Thursday, September 11, 2008

The RO Report, "Pigs Flying In Frozen Hell" Edition

The tone in the chat room this morning was unbelievably bearish. Not one trader was considering buying stock... we all thought the "end was nigh," and that every company that has any exposure to "American dollars" was suspect and secretly on the verge of bankruptcy.

God Bless Bank Of America for once again, saving the market.

Apparently, rumors were circulating all day about a BAC buyout of LEH, but it wasn't reported until the very end of the day, so that panic short covering would paint the tape at the close most effectively, before people had time to think things through.

Just because BAC has a penchant for throwing good money after bad doesn't mean we're not doomed. Remember, they were the geniuses who threw 2 billion at CFC back when CFC was trading over $20. Remember that? ROTFLMAO!

Anyway, doom was the theme for the RO today. Out of 21 traders, 5 were gross positive, or 24%. Worse still, I, "Trader S" was the top dog. Trust me, I'd rather be top dog on a good day, so today's victory is bittersweet at best.

Here's the top 5:

1. Trader S, $1,474 on 37,000 shares traded.
2. Trader I, $744 on 18,000 shares traded.
3. Trader H, $469 on 2,700 shares traded.
4. Trader G, $463 on 220,400 shares traded.
5. Trader J, $336 on 100 shares traded.


And the bottom:

1. Trader B, -$22,043 on 1 million shares traded.
2. Trader Z, -$20,379 on 190k shares traded.
3. Trader F, -$8,600 on 258k shares traded.
4. Trader L, -$5,624 on 122k shares traded.
5. Trader O, -$5,602 on 112k shares traded.

8 comments:

wincity said...

Congrats on your #1 finish.

1 million shares traded! Incredible.

For the guys to lose $20K a day, does it affect their trading for the next little while?

Jorge said...

Trader S inflated his numbers. I have proof.

Bluedog said...

Congrats, DT! You're the top dog! I'm curious with the routine $20k ups and downs, what kind of leverage is the RO trading with? $500k?

BD

Jamie said...

Congrats DT!

Dinosaur Trader said...

Thanks guys.

Win, well they're all lettered, so you should be able to follow most of the bigger players.

For example, Trader Z has taken huge smokings the last 2 days in a row. So you could say that his large loss yesterday effected him today.

-DT

Soulfire said...

Every Dino has their day...congrats!

Wow to the dude who traded 1 million shares.....that's some serious day trading!

I'm curious- what are the benefits of being in a RO as opposed to the trader who just uses his own funds and account?

Dinosaur Trader said...

Soulfire,

Leverage, leverage, leverage, and access to an expert chat room.

-DT

Bluedog said...

DT,
What kind of leverage are we talking?...

BD