Chemical Brothers (ft. Wayne Coyne) - "The Golden Path"
About time I'm able to post a song on my own damned blog. Great video.
Monday, October 20, 2008
The RO Report, "Melting Upwards" Edition
Well, if this is what it means to be in a slow market, I can take it. But man, the volume was completely lacking for a 400 point move on the Dow. I'm still feeling very neutral on the market here, although I realize the bottom is starting to look rather "firm."
If we could see more volume on these rips, I'd start getting excited that my UWM purchase in my long term account will actually be a long term holding. Time will tell.
Anyway, the RO had a very nice day. Great breadth among the office mates. Everyone is feeling tired and worn out from the last few weeks. Our group volume took a marked dip today. It's very nice to see almost everyone in the green though, because the test of a good trader isn't only who is making the most money when the market is acting like a crack-whore, but also who can be consistent when it's slow. Being a good trader means constantly switching gears.
Out of 25 traders today, 22 were gross positive, or 88%. The top 11 traders were all up $1,000 gross, and only one trader lost more than $1,000; a very nice ratio. I was #12 of 25.
No one "sprayed" today. "Trader A" and "Trader D" who got into a little verbal war in the comment section of Friday's RO post, were duking it out for the 1 and 2 spot all day... in the end, "Trader A" was victorious. Also of note were the nice bounceback days coming from "Trader C" and "Trader P."
Finally, this is your last chance to vote in the RO post poll, over on the right.
Here are today's "Bosses:"
"Lucky Pierre" - Trader A. $10,265 on 258k shares traded.
2. Trader D, $9,655 on 76,200 shares traded.
3. Trader C, $8,777 on 177k shares traded.
4. Trader Z, $6,102 on 60,800 shares traded.
5. Trader P, $3,783 on 55,602 shares traded.
And the "Manservants:"
"Chambermaid" - Trader F, -$2,131 on 51,800 shares traded.
2. Trader T, -$748 on 1,900 shares traded.
3. Trader 3, -$372 on 7,600 shares traded.
4. Trader X, $50 on 8,000 shares traded.
5. Trader 8, $55 on 1,600 shares traded.
No Volume, Good Surf
I'm down $0.92 on the day.
I'm going to take the rest of the morning off and see if anything develops for the afternoon. After all the lunacy of the last month, things may finally be slowing down.
Andrew Lahde, My New Hero
I know this is a few days old, but I've been drunk and without my Paxil. Forgive me.
EXCLUSIVE: Below you'll find exclusive footage of Lahde as he embarks upon a new career.
Sunday, October 19, 2008
Saturday, October 18, 2008
Aaron Neville, "Everybody Plays The Fool"
The "Trader D" spray selection, also doubling as a dedication to the rest of the RO.
Friday, October 17, 2008
The RO Report, "Trading Ain't Easy" Edition
I have to say, it sucks to write this post tonight, because the RO took a massive amount of pain today. However, it highlights an important truth about trading, a truth that has been easy to forget during this last month of volatility and ridiculous trading profits.
Losses are part of trading, sometimes big losses.
However, it also highlights something important about the RO. The guys didn't take any more risk today than they normally do... the difference today is just that they were wrong. What's amazing to me now, is how often they take that massive risk and are right.
The fact that today stands out like an intellectual at a Sarah Palin rally reminds me just how good these guys are.
The reaction from many will be simply, "Yeah, but they made such a massive amount recently, this is nothing." Fine, understood, but don't forget what a psychological game trading is. "Giving back" is the most painful trading experience... probably worse than losing outright. That's actually a constant debate... or, as Tennyson put it, "'Tis better to have loved and lost/Than never to have loved at all?"
And let me add one other troubling fact about this game... your gains are taxed, egregiously... so the losses, in a way, count double.
Anyway, I'm looking forward to watching these guys bounce back. For now, let's just drink the blood and put today to rest. Out of 28 traders today, 10 were gross positive, or 36%. 5 traders made over $1,000 gross, 10 lost over $1,000 gross. I was #6 of 28, or, very lucky to have spent half the day at "parent-teacher" conferences at my daughter's school.
Here are today's "Manservants"
"Chambermaid" - Trader C, -$93,753 on 581k shares traded.
2. Trader P, -$46,847 on 597k shares traded.
3. Trader B, -$37,548 on 374k shares traded.
4. Trader F, -$28,725 on 219k shares traded.
5. Trader A, -$28,250 on 843k shares traded.
And the "Bosses"
"Lucky Pierre" - Trader D, $12,421 on 864k shares traded.
2. Trader G, $2,478 on 74,000 shares traded.
3. Trader E, $1,467 on 69,600 shares traded.
4. Trader V, $1,414 on 71,000 shares traded.
5. Trader O, $1,339 on 19,600 shares traded.
Have a restful weekend.
NOTE I: There are only 2 days left to vote in the RO member post poll. Go vote.
NOTE II: "Trader D" sprayed enough to win the song pick, however, I was unable to open the link he left in the chat. So I'll post the song tonight. If Trader D gets in touch with me over the weekend, I will post his song as a "special dedication" to the RO.
The Daily Show Addresses "Joe The Plumber"
I knew they would have a great spin. Pointing out that he has done more interviews in the last 2 days than Sarah Palin has done since she was announced for VP was a great point to make.
Another Person Who Shouldn't Trade
I'm not sure what she thought she was doing... but she failed. And traders who fail, suck "fishass."
Thursday, October 16, 2008
The RO Report, "Solid Rally On Volume" Report
The surf sucked... too windy.
However, the market rocked today. BTW, I hope the little graph with that trendline helped a few of you out... it was rather perfect I must immodestly admit. Once we broke that line at around 2:45, we based, tested, and then BOOM volume came in and the market never looked back.
Anyway, it was "Trader B" who brought the line to my attention, so it's only fitting that he sprayed the office. A huge spray, in fact. Good thing I can still post music from iMeem, because I don't know if I'll ever be able to post an end of day video at this rate.
I think today was a very healthy day for the market. Very healthy. The volume was excellent and we made what could end up being some sort of messy double top on the VIX. If the VIX were a stock, I'd be taking profits.
That makes me feel good about the bottom. Also, I think the stock market quite possibly put in its low.
Look, I still have that dinner party to get to, so I'm getting straight to the numbers. Out of 28 traders today, 24 finished gross positive, or 86%, an excellent number. 15 finished over $1,000 gross, which is also nice. I was #9 of 28, nicely positive, but slightly disappointed with my finish, given my conviction about the afternoon market move. The Bosses win again.
"Lucky Pierre" - Trader B, $82,713 on 881k shares traded.
2. Trader D, $36,232 on 694k shares traded.
3. Trader A, $27,208 on 331k shares traded.
4. Trader Z, $20,722 on 246k shares traded.
5. Trader F, $11,932 on 274k shares traded.
And the Manservants: Trader C really earned his "Chambermaid" today...
"Chambermaid" - Trader C, -$31,957 on 588k shares traded.
2. Trader V, -$2,429 on 87,670 shares traded.
3. Trader R, -$318 on 85,800 shares traded.
4. Trader 3, -$73 on 3,200 shares traded.
5. Trader 8, $4 on 200 shares traded.
These People Are Scary
Palin seems to have really brought the worst out of the Republican party. It's too bad, because McCain has had a great career. Sad to see it end on this note. I don't think a few years ago he would have hoped for "supporters" like this.
What Traders Talk About During Slow Periods
[2:05:07 PM] Trader S: do you guys think the word "fishass" is funny?
[2:05:15 PM] Trader D says: nope
[2:05:19 PM] Trader D says: manass is better
[2:05:26 PM] Trader S: how about "assfish"
[2:05:37 PM] Trader D says: better but still weak
[2:05:42 PM] Trader S says: thanks
[2:05:44 PM] Trader D says: no prob
A Trendline...
Check out this trendline drawn from the highs of Monday... we tested it before on decent volume. If we can base now for the mid-afternoon churn and break it with good volume later, we could set up for a nice close.
(h/t "Trader B)
Built To Spill, "Made Up Dreams, Velvet Waltz"
It's not easy for me to give up control, especially when it comes to music. Now, I know most of you come here for my sparkling wit and to follow along with the RO, however, at least 3 people come here for the good music.
Trust me when I say that the advent of the "boss music" tag on this site has caused me much pain.
That said, here are a couple of exceptional tunes from Built To Spill from their album "Perfect From Now On." A desert island disc if ever there was one...
I wanna be a motherfucking boss dammit!
Hey bro - it is your older (yet in a cruel twist of fate, much younger looking) sister just stopping by to say hello. I know that some of your past posts have addressed the trauma and the stress that you feel as a day trader, banging away at your keyboard, cursing incessantly at your 42 computer screens, while you try to be in your own words, "a motherfucking boss."
I hear you. In fact, after watching the interest rates on my credit cards soar after being one day late with a payment; after watching the gas and oil prices climb to near ridiculous prices; and while trying to figure out why a household with two adults making what I previously thought was a decent amount of money is often living paycheck to paycheck - I had an epiphany: I want to be a motherfucking boss too!
Imagine the possibilities.... "Eat your broccoli."
"Why?"
"Because I'm a motherfucking boss, that's why!"
"I'm not coming in today. Or tomorrow. Or next month."
"Why?"
"Because I'm a motherfucking boss, that's why!"
The best reason of all to be the motherfucking boss? Control of the jukebox!
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