Friday, October 3, 2008

Artifacts, "Wrong Side Of The Tracks"

"Trader B's" musical selection.

Note... I have entered a new label for "boss music."

The RO Report, "The Close Sucked" Edition

In the last few weeks, probably 80% of the RO's profits have been made in the last hour and a half each day. The last couple of days has seen a straight reversal of that trend.

I would have been a boss today, had I not traded the close... ah well, next week I will be trading a little more cautiously. The bailout news is behind us. Now it seems, we're waiting on a possible surprise rate cut.

"Trader B" schooled the RO today. From now on, whenever the top boss just completely outperforms the rest of the group, I will ask them to pick the evening musical selection.

Anyway, it's Friday, let's get right to it. Out of 21 traders today, 12 were gross positive, or 57%. I think the RO is turning into a pretty good indicator for judging the trading environment. When 75% of more of the traders are gross positive, shit is on. I was #10 of 21. Positive, but frustrated by a huge giveback. The office was up today, so the Bosses are back on top.

Have a good weekend.

Here are today's Bosses:

1. Trader B, $48,545 on 853k shares traded.
2. Trader D, $18,006 on 256k shares traded.
3. Trader K, $9,324 on 163k shares traded.
4. Trader O, $1,525 on 17,800 shares traded.
5. Trader L, $651 on 94,200 shares traded.

And the Manservants:

1. Trader C, -$30,051 on 658k shares traded.
2. Trader F, -$6,336 on 170k shares traded.
3. Trader R, -$4,226 on 78,944 shares traded.
4. Trader E, -$3,563 on 81,400 shares traded.
5. Trader Z, -$2,758 on 156k shares traded.

Art Cashin

(paraphrasing what he just said on CNBC)

What's keeping us from totally rolling is the idea that Bernanke said they'd use "every tool in the toolbox."

We come in Monday and if the commercial paper market hasn't loosened, the idea is that the Fed may come in Monday and cut 50bp.

How I Feel About The Bailout

(h/t Wall Street Fighter)

NOTE: Okay, this post hasn't gotten any discussion. I thought for sure it would. That's a cat. On the cat, is taped a piece of bacon. That's fucking hilarious. What's wrong with you people?

Bailout Bill Passed

No thanks to the Republicans, who voted against it 91-108. Well, now the Dems "own" this bill. Should it work, they'll get all the credit. Should it fail, they'll get all the blame.

So much for "changing the partisan tone" in Washington, eh?

Larry Kudlow And Dennis Kneale Should Be Unemployed

Why are they still on CNBC? I mean, for the last year, all I remember is Dennis Kneale telling people that we were "talking ourselves" into a recession and Larry Kudlow telling everyone that the "Goldilocks economy" was alive and well.

People are so pissed off at Wall Street, how about getting pissed off at the right wing propagandaists on CNBC who have been pushing the Bush Administration's economic talking points during this crisis?

Just wondering.

(Meanwhile, anyone know how I could get their pictures side by side?)

The Daily Show - Clusterfuck To The Poor House

I'm Voting Republican...

Now that Palin won the debate, (told you so) I figured I spring this little vid on you (h/t Dinosister). Sure it's a little over the top, but it's funny.

Meanwhile, in another of example of "DT Wins Again!" since I've been intentionally spelling "Palin" "Pailin" in my post titles, many unsuspecting Republicans who typed "Pailin Wins Debate" were treated to my post with the hot blond chick and the media criticism.

Yesssss! Love those phonetic spellers. In fact, if you watched the debate, I'm sure we can deduce that Palin spells "nuclear" "new-cue-lar."

I found her manner of speech cute, more like, adorable.