Tuesday, January 8, 2008

Virtual Office, -$1633. Dow, -238.42, 12,589.07.

Retard, $452 on 4 contracts traded.
$374 on 5400 shares traded.
Evolution, $239 on 24,400 shares traded.
Wincity, $51 on 300 shares traded.
Denarii, $20 on 1600 shares traded.
Me, $18 on 15,800 shares traded.
Misstrade, -$2787 on 6000 shares traded.

Sellers are control freaks.

There was carnage everywhere, but the biggest story has to be CFC. The nation's largest mortgage originator rumored to be going bankrupt. That'll have a few repercussions...

Volume on the NYSE was strong as we traded over 1.8 billion shares. Also, it should be noted that volume was running light in the morning when the market was flat to up... it really kicked in when the selling began.

Still, with that said, after 8 straight down days in the Nasdaq (the record is 14) you'd expect some type of "relief rally" soon. But with sentiment so negative, I kind of think a better name would be "suckers rally."

And no one wants to be the first sucker... so this could take awhile.

NOTE: I'm still trading on a simulated account.

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