Friday, May 16, 2008

Virtual Office, -$5530. SPY, +0.16, $142.69.

Me. $428 on 7200 shares traded.
Timmay!, $346 on 5600 shares traded.
OBAT, $231 on 8400 shares traded.
Denarii, $77 on 3200 shares traded.
Ainkurn, -$152 on 200 shares traded.
Tokyo, -$218 on 190 shares traded.
Retardo, -$6242 on 40 contracts traded.

Holy fucking shit! I made over $400! Last time I made over $400 was way back on April 24th.

It's been a grind...

But the VO isn't just about me... there are other third-tier bloggers we need to discuss. Take Retardo for example. Dude sits on a position for weeks and then gets blown out of the water. Best thing he can do now is get famous like HPT and make a viral blowup video or something... at least that might get him laid. Go click some ads. Together, we can bring that loss down to $6240.

Speaking of viruses, check out this cartoon... I loved it.

Anyway, nice reversal for the bulls today. But guess what... we're still stuck at unlucky 13,000 on the Dow.

In fact, I'm going to make my year-end prediction for the Dow right now... 13,000.

All weekend, I'll be stuck in churches and luncheon places celebrating communions. It's gonna suck. However, I'm in such a good mood today that it isn't bothering me much yet. Tomorrow, when I re-enter my customary bad mood, I look forward to passing loads of gas-guzzling SUVs and laughing scornfully at the drivers.

Enjoy your weekend.

NOTE: Check out this classic post from "the Fly." Kind of describes how I've been feeling about the market for the last few months.


wincity said...

Good end to your week, DT.

Holly smokes, Retardo. At least he didn't suffer in vain: your readers will undoubtly realize now that options could end up worth less than toilet paper.

I've been there. The feeling was rather strange. All day on Friday, I'd pray the stupid toad drop a couple of more points so I could double my money. And it was getting awfully close. My heart sunk when it went back up. Now I'd be losing thousands. How dramatic. Then at 4:00 PM, all hope was gone and thousands of dollars just suddenly went to hell.

I couldn't believe it even after many days. So f*cking unreal. I've never played options until today when I lost lunch money hoping to make hundreds.

Jorge said...

I've only been trading a year but even some of these mistakes are just mind-baffling. Why the hell would you sit on a position and not take some off the table when it's doubled? That's 100% profit.. play with the damn house's money. Couple of folks in the thinkorswim chat rooms trade futures without any stops. WTF is that?

If you don't go into a trade with a game plan, you deserve to get your ass beaten. Doesn't matter if it's stocks, futures, options, or whatever. Maybe I'm just starting to become jaded.

Best Fast Money intro though.. love Blues Brothers.

Dinosaur Trader said...

Traders take losses because they are human.


Jorge said...

Losses are always a part of game. Depends how small you want to keep them :)

S. said...

Good end to a good week! And I should probably thank Retardo for saving me from having to sit in the bottom spot for the second day in a row...