Tuesday, July 29, 2008

Sonic Youth, "Bull In The Heather"

Great song, but I have to say, the dancing girl with pigtails is mildly annoying at least.

The RO Report

It was a good day for the RO. I only have approximate numbers, since there's a problem with the software that generates our report. I also don't have up/down percentage... and that sucks, because it's my favorite number.

I had my best day since January today. But I was way down on the office list, as many traders made good size.

Here's the top 3:

1. 18k
2. 15k
3. 15k

And the bottom:

1. -$10k
2. -$1,500
3. -$1,000

As for the Costco post, I'm still working on it. Instead of editing it today, I got my haircut, where I witnessed two septuagenarians duke it out...

One guy was there just to get his mustache trimmed, and when the barber asked the other dude to just wait 1 minute for him to trim the dude's mustache (who arrived after the other dude, so he was technically behind him in line) a yelling match ensued. As you can imagine, I had great fun with this even though I pretended to be very interested in a 2003 issue of National Geographic. People are just silly.

As for the market, it's on crack.

A Solid Morning

I'm very happy with my trading performance today. Yesterday was my worst day of the month, and I started today in the red due to early losses in CAM and an ill conceived short in CQB.

CAM was an HCPG play that chopped around, and CQB was a short based on the weakness in FDP, which got "destructed" after it reported earnings.

So after getting "smokeled," I cut my size and made good decisions to get back to green and then make up my losses from yesterday and then some.

First, I caught a short in CF after he couldn't regain his high and made a little over a point.

Then, I bought some AKS on the strength in X and made a little over a point. Also, the whole time I was riding BEAV down. It was the first time in a while where I had a few trades all working out at the same time and it felt great.

Still, volume in the market is light today, so I'm not pressing my luck.

In the summer, when the volume is low, there's a different flow to the market. Trade the morning, take the middle of the day easy, and then see how things close.

Trade Mondays very lightly (volume is always very low on summer Mondays), get a little more aggressive Tues-Thurs, and then trade Friday morning and take off in the afternoon.

Save your energy for this fall and give your eyes a rest. Enjoy the summer weather while you can.