The Pixies, "River Euphrates"

The Pixies were my favorite band in high school.  That makes me so much cooler than you that it's probably almost impossible for you to comprehend.  I saw them in concert at a place in NYC that doesn't even exist anymore... see?  And the thing is, at that concert, some drunk chick nearly broke my face with the back of her skull.  You get it yet?  Anyway, great song.

The RO Report, "Ban Oil Buyers" Edition

Seriously... the rip today in oil is unreal. Hank Paulson should immediately ban speculation. People should only be able to buy oil on a downtick. However, it would be better if people just couldn't bet on the upward price of oil at all. Why? Because people who are trying to force the price of oil higher are hurting America.

That is obvious.

Anyway, after a quiet morning, the RO heated up in the afternoon. The funny thing about not being able to short banks and insurers, is that everyone is looking for other things to short instead, since we all feel like the market is ultimately headed down, despite the government manipulation.

So the RO was short REITs, and the REITs tanked.

It was very un-American of us. Maybe in a few years, or perhaps a few short months, we'll be forced to do hard labor, for making money in the stock market in such an un-American way.

I also want to note the lack of volume today... after trading over 2 billion shares most days last week, trading 1.2 billion today felt really awful... perhaps all the shorts who were going to cover covered on Friday. And now, with no one who really wants to buy this market, the only thing people can do is "take profit."

Anyway, after two good days, I got complacent today and missed the really good money that was made between 3 and 3:30. I applaud the top of the RO for being able to maintain focus, after such ridiculously good days last week.

Out of 19 traders today, 15 were positive, or 79%. 4 traders finished up over $10,000 gross, and 11 finished up over $1,000 gross. I was #11 of 19.

Here are today's "bosses."

1. Trader D, $25,411 on 324k shares traded.
2. Trader Z, $18,381 on 93,400 shares traded.
3. Trader B, $12,644 on 567k shares traded.
4. Trader A, $10,462 on 420k shares traded.
5. Trader F, $4,445 on 74k shares traded.

And the "manservants."

1. Trader P, -$14,472 on 51k shares traded.
2. Trader C, -$3,525 on 131k shares traded.
3. Trader H, -$1,461 on 8,200 shares traded.
4. Trader I, -$886 on 17,800 shares traded.
5. Trader 3, $240 on 3,400 shares traded.

Down Goes The Dollar, Up Goes Oil

That's right... oil is up $14.50 on the DAY.



Thank you government bailout. Not only do you save the fucked up institutions that are costing taxpayers billions, but you're also helping to create a massive spike in the price of oil, since you're crushing the dollar.

Again, the little man is screwed.

Who Are You Voting For?

There's only 43 days left until election day... let's see if my readership gets this one right.

Who are you voting for?

1. McCain/Palin
2. Obama/Biden
3. Nader/Gonzalez

The Market Is Gay Again

Well, we were due for a letdown after last week's fun. Volume is down, stocks gapped all over the place, and it just feels were due for a day of death consolidation.

Sure the guys in the office are trading, but at this point, 70% of the office is down, and "Trader 3," up $66 on the day, is in the #7 position.

Perhaps we need to wait until Wednesday, when Bernanke and Paulson get "grilled" by Congress.

Will be back for the close.

NOTE: A few more companies were added to the "short ban" list. Ray has the details here.

They Might Be Giants, "Road Movie To Berlin"

I posted this song a few weeks ago, but here's the thing... listen to it NOW.

Obviously, it's not about the financial crisis... however, it's about some crisis, and I feel it makes a lot of sense to post it now, again. Lyrics below.



We're in a road movie to Berlin
Can't drive out the way we drove in
So sneak out this glass of bourbon
And we'll go.

We were once so close to heaven
Peter came out and gave us medals
Declaring us the nicest of the damned.

Time won't find the lost
It'll sweep up our skeleton bones
So take the wheel and I will take the pedals.

We're in a road movie to Berlin
Can't drive out the way we drove in
So sneak out this glass of bourbon
And we'll go.