Wednesday, March 4, 2009

The RO Report, "Jinx" Edition

The market showed a little resilience today. Okay, I'm kidding, I hate when people say that.

Early on, it was a battle between the strength of the rally in oil and other commodities and the weakness in GE. Then, Bill Gross said some stuff, GE said some stuff, and GE stabilized after dropping under $6.

Six dollars.

I understand the banks getting ass-blasted, but doesn't GE sell stuff still? I bought a refrigerator from them not too long ago. Should I not get that extended warranty?

Anyway, in the end, the market held onto its gains albeit on lighter volume and only after a nasty late-day sell off. The financials couldn't join in the fun, and therein lies the problem.

My guess is that this is just setting up bear flags, getting traders ready for the Big Washout.

The RO had an excellent day. If I wasn't in my little self-imposed trading bubble (i.e. ignoring chat and keeping my own counsel through the day) I could give you a little hint about where they made their money. As it stands, I haven't the slightest idea but I'm happy for them.

Out of 30 traders, 22 were gross positive or 73%. 12 traders made over $1,000 gross and 5 lost over $1,000. I was #13 of 30, green again. Also, I want to apologize to Trader & for jinxing his ass in last night's RO post...

"Lucky Pierre" - Trader B, $30,433 on 458k shares traded.

2. Trader D,
$21,852 on 414k shares traded.
3. Trader A,
$20,905 on 415k shares traded.
4. Trader Z,
$10,019 on 188k shares traded.
5. Trader T,
$6,046 on 6,300 shares traded.

"Chambermaid" - Trader &, -$7,386 on 84,800 shares traded.
2. Trader N,
-$2,136 on 292k shares traded.
3. Trader P,
-$1,823 on 279k shares traded.
4. Trader F,
-$1,433 on 52,400 shares traded.
5. Trader E,
-$1,086 on 100k shares traded.




15 comments:

Anonymous said...

http://www.businessinsider.com/sorry-ge-shareholders-you-own-ge-capital-too-2009-3

pete

Anonymous said...

Yeah, thanks, dick.

-trader &

Dinosaur Trader said...

Wow, they really spell it out in that article...

Sorry &... really, I'm the kiss of death. I think if Trader T makes another dime tomorrow, I'll sing his praises here.

-DT

Justin said...

Hey DT, do you know if anyone else post's their office numbers too? Look the blog by the way!

-JS

Dinosaur Trader said...

Justin,

Thanks. To my knowledge, no. You must understand that as far as proprietary trading offices go, the RO is the best. It'd probably be very embarrassing for other offices to post their results.

Of course, I would welcome such a development and link that blog immediately.

There's a gay P&L thread over at elitetrader, but those people are a bunch of cockknockers.

-DT

Anonymous said...

DT, i have groups in my RO that make similar numbers on a daily basis and of course the losses that go with it too. Good groups are where you find them.

Dinosaur Trader said...

You guys should start a blog so we could go to war.

Either that, or join my RO.

-DT

Anonymous said...

As iam sure you know many successful trading groups are not comfortable posting their numbers. Prop. traders are very tribal and secretive by nature. I have a few black box guys that make huge money on a monthly basis and have security measures that rival DOD, lol. I respect traders privacy and i dont ask, just try to help them any way i can. I really like when my guys do well.

Dinosaur Trader said...

There's definitely a culture of secrecy in most shops, which is why I think ours is so much better.

Working in an open environment is better for everyone involved. If you're in a slump, people reach out. If you're kicking ass, you get congrats and confidence boosters.

I've worked in both types of places though... and when things are open, you get a lot more idea flow. and everyone benefits.

-DT

Anonymous said...

I agree but most groups who routinely make stacks will not be so open with others unless they are getting an override on commissions. Also, to join a successful group they are usually getting a bump on your trades. LMK if you know any groups that dont conduct business in this type of manner. JB

Anonymous said...

I agree but most groups who routinely make stacks will not be so open with others unless they are getting an override on commissions. Also, to join a successful group they are usually getting a bump on your trades. LMK if you know any groups that dont conduct business in this type of manner. JB

Dinosaur Trader said...

Yeah, our group. Guys just share because there's a culture of sharing in our office...

I mean, not everyone in the office shares, but ironically enough, all of the best traders do. People strategize pre open and often discuss trades real time. There is only one trader in our group who is kind of known for not sharing, Trader F, but even he comes out of the woodwork now and then.

And of course, the more you share, the more help you'll get should you ever find yourself in a slump.

-DT

Anonymous said...

Well thats really awesome and i commend your RO. MOST prop firm top tier groups get compensated in one form or another. Either sliding scale commissions, or some sort of rebate, override.

Whisp said...

Where's my commission override?!!?
I got a 10k monthly overhead, and that's not including my increasingly expensive drug habit, or the Elliot Spitzer class prostitutes.

- Trader A

Anonymous said...

How long does trader B normally hold his positions? hours or couple of minutes?