Thursday, October 16, 2008

Atmosphere. "Scapegoat"

"Trader B" spray selection. Nice day.

The RO Report, "Solid Rally On Volume" Report

The surf sucked... too windy.

However, the market rocked today. BTW, I hope the little graph with that trendline helped a few of you out... it was rather perfect I must immodestly admit. Once we broke that line at around 2:45, we based, tested, and then BOOM volume came in and the market never looked back.

Anyway, it was "Trader B" who brought the line to my attention, so it's only fitting that he sprayed the office. A huge spray, in fact. Good thing I can still post music from iMeem, because I don't know if I'll ever be able to post an end of day video at this rate.

I think today was a very healthy day for the market. Very healthy. The volume was excellent and we made what could end up being some sort of messy double top on the VIX. If the VIX were a stock, I'd be taking profits.

That makes me feel good about the bottom. Also, I think the stock market quite possibly put in its low.

Look, I still have that dinner party to get to, so I'm getting straight to the numbers. Out of 28 traders today, 24 finished gross positive, or 86%, an excellent number. 15 finished over $1,000 gross, which is also nice. I was #9 of 28, nicely positive, but slightly disappointed with my finish, given my conviction about the afternoon market move. The Bosses win again.

"Lucky Pierre" - Trader B, $82,713 on 881k shares traded.

2. Trader D, $36,232 on 694k shares traded.
3. Trader A, $27,208 on 331k shares traded.
4. Trader Z, $20,722 on 246k shares traded.
5. Trader F, $11,932 on 274k shares traded.

And the Manservants: Trader C really earned his "Chambermaid" today...

"Chambermaid" - Trader C, -$31,957 on 588k shares traded.

2. Trader V, -$2,429 on 87,670 shares traded.
3. Trader R, -$318 on 85,800 shares traded.
4. Trader 3, -$73 on 3,200 shares traded.
5. Trader 8, $4 on 200 shares traded.

These People Are Scary

Palin seems to have really brought the worst out of the Republican party. It's too bad, because McCain has had a great career. Sad to see it end on this note. I don't think a few years ago he would have hoped for "supporters" like this.

What Traders Talk About During Slow Periods

[2:05:07 PM] Trader S: do you guys think the word "fishass" is funny?
[2:05:15 PM] Trader D says: nope
[2:05:19 PM] Trader D says: manass is better
[2:05:26 PM] Trader S: how about "assfish"
[2:05:37 PM] Trader D says: better but still weak
[2:05:42 PM] Trader S says: thanks
[2:05:44 PM] Trader D says: no prob

A Trendline...

Check out this trendline drawn from the highs of Monday... we tested it before on decent volume. If we can base now for the mid-afternoon churn and break it with good volume later, we could set up for a nice close.

(h/t "Trader B)

Built To Spill, "Made Up Dreams, Velvet Waltz"

It's not easy for me to give up control, especially when it comes to music. Now, I know most of you come here for my sparkling wit and to follow along with the RO, however, at least 3 people come here for the good music.

Trust me when I say that the advent of the "boss music" tag on this site has caused me much pain.

That said, here are a couple of exceptional tunes from Built To Spill from their album "Perfect From Now On." A desert island disc if ever there was one...

I wanna be a motherfucking boss dammit!

Hey bro - it is your older (yet in a cruel twist of fate, much younger looking) sister just stopping by to say hello. I know that some of your past posts have addressed the trauma and the stress that you feel as a day trader, banging away at your keyboard, cursing incessantly at your 42 computer screens, while you try to be in your own words, "a motherfucking boss."

I hear you. In fact, after watching the interest rates on my credit cards soar after being one day late with a payment; after watching the gas and oil prices climb to near ridiculous prices; and while trying to figure out why a household with two adults making what I previously thought was a decent amount of money is often living paycheck to paycheck - I had an epiphany: I want to be a motherfucking boss too!

Imagine the possibilities.... "Eat your broccoli."
"Because I'm a motherfucking boss, that's why!"

"I'm not coming in today. Or tomorrow. Or next month."
"Because I'm a motherfucking boss, that's why!"

The best reason of all to be the motherfucking boss? Control of the jukebox!