What You Missed The Week Of February 1st, 2009

There's no getting around the fact that this week was very hard on me. For the first time in my 10 year trading career, I find myself down on the year. I'm heading out of the house for the weekend and then will return late Sunday afternoon to (hopefully) get in a surf session. Perhaps my victory Friday with the surf session will get my head straight.

Anyway, I started last week with a post about a good trade I made in FAZ. Since I got so blasted this past week, I don't think I can find any particularly good trades to highlight for this Monday's post. Instead, I'll post a bit about the negative mindset I found myself in later in the week.

Each Tuesday I've been highlighting a chapter from the trading classic Market Wizards, and this week I wrote about Bruce Kovner. Coming up this Tuesday, I'll discuss Richard Dennis.

On Wednesday I served up a history post about the trader I called "Char." Since I've had a lot of questions about these posts, let me clarify... all of these characters are based on real people but they are mainly caricatures.

On Thursday, frustrated by the influence of all the powerusers on Digg, I wrote an open letter to these powerusers, asking them what they wanted from me. Many people questioned my sudden obsession with Digg. To you I say, Thursday was a wonderful day for traffic around here.

Finally, on Friday I gave back to the Internets with a large post of links. However, I couldn't help myself when I came across this video of Jon Stewart tearing into Dick Cheney, the worst person on earth, so I had to post it.

Thanks for reading. Tomorrow I'll have my new "Sunday Space" post up.

What You Missed

A lot transpired here this past week so I've decided to wrap it all up for you in a sort of sick, self-linking sort of way. Take THAT stock-blogosphere!

Okay, first of all, since ostensibly, this is a stock blog (har! har!) I discussed a good trade I made in FAS. Then, as fate (and irony) would have it, I "chambermaided" myself the next day, mostly due to a bad trade in FAS.

But I moved on, and in the first installment of the Dinosaur Trader book club, I offered some thoughts I had on Michael Marcus, the famed futures trader. Then, out of nowhere, I got a bit creative on your ass and shared a bit of my history with you. Knowing that you hate it when I get all serious, the next day I tried to be funny. Finally, I give back to the Internets with a big linklove post.

Now I ask you, where else do you get such non-stop quality? I hope to provide you with more original content next week. And look, if you enjoy it here, please, tell your friends about this blog... I can't take "the Fly" calling me a "third-tier blogger" for too much longer. Thank you... that is all.

The Stock Market Crash Of 2008 That Wasn't

I don't normally do link-whoring weekend posts, however this was one doozy of a week and Jon Swift has me convinced I should be linking more liberally.

So, let's do this chronologically.

MONDAY January 21, 2008

Martin Luther King day, so the US markets were closed, but this is what the futures looked like. Complete carnage. Beanieville had a nice summary of the bull and bear arguments. Apparently, the bears were winning handily...



This washout led to our first and most famous trader blow-up of the week. HPT lost $31 grand, posted this now famous video, and became an Internet sensation overnight. Go ahead, watch it again... let's see if we can push it over 400,000 views.

Now there have been many theories bandied about for why the futures got so slammed. There is, of course, the rogue trader theory. However, let's talk about something that was only briefly mentioned and never discussed again... the Ducati theory.

I mean, if you've been following along for the last year, you've seen what seemed like intense dislike blossom between "the Fly" and his arch-nemesis, Ducati. Yet on Monday, "the Fly" with a very "third-tier" window display, tabbed Ducati. Perhaps there was advance knowledge of this move over in Europe... I dunno. All I know is that Ducati was tabbed and the market nearly crashed.

My personal theory on the futures selloff is The Dr. Brady Barr, "biggest idiot ever" theory. On Sunday night his infinitely idiotic "special" where he dressed as a hippo, hung out in a hippo field and then got freaked out about it aired on NGC. Then the futures sold off... seems pretty clear cut to me...

So on Monday, the futures closed near their lows... I think. Anyway, this isn't about market analysis. It's about link-whoring. Overnight, the futures went limit down and on Tuesday, we woke up to great fear and panic.

TUESDAY January 22, 2008



See that flat line between 2am and 4am? That's when the market died. As Art Cashin so aptly put it on Friday, Goldilocks was in the ICU and taking clear fluids. So early Tuesday morning, she died and, not ironically, she was killed by a bear.

Anyway, thankfully, "Ben the Beard" came in with a not so surprising "surprise" rate cut just after 8am. That's the green line. Goldilocks wins again!

Unfortunately, such volatility totally crashed all of the models that the team over at Move the Markets took so much time developing. Trendlines failed, blips blopped, and overall mass hysteria set in. Prospectus, even though he no longer trades, lit himself on fire to protest the pain others were feeling in the markets. It was an emotional day.

Oh, also on Tuesday Ragin Cajun, egged on by the perma-bullishness of Sloth over at Wallstreak, said Apple would hit $400 in a matter of weeks.

And another stock market blogger blew up, but it took 2 weeks for anyone to discover the body.

WEDNESDAY January 23, 2008



Wednesday was the kind of day that traders will talk about 5 years from now. It was probably a year-maker for many. Still, that didn't stop another blowup from happening as VO member Dehtrader, blew up his account. Another indication of the day's volatility was that fellow VOer, Wincity, used the word "toad" 327 times in a single post.

Blogging mayhem ensued, as Option Addict poked fun at certain bloggers, while those certain bloggers poked fun at other more famous, bloggers.

Even the CNBC anchors who normally stand together to pump the markets, fought like schoolchildren.

In every sense of the word, Wednesday was an emotional shitstorm.

In fact, due to all the crazed energy in the markets, Dr. Brett's blog melted and Dr. Brett was said to be "hitting the sauce" at a local watering hole.

Meanwhile, Shane laughed through the entire ordeal, like a mad buddha.

Oh, and finally, due to the market move, Ragin Cajun upped his target on AAPL to $600 a share.

THURSDAY January 24, 2008



After all of the fireworks of Wednesday, Thursday was bound to disappoint.

In fact, about the only thing I found interesting was the "subliminal message" I heard in Brian's stock market technical analysis review. Listen closely... in the middle of the video, a woman whispers "If you can hear this whisper, you're dying." True story.

Oh, and Ragin Cajun, spurred on by the ultra-bullishness of Sloth over at Wallstreak, raised his target on AAPL to $827 a share.

And another stock market blogger, blew up.

FRIDAY January 25, 2008



On Friday, the market suffered another bloodletting.

Indeed, by the end of trading on Friday, despite all the rate cutting and confidence building of the past week, the Dow found itself near 12,000... again.

Still, there was a lot of joking going around in Blogdom. HPT posted a parody video of himself and 12,000 crazy lunatics came out of the woodwork to call for his head, while Dehtrader, in his understated way, also poked fun at himself.

No DooDahs reminded us that we're freaking paranoid but also reminded me about my favorite press conference of all time. Still timeless...

In short, with the FOMC meeting next week, anything can happen. I can't imagine it being more eventful, but we'll just have to stay tuned.

Check back here often for your updates.

BONUS LINK! Ainkurn discusses HPT's blowup and what it means for his 4th tier blog.

Weekend "Conversation" At Dino's Place

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!

Re-Run

Well, I don't have a weekend blogger this weekend. So, for those who missed bloggerdotcom's excellent work from last week, I've created a link for you here to read it all again. Or you can just check the "label" section on the right hand sidebar for "bloggerdotcom."

Make a fortune off of Castro's death or off of hidden treasure. The decision is yours.

Or, scroll down to find the link of Jim Cramer losing it on CNBC.

Thank You Bloggerdotcom!

I want to extend my gratitude to "bloggerdotcom" for his very interesting posts this weekend.

Profiting from the death of a dictator or sunken treasure is some very cool shit indeed.

I mean, who needs "the tech sector" or "basic materials" when you have an imagination?

You've set a very high standard for "weekend blogging" on Dinosaur Trader. Thank you.

I will send you your billion stock options in the mail...

Weekend Blogger

Just a reminder. Please remember that this weekend there will be a few weekend posts courtesy of a man called "bloggerdotcom".

I don't know much about what he will be posting. It could be about stocks, it could be some really hot internet porn, who knows?

Thing is, be sure to check it out.

Weekend Blogger

That is correct, we have a weekend blogger. A cryptic fellow who goes by the name of "bloggerdotcom."

He poses the question: How do you make money when Fidel Castro finally kicks the government-issued bucket?

Please be sure to check in.

-DT

Weekend Walk

Here is a little collection of stuff for your weekend viewing pleasure. Again, if you are looking for trading articles, go check the NYSE Scalper's blog. He does a great job collecting articles on trading through the week and then posting them on the weekend so you can review them. Okay, here goes!

Miss Bill Moyer's documentary Buying the War? Tsk. Tsk... see it here.

No Impact Man with an excellent post. Is Environmentalism the new religion?

Media Matters does a superb job of critiquing the media. Non-partisan, check it out.

I love this band called The Books. They're really interesting if you like "headphone music". Lots of textures. The site is worth checking out, you can listen to all of their stuff for free. I suggest listening to "The Lemon Of Pink" first.

Project Vote Smart. Non-partisan ass-kickers.

Drink beer? I thought so. How about organic beer?

Did you watch Jon Stewart eviscerate John McCain this week. Check it out.

Spring is here and with spring comes bugs. Deal with it. Pesticides will give you cancer and kill birds. Have kids? Think the pesticides break down like the nice pesticide man tells you? Nope, they're there on the grass and when your kids play on the grass, they'll get on your kids. Why give your kids cancer?

Birding hotspots in the US. You probably live near one. Get out this weekend and enjoy nature.

Hate dogs? I really don't. But if you let your dog bark outside all night long, I may hate you.

Hate cats? I love cats, but some of these comics are funny.

Okay, now GET OUTSIDE!

Weekend Walk

No post for yesterday, my apologies. We had a night out last night (thanks to the grandparents) and we stayed out much later than expected.

Here are some interesting non-trading related links for you to peruse. But really, who's inside today? Spring has finally arrived.

If you're looking for some trading links, check out the NYSE Scalper's site. He always has some good ones.


1. Do you watch the Daily Show or the Colbert report? If so, consider yourself a knowledgeable American.

2. If you missed the CNBC segment on the mind of a trader, I suggest you check it out. We're actually a bunch of sensitive introspective guys! Who thought?

3. Check this out. This blogger keeps an attitude index. I just calculated mine... for the year,
I'm -72...

4. The Conet Project. Creepy. Play audio from old "numbers stations". The way that spies used to and still communicate all over the world. Featured on the Wilco album Yankee Hotel Foxtrot.

I'll try to get a history post up late sometime tomorrow. Enjoy the day!

Trade during the week, rest on the weekend

I trade all week, everyday... so by the weekend, I don't want to think about it. I suggest you don't either. It's just money.

So I've decided to take that spirit onto this blog as well. My weekend link posts will be about anything but trading.

If you are looking for some links about trading, I suggest checking over at Virtual Office member NYSE Scalper's blog. He always does a good job finding good posts about trading.

HOW FAR DO BIRDS FLY NON-STOP?

Ten satellite-tagged Bar-tailed Godwits in the southwestern pacific are providing a glimpse into the migratory powers of birds. One bird left New Zealand and flew non-stop to the northern end of the Yellow Sea in China , a distance of 10,200 km. The Godwit’s flight required about 9 days of continuous flight, and is now the longest recorded non-stop flight of any bird. Three other tagged Godwits have reached China in non-stop flights that lasted between 6.5 and 7.5 days. The progress of the Godwit migration can be monitored here.

ELLIOT SMITH

Great singer-songwriter who died under mysterious circumstances a few years back. If you don't know his music, this is a link to a new song that is being released posthumously. If you like stripped down music with just a singer and a guitar you might like this track.

DAILY SHOW

I am a big fan. If you happened to miss this bit from the last week about the Bush Administration's search for a war czar, check it out. I think it's one of the best segments they've done in awhile... and that says a lot, because I find most of their stuff hilarious.

PROJECT VOTE SMART

They can say what they do best, so I encourage you to visit their site. They work for us all, conservative and liberal alike. If you can, please support them.

Well, that's all for now. Tonight, when I'm not busy rooting the Islanders on, I'll work on a history post and have it up for tomorrow.

Enjoy the day. Go take a walk or something and stop staring at this damned screen!