Wednesday, April 23, 2008

Virtual Office, -$66. SPY, -.22, $137.78.

Sanglucci, $722 on 51,200 shares traded.
Me, $659 on 7400 shares traded.
OBAT, $215 on 6800 shares traded.
Ainkurn, $128 on 400 shares traded.
Denarii, $3 on 6008 shares traded.
Retardo, no trades.
Dehtrader, -$1793 on 2450 shares traded.

There were ridiculous moves in stocks today... again, the agriculture names, (specifically LNN, CF and POT) and the coal stocks were nuts. Oh, and the metals had their fun as well.

In this type of environment, traders should be stacking cheese. But the VO has been somewhat cursed of late. We haven't had any big gains in awhile. Hopefully, this will soon change.

I don't think it's a coincidence that the VO has gone all lame with the complete lack of volume that April has provided. I know I sound like a broken record, but it's just not normal. My only explanation is that volume must be shifting away from the NYSE. I guess since hybrid market inception the stock is down 40% or so... coincidence? I think not. They lost their niche.

The NYSE is nothing but an ECN now, and it's really sad.

I haven't posted any freaky hybrid trades in awhile, but check out the open on EDU or FCL today. Shit like that freaks traders out...

Anyway, enough about that. More dinner guests, so no daily post. I caught some LNN on the bounce and short BG off $120 resistance. Those were my best trades of the day. I had wonderful entries on many other trades, namely CF and AGU longs at around 10:00am, but only with small size. The best news, was that my biggest loser was $15.

Hillary is a pirate hooker. As is Sanglucci... top man again.

Where's Evolution???


Sanglucci said...
This comment has been removed by the author.
Sanglucci said...

I just crushed this Apple afterhours for a g-pack and change... Hope you guys stuck around to see it if you haven't yet take a damn look the moves that guy made were DISgusting!!!!

Bluedog said...

What do you think caused the action in EDU and FCL? How would you restructure to get better price action?

joshtrader1 said...

i completely agree that volume has left the nyse, but i think overall volume is low as well

Dinosaur Trader said...


If you're familiar at all with trading on the NYSE pre hybrid, then you know moves like this didn't happen... at least not as quickly and on such light volume.

Just say you're some dude, who looked in the paper last night and thought EDU was a good investment... back in the day, the stock opened when the buy orders and sell orders were paired off and a fair price decided upon. Yes, there was volatility at the open, but it wasn't like, you could buy 100 shares at $71.50 and 2 minutes later expect to be out the money $150 with no volume or news... I think the hybrid market, in its quest for faster execution, has missed the point... people want BETTER execution... not just faster. This happens when there is some structure to the order flow...

@joshtrader, Thanks for the comment. Yeah, I need to find out a way to get aggregate numbers on esignal... anyone know how to get total volume? I'll check their site tomorrow when I have some time. But I think you're right, overall volume is also declining.


Bluedog said...

I traded pre-hybrid, but I wasn't daytrading so it was less obvious to me. Do you think an exchange like NDAQ (pure ECN) has worse imbalances than one like NYX which has a human component? You oppose the hybrid system but what would you prefer - pure ECN or back to trading in the pit? NYX is in a tough position as it tries to use specialists but also improve speed, accuracy, transparency, etc. Just curious what your thoughts are. It seems the world is pushing all exchanges to go all electronic.


Rob said...


EDU and FCL are an OO'ers dream.

(yes i tried to use as many acronyms as possible.)