Monday, April 14, 2008

Virtual Office, $178. SPX, -5.80, 1329.80.

Ainkurn, $290 on 250 shares traded.
Me, $170 on 6600 shares traded.
Dehtrader, $146 on 2750 shares traded.
OBAT, $11 on 8400 shares traded.
Timmay, no trades.
Retardo, no trades.
Sanglucci, -$439 on 10,600 shares traded.


Shhhh! The VO is sleeping...

I can't remember the last time that volume was so low on the exchange. We traded just over 1.1 billion shares on the NYSE. My main office got killed today, I think they all got caught up in PBR somehow but I'm not sure exactly what happened.

I, for one, made some good trades in the morning, but wasn't aggressive enough. The carnage in my main office told me to trade lightly. Then, at 10:30 I went to the beach to surf for 3 hours. So I don't have loads of color... but based on the anemic volume and the numbers coming out of my main office, I don't think it was a happy day for active traders.

Anyway, hopefully we get some action now that earnings season is upon us. However, I feel oddly pessimistic about the whole thing... like it will be worse than ever or something. Clearly, the environment for prop traders has changed radically in just a few weeks and guys who aren't switching their game up are getting punished.

There's lots of opportunity out there though... a huge amount, in fact, in the same sectors that have been moving for weeks, the coals, ag names, oils, and financials.

Pick your spots. Don't overtrade this market.

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