The RO Report, "Bloody Gobbler" Edition

What an egregious waste of wealth there at the end of the day.

Apparently, there were many leftover Thanksgiving turkey legs... and whoever controlled the final prints in the REIT stocks decided to shove them directly up trader's asses.

Why do stocks with published buy imbalances print down multiple points when the market is ripping? What does it all mean? Cold winter? End of days?

Anyway, let's get back to our holiday. This day will go down in infamy. I'm sure none of us will be trading the day after Thanksgiving in 2009.

Out of 18 traders today, 5 were gross positive, or 28%. Pathetic. 8 traders lost over $1,000 gross, while 2 traders made over $1,000 gross. Worse yet, "Trader D's" bot is the "Lucky Pierre." I can't imagine the joy "Trader D" is feeling right now, reading this, knowing that he missed a disaster. I was #13 of 18 or really smoked. The Manservants rule.

"Chambermaid" - Trader A, -$32,076 on 504k shares traded.

2. Trader P, -$19,126 on 257k shares traded.
3. Trader Z, -$9,764 on 278k shares traded.
4. Trader V, -$4,912 on 66,800 shares traded.
5. Trader C, -$4,509 on 73,400 shares traded.

"Lucky Pierre" - Trader 10*, $8,092 on 2,000 shares traded.

2. Trader T, $1,043 on 0 shares traded.
3. Trader H*, $625 on 1,900 shares traded.
4. Trader U*, $174 on 0 shares traded.
5. Trader 6*, $79 on 0 shares traded.

Click here for today's "heatmap."

A Day Of Organization

Sounds boring, but imagine you were leading an army to war each day... your troops get tired, they get unorganized, some of them "get gay." So it makes sense on a half day for me to just sit back and reorganize my screens and get my troops back together, so to speak.

In a way, it's almost therapeutic to make my sectors "tighter" and to make my layout more efficient. Crazy, but it's true, I find it relaxing.

If I bother to trade at all, it will be the last 30 minutes. And I could be wrong, but I don't think I'll have an RO post up this evening, because it looks like "Trader N" is being "all French" and taking a vacation day.

However, I will say this... I have a history post about 70% done. It won't be up today, but perhaps I'll work on it and have it up for next week. I'll make this promise... it will definitely be up by December 7th, because I can't go a full year without writing one.

Anyway, I hope you all had a restful holiday. Our family dinner featured a rousing discussion of squirrels... are they crazier this year than in the past? Most people at the table seemed to think that yes, the squirrels are "acting out" more than usual this year.

What does it mean? Cold winter? The end of days?

Daft Punk, "Da Funk"

The RO Report, "Turducken" Edition

Today, the market was supposed to be slow and sleepy ahead of the holiday, but instead, we ripped. My bottom call from a few days ago looking safe for now.

We're 1200 points from the lows.

However, despite the market rip, I got shaken out in the morning. So I went surfing, got eaten alive by the gnarly waves, dinged my board, and came home to see the RO up size. Man was I pissed. But it just proves that you always need to keep an open mind in this job... I say it over and over, but it's so easy to talk yourself out of trading. The truth is, there's almost always opportunity. You just have to find it.

Moving on, anyone have experience with Turducken? Seriously? Not that I want to eat one or anything, I'm just wondering who I need to block from the blog.

I imagine that most of you are already getting ready to stuff your fat American faces with food, so I'm just going to get to the numbers. If you're not American disregard that comment.

Out of 22 traders today, 17 were gross positive, or77%. 14 traders made over $1,000 gross, which I find pretty amazing the day before Thanksgiving. Only 2 traders lost over $1,000. I was #11 of 22. Have a Happy Thanksgiving. Be safe.

"Lucky Pierre" - Trader D, $26,517 on 389k shares traded.

2. Trader B, $22,182 on 126k shares traded.
3. Trader 10*, $10,714 on 3,900 shares traded.
4. Trader P, $8,026 on 290k shares traded.
5. Trader J, $3,803 on 130k shares traded.

"Chambermaid" - Trader 7, -$8,274 on 10,400 shares traded.

2. Trader A, -$1,442 on 552k shares traded.
3. Trader Z, -$666 on 6,530 shares traded.
4. Trader E, -$92 on 10,200 shares traded.
5. Trader U*, -$87 on 0 shares traded.

Will Prop Trading Die?

This bald-headed dick seems to think so. (h/t "Pete")

BTW, sorry to link a video that features both Dennis Kneale AND Michelle ("I'm 97% plastic!") Cabrusa Cabrera.

Peter Shiff On CNBC

Remember when they used to abuse this man on CNBC?

(h/t OOnr7)

Late Night Infomercial

Smashing Pumpkins, "Bullet With Butterfly Wings"

Anyway, I tried to get "Trader A" to post a song but the man is too damned honorable. He didn't officially spray since he didn't beat Trader C by double, and so he wouldn't take the song saying he "didn't earn it."

And since I lost money, I'm now forced to post bad music.

I could see catching some flack for this one, but for me, this song marked the end of anything good that came from the Smashing Pumpkins. Two good albums then shit.

The RO Report, "DGX Sucks" Edition

The report will be late tonight. Just know, DGX ruined my day.

UPDATE: So yeah, I was having a decent day and threw it all away on an end of day trade in DGX. The stock had a decent buy imbalance but basically went straight down. I had 4k of it. Painful.

But enough about me, the RO, once again, found ways to make money. And really, that's what trading is all about, finding a way to make money. I've been nervous recently just thinking about how people may step away from the market after all this lunacy, but all it means is that we'll have to find another way to make money. Perhaps we'll have to hold stocks longer term, who knows? I'm confident we'll figure it out.

Some dude was on CNBC today and basically said that proprietary trading was gonna die, and soon. The good news is that 99% of what you hear on CNBC is dead wrong. If he's not, this blog will quickly morph into a blog about anxiety.

Anyway, it's late and I'm tired. I've been suffering from a small bit of insomnia which began the other night when I left "Trader P's" place at 4am. I haven't slept since. Naturally, I blame him. So I'm going to go listen to some complex music in my headphones and get taken away by the trails.

Out of 24 traders today, 16 were gross positive. 7 traders made over $1,000 gross, and 3 lost over $1,000 gross. I was #15 of 24, gross positive, net negative. Very disappointing. However, on the bright side, I thought the market showed some very healthy action today. I, for one, am looking forward to more up days. Bosses win.

"Lucky Pierre" - Trader A, $26,682 on 1.1 million shares traded.

2. Trader C, $16,298 on 120k shares traded.
3. Trader P, $6,516 on 242k shares traded.
4. Trader Z, $5,901 on 348k shares traded.
5. Trader N, $3,242 on 177k shares traded.

"Chambermaid" - Trader B, -$4,391 on 141k shares traded.

2, Trader R, -$2,227 on 120k shares traded.
3. Trader N, -$1,029 on 39,000 shares traded.
4. Trader F, -$955 on 200 shares traded.
5. Trader L, -$918 on 32,000 shares traded.

"I Wanna Dance!"

Best part... 0:21 - 0:23...

Dennis Kneale Is An Idiot Dick!

I haven't watched CNBC for months and months. I just remembered why...


-Dennis Fucking Kneale

Obama just spoke on the economy again. He's going to hold a press conference each day THIS WEEK. He does this because it shows leadership... it gives people confidence. Someone is steering this fucked-up ship afterall.

(FYI, Bush held 17 his ENTIRE first term! A term that, never forget, included 9/11.)

Anyway, so immediately after the "presser" Dennis Kneale gets the first comment, "What happened to the great orator?" he whined. "He sounded like a boring technician up there."

It's a fucking PRESS CONFERENCE you fucking idiot! You wanted the "Yes We Can" speech again, during a press conference on the fucking economy that only months ago you were saying was in good shape? The same economy that you argued was being "talked into recession?"

You are irrelevant Mr. Kneale. Looking forward to seeing you hit the unemployment line sometime in 2009. Oh, and you're a dick.

Happy Thanksgiving!

A New Link

I feel like this is probably a site that you all know about and I'm late to the party, but check out Finviz for a great page on Industry groups. (h/t "Trader C")

Just click "Screener" and then pick the parameters that you want to screen for. Here's a screen I made for "Residential REITs." Back in the day, we'd pay $1650 a month for Bloomberg terminals that gave us this information... now it's FREE!

Anyway, like I said yesterday, I'm tightening up my layout and my baskets. Knowing exactly which stocks do what, and what stocks they trade lockstep with, is important.

A lot of trading is about making good decisions in the face of constant market uncertainty. But a lot also comes from knowing your shit. You have to put in the work if you want to be successful.

(BTW, what the fuck is wrong with Charlie Gasparino? Charlie... why are you such a dick?)

Yo La Tengo, "From A Motel 6"

Beat this, stock blogosphere!

The RO Report, "Optimism" Edition

Look back in my archives and you'll see that I've been bearish on this market for well over a year. I have to say that after I read the C news last night I felt bullish, in a giddy way, and that feeling didn't leave me all day.

Folks, I believe our long national nightmare may be over...

I'm impressed with the volume today, and I'm impressed with the leadership that Obama and his team are showing. I feel good about the market here and will be somewhat surprised if we see 7449 again. We'll see.

Despite my bullishness, I was unable to convert to big gains. I underperformed the RO all day, and underperformed them in the end as well. That's okay... the RO is so good, that you'd make a nice living underperforming them on a daily basis.

If you're a prop trader, these are the markets you wait for... stack it up and save it. We'll have dry spells again. If you want this to be a career, you need to be responsible with your gains and put them away... call it a confidence stack.

If you're working in a shitty firm where the majority of traders aren't making any money and everyone just worries about getting tenths of pennies shaved from their commission rates, drop me a line (email located under my profile), the RO is always hiring active traders who have their Series 7.

Finally, I'd like to highlight "Trader N" for a second. Here's a dude who started trading a year ago. He took some hits along the way, but he's kept a positive mindset throughout and he's been active with the group of traders we have. He's learned a lot and I can see him becoming a leader among our group in 2009. Trading is a very difficult job, and it's great to see a new guy succeed.

As for me, I plan on taking it real easy into Thanksgiving now that we've had a strong rally. I plan on tightening up my layout, getting some hot keys reconfigured, and basically getting ready for December.

I'll post the RO each day and comment, but otherwise, this blog will be quiet until next Monday.

Anyway, out of 22 traders today, 20 were gross positive, or 90%. 16 traders finished up over $1,000 gross, and 1 trader lost over $1,000 gross. In fact, the trader who lost over $1,000 gross was a "Chode" today, which means he went from "Lucky Pierre" all the way down to "Chambermaid." Ouchie. I was #9 of 22.

The Bosses dealt the Manservants a severe blow:

"Lucky Pierre" - Trader A, $54,636 on 1 million shares traded.

2. Trader N, $40,537 on 150k shares traded.
3. Trader Z, $26,579 on 261k shares traded.
4. Trader P, $18,849 on 316k shares traded.
5. Trader C, $12,424 on 157k shares traded.

"Chambermaid & Chode" - Trader D, -$3,665 on 349k shares traded.

2. Trader 3, -$532 on 10,000 shares traded.
3. Trader I, $57 on 800 shares traded.
4. Trader U*, $205 on 0 shares traded.
5. Trader 8, $238 on 3,400 shares traded.

See you tomorrow.

Obama's Economic Team

Well, get used to these names...

I Hope This Rally Sticks

I'm all for volatility, believe me, but I've never wanted a rally to stick like I want this rally to stick.

Look, we need some good news to talk about over Thanksgiving. Thanksgiving isn't supposed to be depressing... that's what Christmas is for.

I like today's trade so far. The rally is being led by the banks and brokers, which is exactly what we need. If these stocks can hold on for the rest of the day, I'm looking forward to a strong close... potentially, very strong.

Unfortunately, I'm not making much money so far today... the RO is doing well without me. Sometimes that happens.

Let's see if I can catch up though later in the day. I'm feeling optimistic about the market for the first time in, I dunno... a year?

So if the market does rally into the close, this trader is going to be very long.

Another Good Google Search...

Your Obligatory Sunday Evening Citigroup Rescue Headline

We're saved!  Maybe...

Apple iTunes Store Goes Down, People Riot.

I haven't been able to buy a song on iTunes since Friday.  Looks like I'm not the only one...

This is a pretty funny thread.

Here too...

As you can see from some of the comments, habits learned from toddlerhood don't necessarily disappear after adulthood.

Obama Reveals Parts Of Economic Plan

Fuck yeah.  Read the article here.  Excepted below.

“We’ll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jumpstart job creation in America and lay the foundation for a strong and growing economy,” Mr. Obama said. “We’ll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels, fuel-efficient cars and the alternative energy technologies that can free us from our dependence on foreign oil and keep our economy competitive in the years ahead.”