Wednesday, October 22, 2008

Tag Team, "Whoomp! (There It Is)"

Easily one of the worst songs of all time, featured this evening on my blog because I was a Manservant and none of the Bosses had a relative spray.

The RO Report, "Dead Dinosaur Bounce" Edition

Well, I just got smoked, so it's hard for me to have much to share right now that will be objective... I'm way too focused on the spanking I just took.

It's pretty rare to see the market turn on a dime so late in the day. Especially when all the imbalances are to the sell side and when "down volume" is completely swamping "up volume." But I guess it happens. And when it does, you don't want to be caught short.

Still, despite the late day rip in the indexes, the Dow lost over 500 points and the VIX closed near 70. The only good news there, at least for me, is that I should have plenty of opportunity to make my money back. However, that said, today was pretty dead until the last hour... so you need to stay patient in this market, despite the volatility.

Anyway, many of the ROers played it well and hence, the Bosses won the day.

Let's just get to the numbers. I have a new drug habit to start or something... oh, and as always, if you think you want to do this Godforsaken job, email me.

Out of 26 traders today, 15 were gross positive, or 58%. I was number 23 of 26, or, a Manservant. The top 9 traders finished up over $1,000 gross while the bottom 6 all lost over $1,000 gross.

Here are today's "Bosses"

"Lucky Pierre" - Trader D, $38,262 on 291k shares traded.

2. Trader A, $30,717 on 355k shares traded.
3. Trader Z, $24,747 on 142k shares traded.
4. Trader C, $18,256 on 146k shares traded.
5. Trader E, $8,128 on 101k shares traded.

And the "Manservants"

"Chambermaid" - Trader P, -$23,905 on 126k shares traded.

2. Trader B, -$18,939 on 276k shares traded.
3. Trader S, -$4,594 on 57,400 shares traded.
4. Trader I, -$4,075 on 17,700 shares traded.
5. Trader 6*, -$4,034 on 0 shares traded.

*swing account

Always Have An Exit Plan

Here's another idiot who should never trade. I mean, you get yourself into a bad position in trading, with no exit plan, and Mom won't bail you out.

Moron Fails on Terrible Squat Thrust - Watch more free videos

Death Trading Range

So we gapped lower, had a nice little tank, then rally, and now, death.

I'm not sure how you guys are doing out there, but I always find low volume markets tough to trade. My guess is that I won't make another trade until after 3pm. Just look at the volume drying up...

Again, watch your ass. No reason to overtrade this market.

Palin Sacked

This made my heart sing.

Crazy Protester Interrupts Palin Interview - Watch more free videos