Tuesday, September 16, 2008

The RO Report, "AIG Conservatorship" Edition

Well, today didn't turn out exactly how everyone planned, right? All the newspapers were talking about "panics" and "meltdowns" and then we rally. Oh, and this guy, who yesterday was nearly able to call the exact closing price of the Dow, said the world was going to end.

Apparently, the iBC machine caught a touch of "gay" overnight.

Moving forward... there were crazy rumors about AIG all day that were impossible to decipher... they're being bailed out by NY... no wait, they're only being bailed out if.... the FED is doing nothing for AIG... no wait, the FED is back at the table.

It made the day somewhat choppy. Oh, and we had an FOMC meeting to deal with.

Also, at first glance, you may look at the NYSE volume and be like, "Volume is BACK!" However, you'd be wrong. In fact, the volume was heavily concentrated in AIG... over 1 billion shares traded there. Insane.

Take a gander at CEG. That stock undressed traders and spanked them before buying them Fioravanti suits. In fact, word is that "Trader F" was down $70k in that stock alone before getting a "bailout" via a nice V bottom.

Despite the drama, it was a good day for the office minus one blow-up. Out of 22 traders, 14 finished gross positive, or 64%. 7 traders finished up over $5,000 gross and 12 finished over $1,000 gross. I was #14 of 22, but solidly in the green.

Anyway, here's the top 5:

1. Trader B, $24,217 on 882k shares traded.
2. Trader F, $17,379 on 234k shares traded.
3. Trader A, $13,057 on 120k shares traded.
4. Trader Z, $12,204 on 208k shares traded.
5. Trader E, $5,966 on 200k shares traded.

And the bottom:

1. Trader D, -$62,025 on 375k shares traded.
2. Trader N, -$6,946 on 23,000 shares traded.
3. Trader H, -$3,767 on 3,400 shares traded.
4. Trader P, -$1,841 on 157k shares traded.
5. Trader T, -$1,521 on 6,900 shares traded.

See you tomorrow. Oh, and if you enjoy reading this RO report each day, fucking link it or something... tell your friends. It's important for me to influence as many people as possible.

UPDATE: AIG may be placed under conservatorship. The shares are tanking after-hours. Here's a little Q&A on what a conservatorship is.


Danny said...

lets be clear - I am calling for lower prices - I never said the world was going to end today. Reread it if you have to.

Dinosaur Trader said...

"The world is going to end on September 16, 2008."



HPT said...

AIG is fucked. Mark the end of the markets THIS WEEKEND. WAMU and AIG= TOAST!

Danny said...

Um, no.

The title was in reference to the day's events.

sentence one: "Today was a massive day, and I think the road to a much lower stock market."

huge bold print: "To express that more eloquently, this indicator, which measures the distance between all stocks and their respective 50-day MA’s, has NOT deviated enough to indicate a meaningful bottom. There is no way we bottom with the majority of stocks above their 50-day MAs."

conclusion sentences: " It could be just a steady downward movement that persists for a few weeks like June/July, or it could be a sharp decline and washout — time will soon tell, and frankly I could make a case for either side.

With American International Group, Inc. (AIG: 3.75 -21.22%) ’s rating downgrade coming out after hours and the futures already down, tomorrow will no doubt be another one for the record books.


you are a dumbass DT.

Dinosaur Trader said...

"It's impossible for the market not to trade drastically lower, immediately, like by tomorrow, therefore, ending the world."



Danny said...

DT, I will smite you with thunderbolts and vast pestilence.

Justin said...

Hey DT, does your RO have monthly trader p&l numbers? Would be great to see monthly numbers also. J/W Thanks!

Dinosaur Trader said...


Sorry, no. However, if you're truly interested, you'll notice that often, the same traders A,B,D,E,Z,F make the report. So by doing a little back checking, you could easily add a few up. I just focus on the daily numbers for now.