Wednesday, January 2, 2008

Virtual Office, $2315. Dow, -220.86, 13,043.96.

Misstrade, $2000 on 1000 shares traded.
Dehtrader, $624 on 5706 shares traded.
Denarii, $48 on 600 shares traded.
OBAT, $7 on 10,200 shares traded.
Retard, no trades.
Sanglucci, -$364 on 21,450 shares traded.

Happy 2008. Watch out below!

We had our worst first day of the year trading session since 1983 as the Dow lost over 200 points to test 13,000 and close at 13,043.47. The ISM number tanked the market at 10am and we just never looked back. Oil traded over $100 for the first time ever... Michele Cabrusa Cabrera was on CNBC almost the entire day...

It was a bad day.

The "R" word is now being tossed around like it was nobody's business.

Volume was moderate with about 1.4 billion shares traded. The VIX rose .83 to 23.33.

It's going to be rough sledding for the foreseeable future in my opinion. Of course, I can't really act on my opinion since I won't be trading until next week, but still...

I need to whip the VO back into shape. It seems to be suffering from a post-holiday hangover.


HPT said...

I wonder who will visit the VO cemetery next.

I look forward to seeing more DEATH MATCHES this YEAR.

Happy New Year DT.

There was some good trading action today, which I didn't expect being the first week of Jan.

Dinosaur Trader said...


Perhaps a poll is in order...

I always like the first 2 weeks of January from a trading perspective. However, this is my first January in 8 not trading, so I'll take your word for it.


Bluedog said...

CBOT is factoring in a 100% likelihood of a 1/4 pt rate cut on 1/30, and a 63% chance of a 1/2 pt cut. Maybe this will help restore consumer confidence.

BTW, nice link to your site on NYSE's blog!