Go ahead, share something.
Tell us about what a stud you were in high school. Your wife is probably sick of hearing about it.
Ever save a life? Let's hear it.
Great stock pick? JJ? Now is your chance.
What earnings stocks will you be watching this week. Don't be shy.
Have at it.
Basically it would be their "nuclear option." CNBC would be dead.
I don't care what she says... it just sounds right. Global Warming? Big deal. Terrorism? Whatever! So yeah, she's perfect for FOX because people will never pay attention to the content of what she's saying!
Meanwhile, take the time this weekend to visit here, leave some comments and VOTE ON THE DAMN POLL! Will you watch FBN?
Enjoy the weekend. Great rock song.
Meanwhile, the scene where the 2 guys are laughing at him seems a little over the top, no?
OBAT, $614 on 5800 shares traded.
Akalawoo, $470 on 35 contracts traded.
Misstrade, $295 on 2300 shares traded.
Me, $8 on 5200 shares traded.
Bubs, no trades.
Tapeworm, no trades.
Momojuicing, no trades.
Evolution, -$317 on 58,200 shares traded.
Well yeah, things were much slower today. We barely got over 1 billion shares on the NYSE. Not a lot of oomph to that rally to be sure.
Yesterday had the feel of an aberration... I just hope we can get some action during earnings season which starts in full this coming Tuesday.
It's good to see OBAT up there at the top of the pile.
Anyway, enjoy the weekend. Feel free to drop by the site and post comments in the "open thread." Share you life philosophy, your trading philosophy, whatever...
NOTE: No daily post tonight... I barely traded. After yesterday I basically "took a breather..."
Meaning, "chop."
Everyone is freaked after yesterday. The market goes up a bit and so everyone "sells the rally." The market goes down a bit, everyone thinks the market is going to dip 200, it doesn't, and they rush to cover.
In short, expect a chopfest.
I'm assuming today will suck. However, I'll hang out and stare at the screens allowing that brain tumor to suck up a little more radiation and grow just a little bigger, effectively removing a couple of more minutes from my life.
Seriously, sometimes being surrounded by all these 2000-era flatscreens makes me sure that I'm sucking up way too much radiation.
Let's give this a try. I was browsing around last night and ran into a "Happy Hour" chat over at Trading Goddesses site. This little chat application was pretty effective.
So, today, after the fireworks of the morning are over I'll be on the chat for a bit around 11am. Of course, that's always subject to change, given market conditions, but let's give it a shot. And, of course, I don't have to be here for you people to chat. You'll know I'm there when you see "Dinosaur Trader" as a chatter with the Ivory Gull avatar.
If it works out, I may just leave it up all the time. It will be good to have a fallback for when Wallstreak goes down!
UPDATE: Not bad... I think from now on when I host "chats" I'll do it in the market's off hours. I'll try again soon. If anyone has any good ideas about how do do this, lemme know. I'm thinking 9pm on Monday nights or something.
So all I plan on doing is opening up a thread and letting people have at it in the comments section. I mean, there's no reason why people can't do that now, so I'm not sure how successful this "idea" will be, but I just want to try to foster more of a conversation here.
Earnings season is coming up. I'd love people to just discuss swing trades they are planning on making, stocks they'll be watching in the coming week, etc.
Or you can discuss politics, music, books, whatever. If you want to say something, say it here on the weekends.
Why? Because I'm too busy on most weekends to post "properly" but throwing in comments here and there could be fun.
It's your forum, use it!
(First of all, be sure to try out my new fancy stock widget. Click on the blue box next to the stock symbols in this post. From that link you can click on the stock's profile, see a graph, get news, etc.)
At 1:00 I was busy emailing people and commenting on other blogs, whining about how I was getting smoked. My neck was killing me and I was making a mess of my keyboard with the Tiger Balm. It stank of peppermint in my office. Meanwhile, my daughter was downstairs "foot painting" with Judy and had just made a mess of a rug.
It was a bad day.
But you know, if you're feeling a little "no" all you have to do is add some "yes" to the "no" and things normally start to work out. Luckily, I have some friends in the ECB who were about to supply some "yes" for my day. Isn't life strange?
The first indication that something was wrong with the market was when I made money in a short trade. The stock was UBB.
I got short around $144 and covered just over $142. That got my blood flowing again and I realized that something was up. Weakness was really showing in the futures. Candles not retracing at all... red cliff forming quickly.
I don't know what I did or in what order, but I know I got massively short BEN and ANW. I also got short MLM and JRJC. All of those stocks turned into big winners for me. My other big winner, TNH, was a long.
I bought TNH when it was still in the middle of that first huge drop. I got filled on 400 shares at $121.98 and basically closed my eyes. It was like my PCP trade on my last huge day (in August). Sometimes, when things get wacky and extreme you just have to jump in... no price target, no "R" calculation... you just have to react.
Anyway, the stock retraced nicely. I missed the drop down to $116. What a fucked up stock.
If I was creating a "watchlist" today for future long positions, BEN would be on that list. Why? Because of the way it held up amidst the carnage. Also, JCI. Still, BEN was my best stock today because of the money I made on the short side during the selloff.
My worst stock of the day was DSL... he basically twisted the knife that he inserted in my back yesterday. I lost about $400 in him.
Anyway, like I said in the VO post, thank goodness we got some volatility today although I expect it to be short lived. But I guess you never know, perhaps Uncle Ben will freak everyone out tomorrow during his "talk." I mean look at this old picture of him... anything is possible.
Here's the stats:
P&L, $7443
Best, BEN, $2430
Worst, DSL, -$395
63,800 shares traded.
26 stocks traded, 19 winners, 7 losers.
234 trades.
Me, $7443 on 63,800 shares traded.
Evolution, $1424 on 31,000 shares traded.
Akalawoo, $710 on 6 contracts traded.
OBAT, $563 on 6600 shares traded.
Bubs, $478 on 2800 shares traded.
Tapeworm, $345 on 2 contracts traded.
Denarii, $59 on 2000 shares traded.
Momojuicing, -$17 on 600 shares traded.
Volume! Volatility! Mass Hysteria and PANIC! These are a few of my favorite things.
Some European guy says we need to be tough on inflation and the market freaks out?
It was fun while it lasted, but Uncle Ben speaks tomorrow. The market will be forced to rebound.
Anyway, it was a good day for the VO and really, a healthy day for the market. Look, I don't know what changed this year but at some point people (robots?) decided that they wanted the market to go up everyday and that that was the new normal. Then, when the market decided to take a break in August, the FED came in and saved everyone's ass.
Damn robots don't know how to take profits in an orderly fashion. That's my new theory. They all pump into the same trades with their "algorithms" and all take profits at the same time, creating these mini-panics now and then. Fine...
Volume was finally "good" today as we traded 1,507,556,000 shares today on the NYSE. I'm also extremely relieved to see a little volatility back in the market just ahead of earnings season, even if my "swing account" got demolished.
Babysitting now. Daily post will be late.
P.S. Vote on the damn poll... it's an easy one.
Please, whatever you do, don't watch this damn show. I'm just putting this link up because it's hilarious that people would be this stupid in search of fame.
This post is really a test. I'm working on getting a new link up for the stock symbols.
So far, the only thinks I have working are longs in CMI and TNH. The rest of my morning has been a bit of a chopfest. But I guess if you take a look at the tight range we've been in since the open that kind of makes sense.
UPDATE: The symbol links now work. That's good news. The bad news is that I got smoked.
Islanders 2, Rangers 1.
While I have sworn off all national sports, I was a kid when the Islanders were in their dynasty years and I just can't shake them. Too many good memories.
Anyway, there's nothing sweeter than the Islanders beating up on the Rangers as they did last night.
They did it a couple of weeks back as well. Watch as DiPietro owns the Rangers goalie.
You can avoid tainted toys and other crap. All you have to do is not buy them.
Here are some ideas about what you can buy or do with your kid.
Indeed it does. Let this post be the first step in my stopping it in it's tracks.
UPDATE: I've embraced my loss.
I hit my limit today, right before the market bounced hard from the bottom. It's 3:07 right now and I'm just watching everything go straight up.
I'm pissed.
Here's a good trading rule to abide by:
If you're losing money trading 300 share lots, you'll lose 10x as much trading 3000 share lots.
That's where discipline comes in.
What happened today is that I came into the day all out of sorts because DSL was gapping down and I was long 300 in my swing account.
I'm out of my position at a loss of $1800+. That smarts.
So that more or less fucked with my head. I felt like I had to "make it back." Instead, all I did was dig myself deeper. I lost another $600 daytrading DSL. So for the day, swing and daytrading accounts combined, my grand total loss in this stock was $2400.
This is the first time that I've taken a big loss in my swing account and let it bleed over into my daytrading. I need to keep those two accounts mentally separated. I think that's very important.
Besides DSL, the rest of my day was awful too. Because I was trying to "make it back" all day, I was overtrading and trying to manufacture gains where there were none to be had.
In short, I sucked today. Plus I have some weird neck injury. And now, a phantom limb problem... despite the fact that I'm not an amputee.
I'm going right back into slump mode. Since Thursday of last week I've dropped about 4 grand. So for the rest of the week I'm going to follow trading rules very tightly and practice patience. I'm still up for the month, so I don't want to get myself too mindfucked right before earnings season begins. I can still have a very good month if I isolate the stupidity to the last few days.
Also, Judy taught her first (regularly scheduled) yoga class for kids today. Right when she left (when I went into babysitter mode) I built a few short positions in the shippers which promptly reversed. I just wasn't able to be attentive enough to get out of the positions in time and they pushed me over the edge.
Now the market is going straight up... I bet it closes positive. Shoot me... a reversal day and I'm watching from the sidelines. Meanwhile, volume is pathetic, especially for a reversal day. That's just odd.
Tonight I'm going to do something I don't normally do... drink beer and watch the Islanders beat up on the Rangers. Perhaps if I drink beer and watch sports it will get me in the proper mindset for trading...
Here's the stats:
P&L, -$1206
Best, ANW $289
Worst, DSL -$596
41,800 shares traded.
15 stocks traded, 5 winners, 10 losers.
156 trades.
UPDATE: The market mostly topped out when I was writing this post. Since I really felt it was going "unched" it tells you how off I was today. Thank goodness I stuck to my loss limits.
Misstrade, $12,499 on 29,500 shares traded.
Momojuicing, $5834 on 24,000 shares traded.
Akalawoo, $624 on 42 contracts traded.
Bubs, $532 on 3600 shares traded.
Tapeworm, $220 on 2 contracts traded.
Evolution, $129 on 33,800 shares traded.
Denarii, -$11 on 2200 shares traded.
OBAT, -$308 on 20,800 shares traded.
Me, -$1206 on 41,800 shares traded.
Listen, I hate to harp on the volume thing... makes me sound like Bob "let's not quibble about a couple of Dow points" Pisani. However, the fact of the matter is that when the Dow goes down 150 points and then pulls off a pretty swift afternoon retracement and we can't get respectable volume, something is awry.
The market is moving to the "dark pools."
Now, NYSE bought Matchpoint, or whatever that fucking company is called, so perhaps their stock price will still be just fine. However, volume is leaving the NYSE. For me, well, I hate that. I guess it's good for the big guys executing large block orders at fixed prices.
Quick announcement: This weekend, I'm going to do something a little different around here. I'm just going to open a thread and let you clowns talk about whatever the heck you want to talk about. There seems to be a little community forming here. Want to share your theory of evolution? Fine, do it here... I'll give you a platform. Want to share your stock picks for next week? That's fine too. Want to tell me where the volume on the NYSE is migrating to? Go for it. Anyway, I'll throw out another reminder this week but there you have it... it's like an "open mic" only there's no music, no loser singing, and no one is going to throw money in your tip jar.
Anyway, with that minor announcement out of the way looks like the VO kicked ass today. Misstrade and Momojuicing seem to like the market just fine and there were a couple of other very respectable numbers thrown in there. Apparently only I'm mindfucked.
We traded 1,149,187,000 shares on the NYSE today. A pittance given the movement in the indexes.
Yeah, I just don't like the way these stocks keep on ripping.
I think Stewie over at Wallstreak said it best when he said, "I hate chinese spec plays. They're like strippers. They tease you and take your fuckin money."
Well said, Stewie... well said.
Meanwhile, DSL ripped my face off. I sold 200 @ $54.75. Ugh.
