Sunday, May 09, 2010

Ode to Nothing Part II

Once upon a midday dreary, while I pondered weak and weary,
Over many an overbought issue and overhyped bore,
While I nodded, nearly napping, suddenly there came a tapping,
As of some one gently rapping, rapping at my office door.
`'Tis some visitor,' I muttered, `tapping at my darkened office door -
Only this, and nothing more.'


Ah, distinctly I say it was in a bleak day in May,
And each separate dying security wrought its ghost upon the floor.
Eagerly I wished the morrow; - happily I had sought to borrow(shares)
From my books surcease of sorrow - sorrow for what was in store -
For the rare and radiant piledriver whom the angels named ‘The Big Score’ -
Nameless here for evermore.


And the silken sad uncertain plunging of each red candle
Thrilled me - filled me with fantastic terrors only once felt before;
So that now, to still the beating of my heart, I stood repeating
`'Tis another stock entreating entrance to a lower floor -
Some falling stock entreating entrance to a lower floor; -
This it is, and nothing more,'


Presently my account grew stronger; hesitating then no longer,
TNA I said, VXX or AAPL and more, truly your short sales I implore;
But the fact you have so recently pushed higher, every day a little higher
And now so faintly you came tapping lower, tapping lower at my office door,
That I scarce was sure I heard you' - here I opened wide the door; -
Redness there, and nothing more.


Deep into that redness peering, long I stood there wondering, fearing,
Doubting, dreaming 1000 points lower dreams no mortal ever dared to dream before
But the sound was unbroken, and the feeling gave a token, “lower”
And the only words there spoken was the whispered words, `The Big Score!'
This I whispered, and an echo murmured back the word, `The Big Score!'
Merely this and nothing more.


Back into the screens turning, all my soul within me burning,
Soon again I heard a tapping somewhat louder than before.
`Surely,' said I, `surely that is something on my S&P yearning;
Let me see then, what there at is, and this mystery explore -
Let my heart be still a moment and this mystery explore; -
'Tis the much lower market and nothing more!'


Open here I piled on the shorts sales, when, with many a flirt and moment great,
Down then marched the candles, reminiscent of the days of autumn 2008
Still it was one hour ‘ere lows would be printed, I posted a post that one could not ignore
But, with all of traders great or small, whose advice should one take at all?-
I sat perched upon my Hermann Miller just inside my office door -
Perched, and sat, and nothing more.


Then this red piledriver beguiling my silent fancy into smiling,
By the grave and stern decorum of the countenance it wore,
Though thy voice said lower and lower and lower’ I said surely a time will say, “no more”
Ghastly grim for the longs and the slow, the plunge gained speed, then some more
Tell me what thy lordly name is if not “the Big Score?!'
Quoth the markets, `Nevermore.'


Much I marvelled my ungainly sense to hear discourse so plainly,
Though its answer little meaning - little relevancy bore;
For we cannot help agreeing that no living human being
Ever yet was blessed such a plunge in history seeing-
The ugly to most, The beauty to some, of an event so revealing
With such name as `The Big Score.'


But the markets, sitting lonely at its lowest depth, spoke only,
That one word, as if its soul in that one word it did outpour.
Nothing lower further then it uttered - not a feather then it fluttered -
Till I scarcely more than muttered ‘ I am done and do deplore’
’Cover the shorts, then go long as before’, as my bounces have flown before.'
Then the markets said, `The Big Score.'


Startled at the stillness broken by reply so aptly spoken,
`Doubtless,' said I, `what it utters is its only stock and store,
Caught from some unhappy market master whom unmerciful disaster
Followed fast and followed faster till his songs one burden bore -
Till the dirges of his hope that melancholy burden bore
Of "The Big Score."


But the markets still beguiling all my accounts into smiling,
straight I wheeled a throng of longs into the bounce to get some more

Then, upon the chair sinking, I betook myself to thinking
When the bounce would fade and falter
What this grim, ungainly, ghastly, giant, and ominous bounce had in store
What it had in store.


This I sat engaged in guessing, but no syllable expressing
To the markets whose green candles now burned into my bosom's core;
This and more I sat divining, with my head at ease reclining
On my chairs leather lining that the lamp-light chuckled o'er,
Pity on the robots plight for a moment I did delight
I shall press sell then, ah, “Another Big Score”!


Then, methought, as the account inswell grew denser, perfumed from an unknown sender
Sent by my Doppelganger whose foot-falls tinkled on the tufted floor.
`Wretch,' I whispered, `thy God hath lent thee - by these angels he has sent thee
Respite – respite and drink the spoils of victory more!
Quaff, oh quaff this strong ale, and forget this Big Score!'
Quoth the markets, `The Big Score.'


`Be that word our sign of parting, I spoke to the candles upstarting -
`Get thee back into the tempest and the volatility I endure!
Leave no uptick in your wake, down, down you must go to zero
Leave the PPT fiddling as did Nero
Leave the shortsellers unbroken! - quit the incessant rise to nevermore!
Quoth the markets, `Nevermore.'


And of the markets, though they dropped a token, still may they fall unbroken
To new depths the coming weeks that are hereto unspoken
My sellers greed will not be quenched until they are truly broken
Until they are truly broken
And my eyes have all the seeming of a demon's that is dreaming,
And the lamp-light o'er me streaming throws my shadow on the floor;
And my soul from out that shadow that lies floating on the floor
Shall be lifted - nevermore!

11 comments:

bluecollartrader said...

The trader deftly quoted Poe,
post filling his account with plunder,
how soon before I wonder,
will he honor Longfellow.

Bob said...

Mind if I ask how you handle days like today? It is proving difficult for me to find any momentum...

All the new highs and lows I am trying are failing, almost better to play them the other way.

Scott said...

DTF- I been stopped out many times as well today . The only good trend I have today is DNDN other than that I'm in scalp mode of FAZ, quick ins and outs.

Bob said...

I guess sometimes scalping rules the day. I need to be able to figure that out a little quicker methinks.

May I ask when you went into scalp mode today? Anything that prompted the switch? That is, if you did make the switch.

Bob said...

Yeah... I am kinda bummed about today. Not sure what I could of done. Of course, looking at the charts end of day, there was opportunity for cleaner entry, exit and reversal, but I am not that good. Any advice?

Feel free to check out my day and critique if you are up to it.

joshua said...

i couldn't see up from down yet again. my girlfriend woke me up early telling me she saw on the news the market was up X mount. i jumped out of bed, got online and realized i actually hadn't missed anything. just a gigantic gap up. i got chopped out of AAPL a few times and caught a couple good trades shorting doji on DNDN and shorting XEC at highs paying close attention to the clock.

i know you have mentioned it before but it is good to know you get stopped out as well. it makes us newbies realize that we will always be getting stopped out, no matter how good we get. it is how we handle the exits and our timing that make the difference.

Bob said...

Hard to play this game... getting lots of stops again today.

Scott said...

DTF- WHen i have many trades stopped out both long and shorts consecutively I get obviously don't have a good grasp of what the markets are doing. So I then change tactics. Either stop trading multiple stocks, reduce trading or go into scalp mode. Trade a liquid stock and pick off .10 gains before they change direction and you get stopped out.
Today (Tues Mar11) is more of the same but a bit better. Some things are running, CAM, LVS, VECO, VXX FAZ
I also am open to the idea that if the powers to be want to push things higher , I'll gladly join them. Follow who is in control.

Bob said...

Thanks for the advice Scott.

Hard to keep the mental edge after getting the direction initially, then stopping out; over and over and over again.

Then getting paranoid and bailing on the stocks that want to move.

What mental edge lol.

Break time.

joshua said...

scott, you found that CAM from your breaking H/L list or it is usually on your radar? that was a beautiful chart. did you catch it at the 12:30 breakout or you saw it before that?

thanks

Scott said...

j- Cam has been on my watchlist since last week, its a good trader up and down