The Honey Hole Is Back

Woodshedder has brought the now famous "HH" back for the masses!

He nailed it last time... can he do it again?

M83, "Don't Save Us From The Flames"

Daily Post Resumes Tomorrow

I still don't know how to get my P&L for individual stocks from this new trading software, so no daily post.

Basically, you could have bought anything at 2:45 and made money. It was that kind of rally.

P&L, $634
38,200 shares traded.

Virtual Office, $9165. Dow, +146.24, 12,735.31.

Misstrade, $4200 on 2000 shares traded.
Sanglucci, $1249 on 21,600 shares traded.
Dehtrader, $1240 on 1670 shares traded.
Retard, $902 on 24 contracts traded.
Me, $634 on 38,200 shares traded.
OBAT, $521 on 11,150 shares traded.
Evolution, $419 on 120,800 shares traded.
Wincity, no trades.
Akalawoo, no trades.
Denarii, no trades.

Call it the Hillary Clinton Comeback Kid rally.

Or not.

Today felt exactly like August... Clarence showed up, the Dow is back to August levels. The only difference is that I didn't make $28 grand... Instead, I'm still trading on a very restricted simulated account... 500 shares max position... funny how life changes.

The good news is that at 3:40 my new account info finally came through. Tomorrow I will definitely be "live."

Anyway, it was a huge day for good traders. There were multiple $10,000 plus days in the trading chat room I participate in. That's coming from very active prop traders, guys who trade much more size than I do, but still.

Volume exploded to over 2 billion shares on the NYSE. Here's an interesting graph for you. This is "Up Volume" on the NYSE. Check out that 2:45 explosion.



The VIX dropped down to the 24 level.

Indeed, this was an oversold/short covering type of rally. Once the futures broke the 5-minute downtrend line, it was off to the races.

Great to see the VO do so uniformly well. Hopefully this is a sign of things to come.

So You Want To Be A Trader?

Great post by Mike. Check it out!

August Redux

Oh, look who's out of rehab!

Wall Street Fighter Relaunched!

Check out the new "cleaner and leaner" look of Wall Street Fighter.

Now you don't have to be embarrassed when you visit.

Obama's New Hampshire Primary Speech

We need an inspirational leader right now. Amazing speech.

A Robot Dinosaur? This Made Me Sick...

Clearly, these people were financed by my enemies.

Good Morning

Time: 6:38
Mood: Stable

Clinton Wins New Hampshire Primary

But if you compared her speech to Obama's, he kicked ass. Hopefully, it will be youtubed by tomorrow and I'll post it.

I still say she's done.

Pissed Jeans, "I Still Got You, Ice Cream"

Patience Little Grasshopper

I need more patience.

I was in a few trades that would have worked in my favor but I got out for either small gains or small losses instead.

I'm not familiar enough with my new software to figure out how to see my P&L totals and shares traded for each stock. So I'm not going to write a detailed post tonight.

I'm a little tired from waking up so early too. Hopefully by the end of the week I'm a little more "in tune" with my software, the market and my schedule.

Meanwhile, I'll be actively watching the New Hampshire primary coverage tonight.

P&L, $18
15,800 shares traded.

Virtual Office, -$1633. Dow, -238.42, 12,589.07.

Retard, $452 on 4 contracts traded.
OBAT, $374 on 5400 shares traded.
Evolution, $239 on 24,400 shares traded.
Wincity, $51 on 300 shares traded.
Denarii, $20 on 1600 shares traded.
Me, $18 on 15,800 shares traded.
Misstrade, -$2787 on 6000 shares traded.

Sellers are control freaks.

There was carnage everywhere, but the biggest story has to be CFC. The nation's largest mortgage originator rumored to be going bankrupt. That'll have a few repercussions...

Volume on the NYSE was strong as we traded over 1.8 billion shares. Also, it should be noted that volume was running light in the morning when the market was flat to up... it really kicked in when the selling began.

Still, with that said, after 8 straight down days in the Nasdaq (the record is 14) you'd expect some type of "relief rally" soon. But with sentiment so negative, I kind of think a better name would be "suckers rally."

And no one wants to be the first sucker... so this could take awhile.

NOTE: I'm still trading on a simulated account.

FoxATTACKS Obama

With the NH primary today, I had to do at least one political post. I can't wait to watch the coverage this evening.

What's Fox going to do if Obama is the democratic nominee?

Tasr... The New iPod?

You may think this is funny but it's not. It's creepy. Okay, it's a little funny.

Good Morning

Time: 6:35
Mood: Dark

My Daily Research Schedule

When I first started trading, 9 years ago, I'd wake up at 5:30, and be in the city by 6:30 sitting in the atrium of the JP Morgan building reading the newspaper while eating my breakfast.

I didn't go into the office right away because I didn't want people to bother me.

I sat in the JP Morgan building because it made me feel more "Wall Streety."

Nowadays, I sleep until 8:00. Or, when I wake early, I piss a lot of time away on email or reading idiocy on stock market blogs.

Well, new year, new company, new market. It's time for me to take this job seriously again.

In December, I deserved to lose money because I wasn't working hard enough. If I lose money now, it's not going to be due to poor work ethic.

Some things I can't control but my work ethic is not one of them.

So here's what I'm doing. I'm going to make a strict schedule of research that I adhere to each day. It will help me focus.

However, the first thing I will do each day is to create a simple "Good Morning" blog post. This will put at least a little pressure on me to get in and get the post up each day. It would be shameful to admit to myself and my 3 readers that I lost money because I got to my desk at 9:24.

So here, is my new research schedule:

1. Morning post.
2. Read IBD Big Picture.
3. Read Bloomberg breaking news headlines.
4. Read Bloomberg "Stocks On The Move."
5. Check front page of NYTimes and WSJ.
6. Watch Alphatrends daily "Stock Market Video Technical Review."
7. Read Briefing Live In Play from previous day's close.

Okay, that's a good amount of reading and background. Now for some graph work.

8. Check BigCharts' "big movers reports." Especially the largest % gain in volume.
9. Go through index graphs like SOX, XBD, XOI, etc.
10. Go through each stock on screen.

After all of that, (I figure it's 3 hours worth of work) I should have an excellent idea of the general tone of the day and what stocks could be moving. At that point, I'll head over to "the Fly's" blog and try to dwindle his readership by posting a nice soppy movie clip.

If you have any other suggestions for research, please let me know via the comment section.

Nice Trade, Richard

If only all trades could be this smooth.



Shame that you spent all of your proceeds on fast food though... Next time you have such an easy trade, but this book with your gains.

Ron Paul Supporters Try To Scalp Sean Hannity

After excluding Paul from the Fox News Republican debate despite the fact that he's polling at 10%, Hannity was forced to flee an angry mob of Ron Paul supporters.

This is great on many levels. Enjoy!