all over himself.

"Fucking lemmings," I thought.

A fat woman swung open the kitchen door. "We don't take these anymore," she said, holding up the promotion card as if it were a toddler's dirty diaper. I stood there, blinking wordlessly for a moment while she continued, "Oh yeah, we stopped using them a long time ago" in order to emphasize the fact that I hadn't dined there in so long that I was completely out of touch with their policies and therefore didn't deserve much respect.

She was a big woman with many "creases."

She reached up, grabbed the pizza box and slid the pie across the counter to me, all the while staring me dead in the eye.

Due to the confusion with the card, the intimidation by the "creased" woman or my elation at having the pie in my hands, I forgot to pick up my change. Like a pervert buying a porn mag, I made a quick exit while averting any unnecessary eye contact with the other patrons. I walked nervously to my car and sped off.

I didn't realize that I had paid $40 for my pizza until I was nearly home. I thought about turning around right then, but instead thought of "the creased one" and told myself that I'd just call the restaurant and pick up the money the next time I was in the area. I was really hungry and just wanted to get inside to be alone with my "Mardi Gras."

I pressed a little harder on the gas pedal and made it home in record time, narrowly avoiding a raccoon as I made a quick turn onto my block. I bounced over the curb and parked hastily in my driveway.

"Mardi Gras" in hand, I marched triumphantly and purposefully towards the back door. I grappled my keychain with my right hand while holding the "Mardi Gras" with my left, all the while balancing on my left leg as my right held the screen door open.

As I stood there balancing, I realized the real problem... I didn't have my house key.

Part 2 tomorrow.

Freaky Hybrid Trade Of The Day! FLR!

Yesterday in my daily post, I highlighted how the Hybrid Market has ruined trading in illiquid names like BAP. However, lest you think that the Hybrid Market only wrecks havoc in low volume names, take a gander at this 1 minute chart for FLR today.

Really, is going from $144.50 to $151.50 in 3 minutes an orderly market in a stock that trades millions of shares a day?

Short answer is "no." They Hybrid Market is an abomination on many levels. We're almost at the year anniversary and I can already hear the NYSE getting ready to tout it's success with a big PR bash. However, I still can't find any traders defending this joke of a market. Where's the much promised "price improvement and matching?"

Meanwhile, I made money shorting FLR this morning... so don't go thinking I'm just bitter or something. I just can't stand what has become of the NYSE.

Strong Oil, Weak Dollar. Time To Horde Food

Nuts, dried beans...

Meanwhile, I'm not even going to turn on CNBC. I can't imagine they're saying anything useful.