Wednesday, September 10, 2008

Bruce Willis, "Respect Yourself"

I don't remember much about the 80s, because I was mostly a kid, but I guess irony didn't exist back then. The music videos are so painful to watch. Anyway, hattip to Dinosister for reminding me of this "gem."

The RO Report, "Smokefest" Edition

It wasn't always ugly for the RO today. At 3pm, a few traders were up over 10gs, and yours truly was comfortably up over a grand.

The problem was everyone was exposed to the long side. When the market sharply reversed, so did our fortunes, and drastically.

I'm particularly upset by my reversal, if only because I've been waiting for the bounce on these commodity and oil stocks. It's how I made my money early in the day, but once I closed those early positions, I had a hard time regaining good prices, and got chopped. Going into tomorrow, I don't have much conviction in either direction, and fear a consolidation day.

Anyway, here are the numbers. Out of 22 traders, 8 were positive, or 36%. I was number 6 of 22, gross positive, net negative.

Here's the top 5:

1. Trader N, $6,792 on 45,000 shares traded.
2. Trader B, $4,881 on 876k shares traded.
3. Trader G, $2,624 on 74,800 shares traded.
4. Trader L, $1,368 on 44,400 shares traded.
5. Trader H, $222 on 4,400 shares traded.

And the bottom:

1. Trader Z, -$19,569 on 283k shares traded.
2. Trader F, -$11,209 on 198k shares traded.
3. Trader D, -$9,589 on 217k shares traded.
4. Trader 1, -$3,788 on 27,200 shares traded.
5. Trader V, -$2,136 on 58,200 shares traded.

See you tomorrow.

The Real Pigs

The whole "lipstick on a pig" thing is Republican politics in a nutshell. 2 days of bullshit media coverage while the stock market is fucked, we're starting a new Cold War, and fighting another illegitimate war. No real issues to discuss I guess?

Thank you "liberal media."

The Republicans are smart. They confuse people with bullshit and wedge issues so they forget that the stock market has been stagnant for the last 8 years, that the economy is in the tank, that your tax dollars are doing more for Iraqi families than they're doing for American families, and that, oh yeah, now the government owns your mortgage.

The Republicans do not deserve to win. Don't let them forget about the last 8 years.

Hit the real pigs back, Obama. Not with bullshit, but with the plain truth about the last 8 years. Just keep swinging, it's a fight they cannot possibly win.

Unless the "liberal media" is on their side after all.

WAMU In Big Trouble...

Not going to be a pretty headline... two words... BANK RUN!

Black Math

Like a true Dinosaur, I used a calculator to figure out some percentage drops in the last 7 trading sessions. I wrote these down on a sheet of loose-leaf, and now share some of the more egregious drops with you.

It's ugly. With moves like this, I can only imagine this is pure unwinding of dead portfolios. Funds are fucked, redemptions will continue to soar, credit will remain tight, and the crash will come in October to leave behind the broken remains of George Bush's America.

That is, if they finally let us crash... or will they be able to forestall the inevitable until a new administration arrives?

Check out the carnage... this is just a sampling.

PCX 45.4% decline in last 7 sessions.
JRCC 42.1 %
MEE 42%
JOYG 39.5%
CHK 39%
BUCY 38.5%
EXM 36.4%
GNK 35.4%
AKS 34.3%
CLF 32.8%
SGR 31.4%
NOV 30.7%
CF 29.9%
FLR 29.8%
TRA 29.5%
MOS 28.4%
MDR 27.1%
POT 21.7%

And much, much more!!!