Tuesday, February 10, 2009

The RO Report, "No Squeeze" Edition

If you were bearish on this market all day and waiting for an opportunity to get short, you were likely frustrated. There was no bounce, no squeeze, just steady selling.

The internals were completely disgusting. The XLF was down 10%. Crude oil is pinned. We are poised precariously over the lows made about a week ago. After that, we go to the November lows.

I turned CNBC on today for the first time in months. I was all about listening to Geithner explain The Plan. I was unimpressed. I also wasn't big on the dog and pony show afterwards, when he did his live interview with Brian Williams and Steve Leisman.

It made me very afraid. I feel very dark.

There is no doubt in my mind now that we'll be revisiting those November lows soon. After that I'm not sure what the fuck is going to happen, but I don't think it will be pretty.

Despite all the gloom and doom, the RO had a great day and I repaired at least a little of the damage that I inflicted upon myself recently. Out of 30 traders today, 25 were gross positive or 83%. 16 traders made over $1,000 gross, and 3 lost over $1,000 gross. Solid numbers across the board. I was #13 of 30. Very happy.

NOTE: I am trying hard to get the history post up tomorrow. If it doesn't happen, it will be up Thursday.

"Lucky Pierre" - Trader Z, $18,168 on 228k shares traded.

2. Trader B, $17,141 on 335k shares traded.
3. Trader H*, $10,329 on 18,100 shares traded.
4. Trader P, $9,746 on 262k shares traded.
5. Trader C, $9,219 on 149k shares traded.

"Chambermaid" - Trader 10*, -$2,927 on 2,900 shares traded.

2. Trader 6*, -$2,618 on 100 shares traded.
3. Trader G, -$1,749 on 110k shares traded.
4. Trader U*, -$831 on 3,700 shares traded.
5. Trader 9*, -$498 on 2,000 shares traded.

This heatmap looks like a bad joke, but it's real.

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