Saturday, November 8, 2008

Smashing Pumpkins, "Rocket"

As you know if you've been reading this blog, I think the Smashing Pumpkins suck. However, before they started to suck, they made one really great album which can easily bring me back to 1993, a good year for DT.

Smack dab in the middle of the album is this song, and the build from 1:50 to 2:45 (or so) is one of the highlights. Enjoy some real music for the weekend... however, don't watch the video too closely... way too many close-ups of bandmembers trying to look blissed out and spacey.

The RO Report, "Weekend Edition"

I won't be able to get the RO report up until late this evening or perhaps tomorrow.

UPDATE: Okay, as "Jd" or "Trader P" mentioned in the comment section, it was an ugly end to the week.

After the carnage of Wednesday and Thursday, we welcomed a little buying off the open which was followed by a fairly steep midday sell-off and then some ultra low volume consolidation heading into the afternoon.

The fun really began after 2:45.

Obama was giving his first news conference as "President Elect" on the troubled economy and the market seemed to be holding its breath. Just before he spoke, the Dow ripped 100 points. Then, when he began to speak, it dropped a quick 200. Finally, at the conclusion of this speech, the market decided to rip 200 points back to the highs.

So, if your strategy was to position for a continuation of the trend of the morning, you were frustrated and quite possibly, "ass-mangled" in the wild afternoon chop.

Anyway, out of 23 traders, 13 were gross positive, or 57%. That's not awful. The problem was in the extent of the losses. The bottom 7 traders all lost over $2,000 gross, while only 6 traders finished over $1,000 gross. You see the math doesn't add up well for the bosses... I was #5 of 23, or bossy.

Given the fact that I had 3 hours sleep and a sick kid, my bossiness should serve as a rebuke to the entire office.

Here are Friday's Manservants:

"Chambermaid" - Trader D, -$20,344 on 305k shares traded.

2. Trader B, -$19,010 on 365k shares traded.
3. Trader N, -$6,018 on 65,400 shares traded.
4. Trader C, -$5,350 on 124k shares traded.
5. Trader V, -$2,369 on 36,200 shares traded.

And the Bosses:

"Lucky Pierre" - Trader A, $10,456 on 144k shares traded.

2. Trader H*, $6,701 on 2,100 shares traded.
3. Trader F, $1,653 on 25,000 shares traded.
4. Trader M*, $1,485 on 0 shares traded.
5. Trader S, $1,223 on 18,400 shares traded.