Thursday, September 18, 2008
This is the kind of day that traders will remember forever. They will either remember the money they made, or think about the money they could have made, or think about the money they lost.
The RO made... and it made BIG.
Odd shit started happening when the Dow dipped below 10,500. The selling in many stocks, STT, FII, and too many others to list, hit total panic levels.
Did you see GS drop below 100 and shoot down 15 points faster than you can say, "Regulation SHO?"
That, in case you didn't notice, was panic selling... it's the type of selling that makes bottoms. Indeed, shortly after that, JPM, WFC and USB starting showing strength and the market never turned back.
Two days ago I was telling my father to buy a gun to protect himself from the hordes of crazed people that were gonna scour the suburbs of NYC in search of food. But the disease of short-term traders is acute myopia. If you're not RIGHT THERE, stuck in the exact mood of the market, then you're really not able to do your job correctly. You have to feel extreme fear and you have to experience extreme greed.
Why? Because if you don't experience and feel it, you won't know it when you see it. Today we saw extreme fear. The flipside of panic selling, is always panic buying.
Anyway, I'm not ashamed to not have made the top 5 today. I did well. The fact is, the RO is home to some expert fucking traders who risk a shitload day in and day out. Again, props to "Trader D." Don't forget, 2 days ago, he lost $60,000. You think you could lose that much and come back like he has the last two days? Trust me, that's not normal. It takes a special personality type. Needless to say, today was the best day ever for everyone in the top 5.
So out of 21 traders today, 17 finished gross positive, or 81%. An astounding 5 traders finished up over $100,000 gross, 8 finished up over $50,000 gross, and 12 finished up over $10,000 gross. I was #9 of 21, and had my best day since starting this damned blog... just.
So here you have today's top 5 "bosses."
1. Trader D, $342,763 on 934k shares traded.
2. Trader B, $196,351 on 908k shares traded.
3. Trader A, $123,231 on 934k shares traded.
4. Trader F, $118,189 on 455k shares traded.
5. Trader Z, $107,472 on 473k shares traded.
And today's top 5 "manservants."
1. Trader H, -$2,791 on 9,400 shares traded.
2. Trader V, -$989 on 108k shares traded.
3. Trader I, -$817 on 41k shares traded.
4. Trader T, -$459 on 9,000 shares traded.
5. Trader 3, $233 on 3,000 shares traded.
Again, the RO is always looking for serious traders. If you have the Series 7, or don't mind studying a month to take it, email me for information.
Look, shouldn't they be happy with the 950 points in the last 2 days? They're not. Now they're going after our women.
Folks, this is war.
UPDATE: Apparently they have. My office was upset by that photo and put the bottom in. We have a couple guys up 6 digits at 2pm. Take a look at STT.