Wednesday, November 12, 2008

Joe Cocker, "A Little Help From My Friends"

Dedicated to the RO.

The RO Report, "We Kick Ass" Edition

I'll tell you what, a year ago, no way would I have even attempted to come back from a $5500 loss in one day. In fact, we just passed the year anniversary of my FSLR blow-up. Funny, read some of the comments... remember that JJ troll guy? Check out SWC today... $2.40. He apparently put his life savings into it in the teens... LOL! DT WINS AGAIN!!!

Anyway, today I was able to come back largely due to the guys in the RO, they're good... even "Trader D."

If you're just starting out in this business, I can't over-emphasize how important it is to surround yourself with good traders. Through the good times and the bad, it helps to be around, and trading with, other people who understand your situation.

(At this point let me drop a brief reminder that the RO is always hiring... email me with questions. My email is under my profile.)

You could argue that I was around the same traders this morning when I first loss my money, but that'd be a "dicky" thing to point out. Don't be a dick.

In fact, if you are a dick, might I introduce you to "the Fly's" blog? The comment section over there needs you. Tell Jake Gint I said "Hi!"

Anyway, I'm starting to get a good feeling again about this market despite my intraday massacre. We should have a massive bounce again soon... it'll be short-lived, sure, but it should make for good trading. I hope it happens before Thanksgiving week, when I plan on taking off.

The Bosses took it to the Manservants today in an embarrassing way. In fact, most of the Manservants were swing accounts. Out of 26 traders today, 20 were gross positive, or 77%. 14 traders finished up over $1,000 gross today, while only 2 lost more than $1,000 gross. Great numbers.

I was # 18 of 26. Right now, I can look and say that's disappointing... however, if you told me at 11:00 that I'd be flat on the day, I would have taken it. So while I've had 2 straight days of gross underperformance versus the RO, it could've been far worse.

I'm happy and will tighten my game up tomorrow.

Here are today's Bosses:

"Lucky Pierre" - Trader A, $28,628 on 275k shares traded.

2. Trader B, $15,859 on 435k shares traded.
3. Trader H*, $12,265 on 14,000 shares traded.
4. Trader Z, $9,975 on 127k shares traded.
5. Trader C, $7,794 on 224k shares traded.

And the Manservants:

"Chambermaid" - Trader 6*, -$1,980 on 200 shares traded.

2. Trader M*, -$1,359 on 700 shares traded.
3. Trader Q, -$875 on 17,800 shares traded.
4. Trader U, -$216 on 0 shares traded.
5. Trader I, -$116 on 2,400 shares traded.

When The Market Gives You Lemons...

I, for one, take those lemons and squeeze the lemon juice into any available open wound on my body.

I'm completely smoked, like historically smoked for me, down 5 grand, mostly because of this shit PLD.

What I've learned the hard way in this market, is that 20% moves in cheap stocks is quite common. The only silver lining I see right now, is that there's good volume in the market and I'm hopeful that I'll be able to make at least a portion of my loss back this afternoon.

NOTE: As of 12:00, the Manservants are solidly in charge. I'm second worst in the office currently, and I'd be worst were it not for "Trader C" blowing up. But there's loads of big red numbers right now that hopefully we can pare.

UPDATE: My day is only getting worse, as my neighbor (and nemesis) has begun to blow his leaves onto my property.

Thomas Friedman On The Daily Show

I'd like this guy more if he didn't fuck up his views on the Iraq war so much. Anyway, here he is on The Daily Show talking with Jon about our energy infrastructure and the "green bubble" that needs to form.

Another Person Who Shouldn't Trade

You should never enter a trade in order to impress other traders... doing so invariably leads to massive pain.