Friday, January 23, 2009
Seriously, why shouldn't the market be dropping? The banks are destroyed. People are taking dudes who live on boats and store grains seriously... but still, the market is hanging in there.
I went bearish when the SPY cut through 85 like butter. However, if we open Monday, blow through 84 and test 85 again, I'll start to wonder about the short side.
I'm surprised by this mild strength. Of course, it's kind of lame to think we're doing well just because we're not cascading lower, but I think that just points out how negative sentiment is right now. It feels like the world should be ending, but it isn't... yet.
The RO had an impressive amount of traders in the green today, but no one made big size. Out of 31 traders, 24 were gross positive, or 77%. 8 traders made over $1,000 gross and 1 trader lost over $1,000 gross. Pretty solid. I was #7 of 31.
Have a great weekend. Next week this blog will be chock full of posts.
"Lucky Pierre" - Trader D, $9,083 on 162k shares traded.
2. Trader H*, $5,770 on 8,800 shares traded.
3. Trader F, $3,328 on 94,100 shares traded.
4. Trader E, $2,872 on 32,600 shares traded.
5. Trader M*, $2,470 on 0 shares traded.
"Chambermaid" - Trader B, -$9,952 on 549k shares traded.
2. Trader P, -$789 on 80,400 shares traded.
3. Trader I, -$636 on 62,000 shares traded.
4. Trader 12, -$90 on 15,400 shares traded.
5. Trader 3, -$41 on 26,800 shares traded.
(Note, Trader 12 found the RO through this blog. Wish him well.)
Click here for Brian's take.
- Which 3 traders from the RO are pictured here?
John Thain spent 1.2 million to redecorate his fucking office. Here's a list of some of the more egregious items. How about $35k for a toilet?
Exclusive footage of "the Fly" at his block party in Staten Island.
Ray parses the new Neil Young song in which he takes shots at Wall Street. Is Neil Young a hypocrite though or what? I mean, here he is cashing in on the bailout while complaining about rich dudes...
New conspiracy theory... despite loads of anecdotal evidence, Americans aren't dumb. Instead, Europeans just set up pictures on the Internet of dumb Europeans and call them Americans.
The HCPG guys are posting to their blog again. Like animals, actually... Here they post a transcript of a recent Warren Buffett interview. They wish "out loud," that there were more men in the world like Buffett. My guess, they really just wish there were more men in the world...
Howard complains about the cost of the Obama inauguration and draws my ire. Actually, Howard, it had nothing to do with the inauguration thing... I just hate the phrase "Color me ____"
More ire was drawn this week when Henry Blodgett described his plan to save the NY Times. James Surowiecki disagreed. Actually, I'm just posting this link because I want to be hired by the New Yorker. Quick, everyone click on James Surowiecki name NOW! Okay, Mr. Surowiecki, now that I have your attention... SAVE ME! I'm a stock trader but I want to live on a farm in Maine and write about the dawn and the sound that loons make swimming on dark empty ponds. Email me dude. Thx.
But look, if Surowiecki won't help me out, perhaps Jon Stewart will. In fact, if I had a half hour to live and the choice between watching The Daily Show or reading The New Yorker, I'd pick watching The Daily Show. Okay, quick! Everyone click on Jon Stewart's name NOW! Mr. Stewart, how's it going? Look, SAVE ME! I'm a stock trader, I run a third-tier blog, but what I really want to do is live in NYC and poke fun at politicians that I hate! Email me dude. Thx.
A neat list of where all that TARP money went.
Rick Sanchez tears "Joe the Plumber" a new one.
But before you start thinking I like Rick Sanchez, let me share with you one of my favorite video clips ever... "Do it!"
You're a racist.
Diane Sawyer got a little wasted at the inauguration.
I am a member of the Wolfpak, I admit...
Trader X is revamping his blogroll. In an effort to "guilt him" into including me on his, I will link him here.
Okay, that's it. I know I engaged in lots of "third-tier" behavior this week (especially in this post, sheesh!) and didn't write one history or around the house piece and I apologize. Just know that next week will be the best week ever here. I already have an around the house post set to go for Thursday and a history post nearly complete for Wednesday.
Don't miss them. Because soon, when I'm a writer for The New Yorker/The Daily Show, you'll be able to say you knew me back when I was "third-tier."