Thursday, March 5, 2009
A wise man once said, "Those who try to pick bottoms get stinky fingers."
Today I think there are a lot of traders who will be washing their hands well before dinner.
What can you say about a market that bleeds significantly lower each day? You can say it's getting scary. Immediately after the close a friend called me and was like, "Dude, WTF?" That's a good thing. Let's talk about the best case scenario, shall we?
Tomorrow the jobs report is so abysmal that it bottoms the market. I think it's doubtful, since it's a Friday, but I'm just being hopeful here. People need to puke up their stocks, give up on America for good, and invest in China. When that happens, we'll bottom.
I'm hoping sometime by next Tuesday.
Anyway, it was a disappointing day in the RO. Out of 30 traders today, 16 were gross positive or, 53%. 3 traders made over $1,000 gross and 6 traders lost over $1,000 gross. I was #13 of 30. Flat. The Manservants took the day.
"Chambermaid" - Trader H*, -$13,763 on 22,900 shares traded.
2. Trader 10*, -$8,822 on 5,900 shares traded.
3. Trader A, -$3,062 on 408k shares traded.
4. Trader E, -$1,303 on 54,900 shares traded.
5. Trader &, -$1,235 on 105k shares traded.
"Lucky Pierre" - Trader B, $8,520 on 351k shares traded.
2. Trader Z, $7,284 on 112k shares traded.
3. Trader F, $3,519 on 41,000 shares traded.
4. Trader V, $989 on 50,400 shares traded.
5. Trader J, $900 on 54,600 shares traded.
BLOG NOTE: I may change up the names for the top and bottom traders of the day. If so, I'm going to let the RO members vote on the names. If you have any suggestions, list them in the comment section.
The sun was hot. Dinosaur Trader sat by the green water, one hand in it, one around a glass of gin. He was a slender man-he seemed to have the especial slenderness of youth-and while he was far from young he had slid down his banister that morning and given the bronze backside of Aphrodite on the hall table a smack, as he jogged toward the smell of coffee in his dining room. He might have been compared to a summer's day, particularly the last hours of one, and while he lacked a tennis racket or a sail bag the impression was definitely one of youth, sport, and clement weather. He had been swimming and now he was breathing deeply, stertorously as if he could gulp into his lungs the components of that moment, the heat of the sun, the intenseness of his pleasure.