Wednesday, October 1, 2008
Out of nowhere, the market went lame on us today. It's a news driven market right now, which in my opinion, makes trading tough.
It all depends on your style though. Trader B was up over $35,000 at one point today, so I guess he's fine with it.
We're all just waiting. We have the Senate vote, the Big Debate, and then the House vote. And oh yeah, remember economic numbers? We have the jobs report on Friday. Someone may be paying attention to that as well.
You go down 800 and then up 500 and then you go into a holding pattern. That's how fast you have to change gears.
Anyway, out of 19 traders today, 10 were gross positive, or 53%. I was #9 of 19, or slightly positive.
Perhaps more important, is that the office as a whole was gross negative today, which hasn't happened in a while. 7 traders finished up over $1,000 gross, but 7 traders also lost over $1,000 gross. Kind of ugly.
In short, the "manservants" took it to the "bosses" today. Accordingly, I'm putting the manservants "on top."
Here are today's Manservants:
1. Trader C, -$25,488 on 86,700 shares traded.
2. Trader F, -$9.291 on 224k shares traded.
3. Trader A, -$9,130 on 593k shares traded.
4. Trader K, -$3,509 on 50,500 shares traded.
5. Trader H, -$1,925 on 4,500 shares traded.
And the Bosses:
1. Trader B, $29,588 on 914k shares traded.
2. Trader D, $5,870 on 207k shares traded.
3. Trader J, $3,214 on 50,900 shares traded.
4. Trader G, $2,296 on 79,400 shares traded.
5. Trader Z, $2,188 on 119k shares traded.
-Governor Sarah Palin
I'm just calling this now. Already, the idiot media is picking up on the fact that the moderator is writing a book about politics and race and that therefore, she's in the Obama camp.
Once again, thank you "liberal media" for repeating Republican talking points. Way to go.
There's no way Biden can win this. The expectations have been set so low for Palin and now, even if she does lose, the Repubs will spin the blame onto the moderator.
"She asked too many tough foreign policy questions..."
Or not. There has been a lot of talk about extending the ban.
At 1pm the NYSE will be holding a live webcast discussing the matter. The volume is light today, might as well check it out and get the scoop.
Also, if you haven't noticed, Ray's blog has been a must read daily during the recent market turmoil.