Thursday, September 25, 2008

The RO Report, "Congress Wins" Edition

Well, it looks like we'll have a full-fledged bailout done by Monday.

No matter how I feel about the matter politically, as a trader I'll be happy when it's complete. That way, the market can get back to trading with some conviction. Volume was slightly ahead of yesterday's levels, but at 1.2 billion, still pretty poor.

The weak volume didn't matter much to the RO. Most traders stacked. I guess we had good price movement and that made up for the volume.

There was a somewhat fishy reversal at around 3:40 today, when the MOCs were published. Despite the bullish tone in today's trade, the MOCs were mostly to the sell side. The market got punched, only to bounce decently in the last few minutes. Who knows where it's going? "The Fly" says he hasn't been this bullish since 2006.

I'm not really feeling that, but then again, I don't have a time machine.

Anyway, out of 21 traders, 16 were positive, or 76%. 10 traders finished up over $1,000 gross. With the slight increase in volume today, and those RO stats, I feel better being a little more aggressive again tomorrow. I was #8 of 21. Still down on the week after my bout of "manservitude" two days ago, but within sight of the green.

I'm just happy I can post some good tunes this evening.

Here are today's Bosses.

1. Trader B, $14,661 on 277k shares traded.
2. Trader A, $10,790 on 219k shares traded.
3. Trader F, $5,462 on 85,ooo shares traded.
4. Trader H, $5,176 on 500 shares traded.
5. Trader Z, $4,471 on 93,600 shares traded.

And the Manservants.

1. Trader C, -$1,584 on 193k shares traded.
2. Trader D, -$349 on 204k shares traded.
3. Trader T, -$319 on 6,200 shares traded.
4. Trader 5, -$282 on 100 shares traded.
5. Trader 3, -$238 on 2,200 shares traded.


Jorge said...

JP Morgan just bought WaMu

Jawbreaker said...

This whole thing is a complete nightmare. The U.S. market has become a joke. Totally busted out. I saw "IBM" is now on the no short list. Just ban all short selling and get it over with already. I can see this being extended till the end of the year. Has everyone noticed that not only is there no volume but absolutely no liquidity also. If the ban is indeed extended till year end i will pack it in for the year. Fuck it, i will not let these criminals empty my pockets with a totally corrupt trading market.