Tuesday, November 25, 2008

Smashing Pumpkins, "Bullet With Butterfly Wings"

Anyway, I tried to get "Trader A" to post a song but the man is too damned honorable. He didn't officially spray since he didn't beat Trader C by double, and so he wouldn't take the song saying he "didn't earn it."

And since I lost money, I'm now forced to post bad music.

I could see catching some flack for this one, but for me, this song marked the end of anything good that came from the Smashing Pumpkins. Two good albums then shit.

The RO Report, "DGX Sucks" Edition

The report will be late tonight. Just know, DGX ruined my day.

UPDATE: So yeah, I was having a decent day and threw it all away on an end of day trade in DGX. The stock had a decent buy imbalance but basically went straight down. I had 4k of it. Painful.

But enough about me, the RO, once again, found ways to make money. And really, that's what trading is all about, finding a way to make money. I've been nervous recently just thinking about how people may step away from the market after all this lunacy, but all it means is that we'll have to find another way to make money. Perhaps we'll have to hold stocks longer term, who knows? I'm confident we'll figure it out.

Some dude was on CNBC today and basically said that proprietary trading was gonna die, and soon. The good news is that 99% of what you hear on CNBC is dead wrong. If he's not, this blog will quickly morph into a blog about anxiety.

Anyway, it's late and I'm tired. I've been suffering from a small bit of insomnia which began the other night when I left "Trader P's" place at 4am. I haven't slept since. Naturally, I blame him. So I'm going to go listen to some complex music in my headphones and get taken away by the trails.

Out of 24 traders today, 16 were gross positive. 7 traders made over $1,000 gross, and 3 lost over $1,000 gross. I was #15 of 24, gross positive, net negative. Very disappointing. However, on the bright side, I thought the market showed some very healthy action today. I, for one, am looking forward to more up days. Bosses win.

"Lucky Pierre" - Trader A, $26,682 on 1.1 million shares traded.

2. Trader C, $16,298 on 120k shares traded.
3. Trader P, $6,516 on 242k shares traded.
4. Trader Z, $5,901 on 348k shares traded.
5. Trader N, $3,242 on 177k shares traded.

"Chambermaid" - Trader B, -$4,391 on 141k shares traded.

2, Trader R, -$2,227 on 120k shares traded.
3. Trader N, -$1,029 on 39,000 shares traded.
4. Trader F, -$955 on 200 shares traded.
5. Trader L, -$918 on 32,000 shares traded.

"I Wanna Dance!"

Best part... 0:21 - 0:23...

Dennis Kneale Is An Idiot Dick!

I haven't watched CNBC for months and months. I just remembered why...

-Dennis Fucking Kneale

Obama just spoke on the economy again. He's going to hold a press conference each day THIS WEEK. He does this because it shows leadership... it gives people confidence. Someone is steering this fucked-up ship afterall.

(FYI, Bush held 17 his ENTIRE first term! A term that, never forget, included 9/11.)

Anyway, so immediately after the "presser" Dennis Kneale gets the first comment, "What happened to the great orator?" he whined. "He sounded like a boring technician up there."

It's a fucking PRESS CONFERENCE you fucking idiot! You wanted the "Yes We Can" speech again, during a press conference on the fucking economy that only months ago you were saying was in good shape? The same economy that you argued was being "talked into recession?"

You are irrelevant Mr. Kneale. Looking forward to seeing you hit the unemployment line sometime in 2009. Oh, and you're a dick.

Happy Thanksgiving!

A New Link

I feel like this is probably a site that you all know about and I'm late to the party, but check out Finviz for a great page on Industry groups. (h/t "Trader C")

Just click "Screener" and then pick the parameters that you want to screen for. Here's a screen I made for "Residential REITs." Back in the day, we'd pay $1650 a month for Bloomberg terminals that gave us this information... now it's FREE!

Anyway, like I said yesterday, I'm tightening up my layout and my baskets. Knowing exactly which stocks do what, and what stocks they trade lockstep with, is important.

A lot of trading is about making good decisions in the face of constant market uncertainty. But a lot also comes from knowing your shit. You have to put in the work if you want to be successful.

(BTW, what the fuck is wrong with Charlie Gasparino? Charlie... why are you such a dick?)