Friday, November 2, 2007

Weekend Open Thread



Feel free to discuss anything.

Also, I've added a game to the open thread. My friends and I often play this game, Wise and Otherwise, when we take vacations together. It works like this... someone picks a card from a deck and reads one of the sayings off of the card. The other players have to finish the saying. The player who fools the most people into thinking that their saying is correct, wins the most points that round.

Come back Sunday night and vote for the saying that you think is correct.

So, here's the saying you have to complete via the comments section.

There's an old Swedish saying,
One should choose one's bedmate...


Okay, and throughout the weekend I'll update this thread with some interesting links. Also, feel free to add your own via the comments section.

1. HPT has an excellent video of Ron Paul up at his site. A Republican I actually like and would consider voting for.

2. Check out this Indian condom PSA.

3. Sure, Chinese stocks may run into the Olympics, but once people see how freaking polluted the place is, perhaps they'll rethink their investments... don't expect many new world records, that's for sure.

4. Completely awful photography, courtesy of the Wall Street Fighter. While you're there, make sure to search out his post on things that were cool in 1977 but would get your ass kicked in 2007. Hilarious, original stuff.

5. Words of wisdom, from Bubs... or, at least, plagurized by Bubs...

Panda Bear, "Comfy In Nautica"

Some skating footage for Moneyskater, even though he hasn't blogrolled me yet.

Great song... atmospheric. Think Beach Boys meet the year 2007.


The Market Giveth And I Giveth Back

Two days in a row where I was up nicely and managed to give large sums of money back to the market. I've been trading nervously and overtrading with absolutely no patience. If something doesn't work for me right away, I've been getting out of the position... often this means I buy back at higher prices or sell at lower prices.

In short, I'm trading shitty in a market that's great for trading. I feel like I should be losing money... no joke.

The market hasn't been this good to trade since August. Hopefully we can keep this up for a few more weeks. Perhaps that will give me enough time to learn how to trade again.

Anyway, my best trades of the day were shorts in ITU, CNS and TBSI. I also caught smaller moves in AB and RWT.



On the downside, I threw money away trading MTG. This stock frustrated me to no end. Another stock that destroyed me was ANW. I lost over $500 in each trying to short them when all they wanted to do was churn or move higher. These were silly, revenge trades.

Anyway, it was nice to surf midday. Tomorrow the surf here could be huge. I will try to get some video and post it over the weekend. While I was surfing I forgot all about the market... it's really nice to have an activity that takes your head away from the market. Really, I'm being serious here... if you want to be a better trader, get a hobby that you can lose yourself in from time to time... it's healthy.

Again, come say "hi" on the open thread this weekend.

Here's the stats:
P&L,
$2087
Best, ITU,
$953
Worst, MTG, -$507

60,600 shares traded.
29 stocks traded. 14 winners, 15 losers.
200 trades.

Virtual Office, $5150. Dow, +27.23, 13595.10.

Me, $2087 on 60,600 shares traded.
Akalawoo, $1346 on 8 contracts traded.
Dehtrader, $1150 on 1900 shares traded.
Evolution, $363 on 101,400 shares traded.
OBAT, $184 on 16,600 shares traded.
Wincity, $61 on 1200 shares traded.
Stewie, no trades, vacation.
Denarii, -$41 on 1300 shares traded.

Well, they brought the Dow and Nasdaq positive into the close... rah! rah! Dow 50,000! NOT!

Meanwhile, volume was good again as we crested the 1.7 billion level and volatility was good, despite the fact that the VIX closed negative.

I'm neither a bull or a bear, I'm a trader. As a trader I can say this, the market feels very heavy. However, that said, you could easily spot the leadership in the market today as the ferts and techs took off.

Sure, you could say that the selling is confined to one sector. This is largely true... however, it's confined to the most important sector in the whole friggin market. To pretend that the woes of the financial sector won't bleed all over the rest of the market eventually is a bit crazy in my opinion.

But look, I'm usually wrong about broad market moves. So, you can go into the weekend knowing that the Dow probably will get to 50,000 sometime next week.

A good day for the VO as almost everyone finished in the green. Evolution told me he was having a better day and gave a lot back, I had the same situation, even though I poked out midday for some surf. Had I hung around all day, I probably would have given it all back.

I suck like that.

Midday Surf Session

I gave back a grand and hit the waves.

Back for the last hour.

C'mon Wombat... Daddy needs a new toaster-oven.

Respect The Wombat.


Stock Earnings For Friday November 2nd

Who cares? The market freaked out yesterday. It's emotion and not earnings reports that's ruling this market right now.

Take out that "lint free" cloth and wipe your glasses.

The job number is about to be released... it will give the bulls the chance to argue for Dow 50,000 and the bears a chance to argue for Dow 10,000.

In short, anything can happen today and probably will. The close is more important than the open.

UPDATE: Nonfarm payrolls up 166,000. The market freaks out to the upside! Dow 50,000!




QUESTION: Who let Michelle Cabrusa Cabrera out of the 4:00am time-slot? Click!

Thursday, November 1, 2007

Virtual Office Poll

The Virtual Office chews traders up and then spits them out. Lately, the rate of turnover has increased.

Who will be the next to go?

Akalawoo
Dehtrader
Denarii
Dinosaur
Evolution
Misstrade
OBAT
Stewie
Wincity

The Mae Shi, "Run To Your Grave"

Great song, cool vid.

Incorrect State Of Mind

I churned my ass off today popping in and out of stocks.

I kept thinking, "the market is going to 0!" and then alternately, "the bottom is in, Dow 50,000!"

I sucked.

I made good money early and then throughout the day gave it away in dribs and drabs. Big drabs as far as DRYS is concerned. Pretty much lost a point every time I traded this stock.



I made good money in DSX on the long side and in FED and MTG on the short side. But the sad fact of the matter is, I didn't trade stocks well despite the fact that I made money. I didn't catch any good moves with any type of size.

It was very frustrating.

In fact, I'm already sick of talking about it. I'm turning the computers off and am going to get a lot of sleep tonight in hopes of doing better tomorrow.

Here's the stats:

P&L,
$1202
Best, DSX, $953
Worst, DRYS,
-$584

75,800 shares traded.
22 stocks traded. 9 winners, 13 losers.
297 trades.

Virtual Office, $3822. Dow, -362.14, 13,567.87.

Evolution, $1484 on 65,400 shares traded.
Me, $1202 on 75,800 shares traded.
Misstrade, $1100 on 1000 shares traded.
OBAT, $208 on 11,600 shares traded.
Wincity, $70 on 600 shares traded.
Denarii, $65 on 5600 shares traded.
Akalawoo, no trades, zzzzz,
Stewie, vacation.
Dehtrader, -$307 on 6800 shares traded.

Wow, well we had a great day in terms of volatility rising as well as volume traded. Over at Wallstreak I tend to trade barbs with Mr. Ragin Cajun, a permabull. It's fine to be bullish, I often am... however, everyone needs to note that volume rises whenever this market sells off and retreats when it goes up. That's just not a bullish trend. We traded almost 1.8 billion shares today on the NYSE.

Fine, whatever! It's been like that since February... it may just be like that until the end of time. Dow 50,000... whatever.

I'm all for a rising market, but this bull market is 5 years old. That's more than a little long in the tooth.

The market is just like a growing tree; sometimes limbs need to be cut to keep the tree healthy.

Poetic, no?

Anyway, we gapped down a lot. I had a hard time really getting good intraday traction. It wasn't the blowout day that I expected here in the VO... go figure.

Meanwhile, go welcome Wincity.

NOTE: Oh, I almost forgot to mention that Maria Bartiromo is a big idiot for once again focusing on the MOC sell orders on a day when we're down 300+ points. I want her to mention the MOC sell orders the next time we're up 10 points on the Dow if they're so important to her.

New Member Of The VO

I don't know what it is... it's like they hover like sharks waiting for blood and then they attack! It seems that whenever a VO member decides they can't handle the extreme pressure of the VO another person steps in to fill the void.

However, in the case of Tapeworm dropping out, it's almost like addition from subtraction, but still, we'll just say there's a "void" to fill... (wink, wink!)

Anyway, we have a new member of the VO, starting today. His name is 'Wincity' and while that's a very positive name, I have no doubt that he too will soon fail and be forced to make an embarrassing exit from the VO, since 99.9999% of all daytraders lose money.

His blog is somewhat difficult to decipher. But for those who figure it out it could make you millions and millions and millions of dollars.

Exclusive Footage! MtM Members Lay Siege To VO

Watch as the entire gaggle of "movethemarket-ers" lay siege to the VO after the announcement of Tapeworm's departure.



Of course, it's exactly this type of crowd activity and mob mentality that cannot be explained by lines and algorithms...

Meanwhile, note to MtMers... it's a "virtual" office... it cannot be destroyed.

Another One Bites The Dust

Listen, in the world of the VO, only the strong survive.

I tell the pikers (and futures traders) before they join, "Look, you're a piker and you'll never "make it" but if you want to risk everything for the glory of joining the VO, then be my guest."

Some join, many face the honest truth that they are pikers and move on. Don't forget, 99.9999% of all daytraders lose money... joining the VO doesn't change that statistic.

So, Tapeworm is gone.

It started with posting the porn over at MtM. I mean, you have Mr. Rodgers and a gaggle of old astrophysics majors trying to figure out the market with special graphs and squiggly lines and then out of nowhere, Tapeworm starts posting porn on their site. Was this just a desperate attempt to boost traffic over there? or was it the first signs of Tapeworm becoming unglued.

Who knows?

Soon, I expect MtM to set up a "sweatshop cam" or something in order to entertain the masses.

Fare thee well, Tapeworm! I'm sure that you will be readily absorbed into the shadows of this world, never to be seen again.

NOTE: I've just been handed a note by special courier... it is written in code but I've been led to believe it is a new request to join the VO by another stock trader.

The Wombat Beckons... Come Hither Volatility!


Stock Earnings For Thursday November 1st

First day of November trading. Let's start off the right way!

I'll be watching the following...

BGC, JLL, LVS, MTW, SUN, SWN, AGU, DNR, XOM, OSK

Meanwhile, the futures are getting beaten. Perhaps now that the FED decision is behind us the market is free to act in a rational matter again. I mean, people are going to have to deal with the $100 oil thing soon...

Oh, and CROX is getting smacked. That makes me feel warm inside. Sorry, Goddess.

Perhaps that will give them less money to fund their world domination. Also, I think CROX are made of plastic... surely, they are not biodegradable. In fact, they are definitely made of plastic and they are definitely not biodegradable. Worse yet, they are going to make ugly plastic clothing to match their ugly plastic, non-biodegradable shoes. Thanks, CROX.

Can you imagine when the fad ends, the way they'll be piling up in landfills?

And think.... they'll still be there when our grandchildren are having kids. Sigh...

Why Media Ownership Needs To Be Spread Thin

Bruce Springsteen has a new #1 album that is on it's way to being Platinum (take note, JJ). Meanwhile, it's not getting radio airplay. Why not? Click here to find out.

Wednesday, October 31, 2007

The Indian Princess

One night we were having drinks with friends. There were ten of us around a large, round, candlelit table at a local restaurant. We were the last patrons that evening and it was pretty obvious that the waitstaff wanted to go home, but since we all had procured babysitters on the same night, we were taking advantage of the situation.

The waiters would have to do just that... wait.

Discussion was wide-ranging and eventually, because we were all drinking, someone brought up "the supernatural." My friend Sal looked at me and said, "You've never seen anything fucked-up at your house, have you?"

The table went suddenly quiet. "What do you mean?" I asked, somewhat defensively. "Like a ghost? No."

Another friend chimed in. "Yeah, I've heard stuff about your place. Actually, we used to not walk by your house because we were freaked out about it."

Normally, a conversation like this would be funny, however, I was immediately pissed because Judy really believes in this stuff. I glanced over at her and she was "whited."

At this moment, the restaurant manager walked over to the table and informed us that they were closing up for the night and that we had to get going. With this, the conversation ended and we all headed home.

In bed that night, Judy couldn't sleep. Every time I woke I'd look over at her and see her eyes wide open, staring at the ceiling. Something would have to be done. I had to find out what was up and then make up some story to tell to Judy. If the truth was that our house was controlled by the supernatural and that the supernatural wanted to rape our cats, well, then... I would have to somehow thwart this truth from getting to Judy.

So the next night we went to Sal's house for dinner. He took me outside to show me some masonry work he'd had done. I decided to bring up our conversation from the night before, "Dude, you completely freaked Judy out with that talk about our house..."

"Oh, that! Yeah, well, I'd be freaked out too!" he said. A little bit too nonchalantly for my taste.

"Why? What did you hear?"

"I heard there's something there... like, not a ghost, but more like some malevolent power. An entity or something."

"Sal, this sounds like a bad movie."

"Yeah, well, I'm just telling you what I heard. Like, I heard this 'entity' pulled a young girl across the floor by her hair."

At this point, I was pretty sure he was just trying to fuck with me and I told him as much. But the next day, I saw my other friend and I asked him the same question.

He was more evasive. "I dunno. I just heard stuff, some of it bad. I dunno. I don't really believe in stuff like that."

"Stuff like what?" I pressed.

"You know. Ghosts and shit."

"So you heard our house is haunted?"

"Yeah, more or less."

Anyway, weeks went by. Awful weeks. Weeks where I held this "secret" about our house that I wouldn't tell Judy because I knew it would just freak her out. But, truth be told, I was a little freaked out too. Moreover, I didn't even know "the whole story" I had just been fed insinuations and my imagination did the rest. Like I thought about my daughter being dragged around by her hair... by some "force." I thought of the movie Poltergeist. I was freaked out.

So anyway, we were doing some work on our house and the village building inspector had to come and approve the work we wanted done. I had met the inspector before because I do some volunteer work for the town. One night after a meeting, while everyone was shuffling out, he whispered me aside and invited me to have a drink of some of his homemade moonshine with him. He was a strange dude but our house had to be inspected so he had to stop by.

The day of our appointment he came to our front door and just stood there, looking past me into the house.

I greeted him, "Hey, Jay. What's up?"

"I haven't been in this house in... years... Ever see anything here?" He had this spaced out look on his face.

"Are you kidding me? I mean, we've been here for 5 years and suddenly in the last month everyone is telling us the house is haunted. What gives?"

Jay walked past me and into the house and stood at the base of the stairwell. He looked up the stairs. "That's where she used to be," he said. "And she also used to hang out in the basement... in the workroom. You know? The oil burner room?"

"Yeah, that's my 'man room'" I'm very protective of my man room.

"Yeah, well, that's where she showed up."

"Who?" I asked.

"The Indian Princess," he said as if I should have known.

Over a beer, Jay went on the explain everything in detail. The man who lived in the house before us was a big fisherman and he had a huge freezer in the basement. He would clean and gut fish down there, sometimes for hours at a time. Well anyway, apparently he was down there, cleaning a fish when he "went cold" and felt a strange presence in the room with him. He turned around and saw what appeared to be a young Native American girl. She was dressed in brown rags but was wearing a crown made of flowers and bird feathers. He looked at her, she gasped, ran into a dark corner and disappeared. The man went upstairs and told his family but no one believed him. Apparently, that was the first of many sightings that he had.

Meanwhile, the father had a son but they had a prickly relationship. But when the father was dying, (right before we bought the house) the son admitted that he too had seen the "Indian Princess" and that he hadn't told the father because he wanted his mother to think his father was nuts. He told the father that "the Princess" was jealous of the girlfriends the boy brought home and would act up at the most awkward times.

I mean, what do you do when everyone is telling you that your house is haunted?

I decided to call the old people who live on my block. Surely, if a little girl had been dragged around by her hair in my house by some "entity," someone would have heard about it. I first spoke to the guy who lives directly across the street.

He told me he'd never heard anything like that but went on to say, "I did hear once that someone spotted a whole pack of 'braves' running through the woods over by Village Hall."

Mrs. Murphy, "the witch" told me she hadn't heard anything about my house either but that her mother once woke up in the middle of the night and claimed that she was being attacked by a soldier. She said that some famous battle had been fought here during the Revolutionary War and that she thought it could have been because of that... but she also told me that her mom was really old and probably a little crazy.

Everyone, it seemed, had a ghost story, but none of them knew ours.

Finally, one neighbor, the big gossip on the block, told me that she had heard about the "Indian Princess." She had heard the same stories that Jay had told us, directly from the homeowners. But she also told me that the father was a raging alcoholic and that the son was addicted to drugs. "I mean, you're talking about a teenage boy in the late 70s... they all saw ghosts back then. And the father... I don't think he was ever sober. Always catching fish or drinking like one."

This was enough for me to go back to Judy with and calm her down. "The people who lived here before us were alcoholic, drug-addled freaks," I said. "They saw ghosts all the time... big deal!" I tried to sound unconcerned about it all.

Meanwhile, it's been 6 years since we've lived here and no sign of "the Princess" yet. However, every once in a while when my daughter wakes up screaming, like out of a nightmare or something, I jump right out of bed because I think I have to get into the next room before the "Indian Princess" gets to her first.

Even if she just wants to put a bird feather in her hair...

A Small White Table Under A Bright Light



So I've had a bunch. Good story actually, to tell it all. I mean it's Halloween and I hear of 3 deaths in the course of a night.

But I have no time. Instead, I will hone the "Indian Princess."

The Great Pumpkin (warning, strong language)

Enjoy! Be back later, bitches!



NOTE: Whenever LUCY opens her mouth, I laugh...