Dinosaur Trader: 12/04/08

Thursday, December 4, 2008

Bette Midler, "Wind Beneath My Wings"

From Trader N to Trader Z... a dedication, if you will.

The RO Report, "Bears Are Lame" Edition

Here's the deal... ahead of a jobs report that is widely expected to be a complete disaster, all they could manage was a 200 point drop on the Dow? I'm not impressed. A month ago, they could have taken this market down at least 600 points. I guess I'm just really tired of being bearish.

I'm not saying it's easy being bullish here, because it's not, but I like the way 84 support held on the SPY. If we rally tomorrow on a weak report, bears will have some thinking to do over the weekend... especially if we could close above 8650.

Anyway, it was an interesting day in the RO. Trader N continues to show major progress as he seems to be developing into a bit of a monster trader. This is wonderful for the office dynamic. The best type of office doesn't just have one or two good traders, but a whole bunch with different styles. This way, when one guy is slumping, you still have a strong leader. Kudos to Trader N for his spray.

Out of 22 traders today, 10 finished gross positive, or 46%. 6 traders made over $1,000 gross, and 7 traders lost over $1,000 gross. A very mixed performance. Volume was pretty lackluster today and we seem to be waiting for that report tomorrow. I was #7 of 22. Happy to be green since I was bullish all day...

"Lucky Pierre" - Trader N, $33,838 on 111k shares traded.

2. Trader J, $11,411 on 116k shares traded.
3. Trader V, $3,550 on 93,200 shares traded.
4. Trader L, $3,269 on 53,000 shares traded.
5. Trader Z, $2,035 on 271k shares traded.

"Chambermaid" - Trader A, -$18,930 on 200k shares traded.

2. Trader P, -$12,238 on 261k shares traded.
3. Trader C, -$6,164 on 303k shares traded.
4. Trader H*, -$3,273 on 4,500 shares traded.
5. Trader D, -$2,974 on 467k shares traded.

Here it is, your daily "heatmap."