Monday, November 17, 2008

The RO Report, "The George Michael" Edition

Today, my blogging and trading was decidedly third-tier.

I'm not going to apologize though. I feel like I'm just getting back in touch with my roots a bit. You never want to forget where you came from.

I remember a week ago thinking that the market was dead and that I wouldn't ever be able to make money again. But then Thursday came and I made a shitload. I told myself, "I just need to be patient. Have to pick your spots in this market."

I felt smart for not overtrading the slow market of the previous week.

However, on Friday I gave back half of my gain from Thursday. I told myself, "Holy shit you're a fucking idiot." Then today I traded lightly and made $50. I don't have any great feeling about it. I'm not smart for making $50, and I'm not an idiot.

I'm Joe The Plumber. It sucks. I want my hair back.

Anyway, all day the RO bitched about the market action. I don't get it really, because we had a 200 point rip in the middle of the day followed by a 200 point tank at the end. We traded decent volume in the eminis, about 3.4 million shares. But for whatever reason, no one made great money.

In fact, the Manservants took the day, but largely because of "Trader D" and his new long term account, "Trader 10." In fact, since he was a double Chambermaid, the office coined a new term for this ultra-rare occurrence, "The George Michael."

Here are your Manservants:

"George Michael"
Trader 10*, -$8,825 on 24,100 shares traded.

Trader D, -$7,701 on 135k shares traded.

3. Trader H*, -$4,744 on 4,600 shares traded.
4. Trader C, -$2,760 on 73,000 shares traded.
5. Trader T, -$937 on 1,800 shares traded.

And the Bosses:

"Lucky Pierre" - Trader A, $4,910 on 71,400 shares traded.

2. Trader B, $3,907 on 315k shares traded.
3. Trader Z, $908 on 51,448 shares traded.
4. Trader E, $516 on 31,000 shares traded.
5. Trader N, $460 on 22,600 shares traded.

The Difference Between A Recession And A Depression

I found myself wondering what made these two terms different and I found the following joke. (The real answer involves numbers and boring shit.)

A recession is when your neighbor loses his job.

A depression is when you lose your job.

Another Person Who Shouldn't Trade

One of the better trading rules applies to this video. Disaster starts slowly.