Thursday, October 23, 2008

Hustle And Flow, "It's Hard Out Here For A Pimp"

There was some debate today whether or not "Trader D" sprayed enough to get the song. Gross, he didn't double Trader A. However, net, he probably did. Anyway, he deserves this for walking away with a million long and putting his shit on "auto close" at 3:59:20. Pretty bossy.

The RO Report, "When In Rome..." Edition

I got smoked right off the bat today. Actually, not true. First I made $500, and then I lost $2500 getting short HES and SPY and buying DDR. Then I made it all back when I bought DDR again. I decided to go surfing. This was at 11am.

I came back to find the market had dropped over 500 points while I was out in the sun. The office sounded exhausted and no one had cleaned up during the drop. This seemed strange. I started trading again at around 2:45 and immediately lost a grand shorting SPY into the huge rip.

The market then got itself into a range. But the SPY was acting downright freaky. There were huge spikes up and down. The office was in a rage trying to divine what the hell was going to happen next.

Well, guess what? The same shit that happened yesterday, happened again today. At 3:40, we had an explosive rally to the upside. I'm not sure if this is the new normal. However, since REIT stocks started acting like crack whores, I decided that hell, I'd act like a crack whore too and just start buying them, despite the fact that they looked very overextended off their lows. Who knows? The market acts crazy and I guess sometimes you just have to act crazier...

It was a fairly mixed day in the RO. This too, seems to be the new normal. A month ago, we were all enjoying gains and the trade seemed somewhat easy. The market isn't as easy to trade right now... most traders were on the dark side for at least a portion of the day. There seems to be some type of large shift happening, but I can't put my finger on exactly what it is...

Anyway, out of 25 traders, 13 finished gross positive, or 52%. Not good. The top 8 traders all made over $1,000 gross while the bottom 7 all lost over $1,000 gross. See? Very mixed. Not easy. I was #5 of 26 and happy to make back half my loss from yesterday.

The bosses, largely because of gains from "Trader D" and "Trader A," took the day.

Here are today's Bosses:

"Lucky Pierre" - Trader D, $27,168 on 217k shares traded.

2. Trader A, $13,969 on 287k shares traded.
3. Trader F, $8,648 on 120k shares traded.
4. Trader E, $3,155 on 98,200 shares traded.
5. Trader S, $2,735 on 69,800 shares traded.

And the Manservants:

"Chambermaid" - Trader Z, -$8,802 on 172k shares traded.

2. Trader K, -$4,165 on 55,200 shares traded.
3. Trader C, -$4,050 on 168k shares traded.
4. Trader P, -$1,516 on 130k shares traded.
5. Trader O, -$1,511 on 26,776 shares traded.

NOTE: I just want to give a special thanks to "Trader N." He helps get me these numbers each day. The office has really gotten behind the blog. Also, they support the work I do here.

True, I Lost 5 Grand Yesterday

But things could be worse...