Friday, March 6, 2009

The RO Report, "Bottomless?" Edition

We were asking a lot of questions about bottoms in the RO today. How many different types of bottoms are there? Do you need to be surprised by a bottom? Do you like big bottoms?

Mud flaps?

I mean it seems everyone is waiting for a huge washout, a capitulation if you will. But when you're already "down here," what would constitute a capitulation? Another 10%? 20%? Does it all have to come in one day?

Look, if this market is leaving you scratching your head, you're not the only one. It's a difficult environment for investors, swing traders and day traders. Everyone is taking their lumps. But even more than I felt it in November, I'm beginning to get the feeling that we're getting close to the elusive Bottom.

There will be a bottom. This isn't the bottomless market.

Anyway, it was a good day for the RO. Out of 28 traders today 20 were gross positive or 72%. 7 traders made over $1,000 gross and 2 traders lost over $1,000 gross. I was #6 of 28. Happy, especially considering that I started the day poorly.

And here's to Traders A and Z for leading the charge into the close.

"Lucky Pierre" - Trader A, $24,961 on 168k shares traded.

2. Trader Z, $13,101 on 271k shares traded.
3. Trader 9*, $2,234 on 0 shares traded.
4. Trader P, $2,047 on 240k shares traded.
5. Trader V, $2,023 on 103k shares traded.

"Chambermaid" - Trader D, -$20,728 on 227k shares traded.

2. Trader H*, -$3,208 on 24,500 shares traded.
3. Trader &, -$931 on 112k shares traded.
4. Trader E, -$881 on 70,200 shares traded.
5. Trader L, -$708 on 77,800 shares traded.

Week In Review

The big sensation around the stock blogosphere this week was this clip, in which Jon Stewart pointed out the ineptitude of CNBC. Even lunatic right wingers were linking it and extolling its virtues.

This is great. Stewart's agenda has always been about excavating hypocrisy and exposing it. Perhaps by attacking CNBC he can expand his base of viewers. So anyway, check out the classic clip below from the summer.

But it's cool if you want to keep watching Glenn Beck. Someone needs to ramp up the fear in this country enough so that the market finally bottoms...

Okay, let's lighten the mood up, shall we? Ever wanted to beat the shit out of McGruff the crime dog?

The CIA realizes they've been using black highlighters all these years...

Were you hungover when your history class went over WWII? No bother... here it is all condensed into a comic that you can read in about 2 minutes.

How about a national fuel economy standard? Sounds good to me! Otherwise, California is going to keep getting all the credit for being the "smart state" and that just doesn't seem to make sense to me.

A daily read for me now, check out the fun J.B had with our favorite CNBC personalities.

Should China and the U.S swap stimulus packages? Again, I'll skip the easy joke here...

Here is one company that I'm thrilled to see go under. They have 50 copies of every bullshit movie I never want to see and no copies of anything worthwhile. Looking forward to a smarter video retailer to take their place... Oh, wait.

5 ways you'll know the recession is over.

Ann Coulter is smart.

Meanwhile, here's why Rush does radio now...

Sorry I'm getting so political... okay, check this out... the Kindle 2 reads the classics. Actually, Trader P just got a Kindle and he loves it.

I was never into Star Trek and I'm not gay... however, if you're gay and you like Star Trek, this is the video for you.

A cat pushing a watermelon out of a lake. I guess the message is, you too can win in the stock market?

UPDATE: I almost missed this. Duncan Neiderauer, head of the NYSE made a little news this week when he called for a reinstatement of the "uptick rule" and said that the "trader tax" legislation would "decimate" the markets. More here.