Monday, September 22, 2008

The RO Report, "Ban Oil Buyers" Edition

Seriously... the rip today in oil is unreal. Hank Paulson should immediately ban speculation. People should only be able to buy oil on a downtick. However, it would be better if people just couldn't bet on the upward price of oil at all. Why? Because people who are trying to force the price of oil higher are hurting America.

That is obvious.

Anyway, after a quiet morning, the RO heated up in the afternoon. The funny thing about not being able to short banks and insurers, is that everyone is looking for other things to short instead, since we all feel like the market is ultimately headed down, despite the government manipulation.

So the RO was short REITs, and the REITs tanked.

It was very un-American of us. Maybe in a few years, or perhaps a few short months, we'll be forced to do hard labor, for making money in the stock market in such an un-American way.

I also want to note the lack of volume today... after trading over 2 billion shares most days last week, trading 1.2 billion today felt really awful... perhaps all the shorts who were going to cover covered on Friday. And now, with no one who really wants to buy this market, the only thing people can do is "take profit."

Anyway, after two good days, I got complacent today and missed the really good money that was made between 3 and 3:30. I applaud the top of the RO for being able to maintain focus, after such ridiculously good days last week.

Out of 19 traders today, 15 were positive, or 79%. 4 traders finished up over $10,000 gross, and 11 finished up over $1,000 gross. I was #11 of 19.

Here are today's "bosses."

1. Trader D, $25,411 on 324k shares traded.
2. Trader Z, $18,381 on 93,400 shares traded.
3. Trader B, $12,644 on 567k shares traded.
4. Trader A, $10,462 on 420k shares traded.
5. Trader F, $4,445 on 74k shares traded.

And the "manservants."

1. Trader P, -$14,472 on 51k shares traded.
2. Trader C, -$3,525 on 131k shares traded.
3. Trader H, -$1,461 on 8,200 shares traded.
4. Trader I, -$886 on 17,800 shares traded.
5. Trader 3, $240 on 3,400 shares traded.


OffTilt said...

Is "trader 3" in the office or remote?

Jared said...

What did everyone do over the weekend after killing the market and someone like "Trader D" just killing it with $500 freakin thousand in just two days? Anyone drive a Ferrari now that didn't a few days ago? lol

Nice job guys!

Dinosaur Trader said...


Trader 3, I believe, is in the actual office.


I don't think it's set in just yet. However, it's a good conversation topic and I'll bring it up with "the boys" tomorrow.


Stewie said...

DT> are you guys all working in one location? or can different traders still be in the RO from different locations?

Dinosaur Trader said...


There's a main office, but we have remote traders everywhere.