DAY TRADING DOUCHEBAGS

Does BAIDU EVER go down?

Glad Jeff and I bought PUTS a few days ago - not.  Getting beat down like that line judge at the US Open.  It's up like 50 points in the last week. 

Got an email from Jeff this AM about a possible 'future' douche. 

Bought 5 AIG Oct $34 PUTS @ $4.20

Guess the future is now my friend.  AIG went up like your unit when a "4" walks by.

DOUCHE OF THE DAY (MAKE THAT WEEK) BAIDU

PUNCH IN THE FACE OF THE DAY - Delivery kid from Uncle Wong's.

Back from Vacation

Been quiet over here with vacations and various other commitments.  Trading has been light.

Got an email from JEFF:

"Got out of my BIDU short at breakeven today!!!!  That is a winning trade because I was down as much as $3k!!!!!  Sweet!!!  Funny how getting out at breakeven is so exciting!"

Oh, yeah.  Did I mention he sent it yesterday.  Nice play douche.  BIDU dropped $10 today.

WADE and TAIT are sitting on some ICE PUTS that have started to pay off.

WADE, with the foresight of a blind man, bought Citi Calls at $5 - good luck with those.

WADE still holding some JAV after the Phase III debacle. 

DOUCHE OF THE DAY - JEFF

QUOTE OF THE DAY - When TAIT said he was going to buy PUTS on ICE, WADE told him to wait for a buy signal or a bump up before getting in.  TAIT immediately pulled the trigger.  "You telling me not to get in is the only signal I need."  (Stock dropped 2 bucks and never looked back.  If he had waited he wouldn't have made jack.)

 

1 Patient

Kept WADE from cleaning up with JAV.  Perfect capper to a crappy two weeks.

Statistical significance of the Ereska trial needed to be .05 or less and it came in at... ready - .053.  Stock down 25%.  If WADE finds the guy who hosed the results, he's going to need some Ereska on his Ah-nus.

Shorted the QQQQ's and DUG for a nice day but got destroyed with JAV.

TAIT'S been out of the market this week while he's in orientation at his new QuickTrip job.  Look for him - he'll either be the guy with the over-sized broom or picking up trash in the parking lot.

First Time Douche... Won't Be His Last

From our new Brother in Douchehood...

Gschwind sent us this set of trades the other day - more than worthy of a post.

 

His Quote:

"Price .50 on Friday morning after decent earnings.
About 15 seconds after I paid too much, the POS drops for rest of day to end at .20! Also a bagholder on CERS at $2.

 

Made a quick $1000 on DXO before oil dropped & wish I had stayed in for huge rebound. 

Out at $4.58. It'll be $5 this week!"

Notice how he tries to save himself (Favorite move of a veteran DTD!) by throwing in that DXO trade (Thanks for calling us on that one BTW).

RIMFIRE AND PEANUTPILOT

AKA Wade and Tait.  Ok, so Tait returns from vacation from some sun and fun down in FL with his girl and expects to find some gaping wounds about his trading ability and stock picks. It was not to be.?.

Tait makes a casual call to see why Wade has not made a post to provide a laugh for the 2 or 3 folks that actually check the blog if they are totally bored. 

Come to find out Wade has lopped off 20% of his account value with a hideous block of trades and doesn't want to even think about The Douche and it's fan club.

 

Too bad.

 

Here is the short version - he got ripped apart like a wolverine going through a mouse in JRCC calls, DUG puts, LVS puts, Q trades, and followed Karen Finerman (douche mention) short on WFMI... taking DTD to a new level.

Tait has not faired all that well either with trades in QSII (got lucky to get out almost even), NYX, CME, CPSL, DRYS, and GERN, among a few others. He has been in and out of more DRYS calls than RIMFIRE has been in and out at a local homo-fest!

 

GERN calls destroyed Tait, but he's been able to balance that with CME and HBAN (loaded with $4 calls) plays - he would have done worse if not at the beach!!!

 

One more thing - I wonder if our good friend Jeff held his AIG puts through today? That was an expensive coffee date he had this morning if he did. Hope she was cute buddy...

 

DOUCHE OF DAY - Karen Finerman - Wade would follow her into a burning building, but it will be a while before he follows her into any more trades.

Assetsophilia - (ass-ets-o-phil-i-a) Bleeding money.

Ever see one of those Samurai guys slice through one of those bundles of bamboo thingies?

The market was the Samurai and Wade was that bundle of stuff.  The market then proceed to urinate on Wade's birfurcated body.  Then burn it.  Then urinate on the burned body.

That's how bad the last two days have been. 

WADE BOUGHT - 5 TSL (Aug) $30 PUTS for $1.10 - SOLD or $1.15 (25) (greed is NOT good - should have made $400 but held on thru a reversal thinking it would stop - dumb)

WADE BOUGHT - 10 JRCC (Aug) $20 CALLS for $1.55 - SOLD for .65 (-900)

WADE HOLDS - 31 DRYS (Aug) $6 CALLS at .90 (Can't wait to see how this works out.  I rented Titanic last night - is that wrong?) 

TAIT HOLDS 20 of the same DRYS CALLS.

WADE HOLDS - 8 DRYS (Aug) $7 CALLS at .40.

TAIT HOLDS - 8 DRYS (Aug) $8 CALLS at .30 (Yeah, those will make money.)

WADE HOLDS - 10 AVAV (Aug) $30 PUTS at $2.15 (Look at that chart - is there any reason in the world that did not tank today other than the fact we own it???) 

TAIT HOLDS the same AVAV PUTS.

TAIT HOLDS- 10 QSII (Sept) $50 CALLS at $7.60

WADE STILL HOLDS 2500 JAV - LOOK AT THAT CHART PEOPLE - IT'S NOT TOO LATE.  ERESKA NEWS VERY SOON.  (DTD is not liable for any idiot following us into any trade)

We're not even putting in the various chasing QQQQ's and SPY trades which never worked out.  Wade has sworn them off. (Yeah, right)

This is a good one.  Went to place an order for GERN CALLS based on Tait's recommendation. (1st mistake)  Since we've only been douched 3 or 4 times in the past by this stock, figured this time it might work out - right.  Said no funds available - not sure why.  10 minutes later the Order Status screen shows 1 contract bought - WTF!  Now I own 1 contract of GERN CALLS.  Probably go up $5 tomorrow.

If DRYS hits tomorrow, Wade and Tait are grabbing a big fat steak.  If it tanks, we're getting a hard line loan from the money store.

DOUCHE OF THE DAY - Tori Amos for screwin' with WADE'S head last night.

PUNCH IN THE FACE OF THE DAY - The next Japanese guy I see on the street.

A Dog's Tail . . .

Wade got wagged around by the market today, as usual, and donated heavily to the zero sum game. About the only green he sees are the trades Tait recommended, a rarity in itself, and that really irks him.

Wade on Skype - I'M A F#%KING DOUCHE!!!! 10:48 AM

Couple that with losing to the wost racquetball player at the gym today, AND having to escort his lovely wife to a Tori Amos concert tonight, almost guarantees that some poor man or women will suffer a face punch tonight.

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DOUCHE(S) OF THE DAY - Sold SPY and and STEC puts(carried over from Friday) before giving them a chance to take a mid day digger. Hold on, not done yet - bought JRCC calls at the high of the day.

Both soldiers made amends by buying DRYS calls right out of the gate, however, Tait has been doing this for the past week, so no genius there.

WADE BOUGHT - JRCC - 10 (Aug)  $20 CALLS at $1.55

WADE BOUGHT - LMT - 7 $75 PUTS 2.90 out at 2.40 

WADE BOUGHT - DRYS  - 15 $6 CALLS at .90

TAIT BOUGHT  - DRYS - 40 $8 CALLS at .20

WADE still holding several thousand JAV shares - looking to pass them down generation, after generation.

Random Wade Quotes and Tait's Early Trading Days . . .

Wade - never to be confused with Thomas Jefferson, Mark Twain, or Borat . . . .  

"I'm going to punch the Dow in the face"

"I didn't enter that trade . . . that trade entered me"

"Only I could enter a trade, go out and wallk the dog, and come back down 500 bucks"

"The first person I see in a lab coat is gonna receive a kick to the liver" (after one of his many losing efforts with pharmaceutical stocks)

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A rare video of Tait in his early trading days (not much has changed!!!)

http://www.youtube.com/watch?v=PbcctWbC8Q0

Update - I-pod

Sold for $250. Jeff recovered some of the $1500-$1600 loss on AAPL calls he had going into earnings!!!!

He is now in therapy with his FM radio on . . . .

Market Off It's Sugar High

And Wade coming off a bender. Tait successfully traded Wade's account yesterday selling CTRP CALLS at the high of the day at a stock price just over 50. Tait also bought 10 CALLS of YGE for a $450 profit.

Wade's comment after seeing his account, "What is all that green on the screen?", obviously never seeing all his trades profit.

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DOUCHE OF THE DAY - DRYS Calls. bought 10 contracts of DRYS which, even with a 200 point market run, could not muster a gain - probably the only stock not in the green.

PUNCH IN THE FACE OF THE DAY - Wade for texting me every 30 seconds dictating his trade demands, none of which were followed.