Tough trading friday....Couldn't get much going....Stupid insurers....

P&L: $350
Shares Traded: 31000


There weren't many moves to be had this past Friday. The planned move that I missed completely were the insurers short off the open and throughout the day.

Friday morning it was announced that six major insurance companies would be receiving bailouts from the TARP money. These six companies include Prudential and Hartford Financial.

The same stocks rose very sharply on Thursday's session, obviously because somebody knew bailouts would be coming and options activity in those stocks suggested the same thing. It's amazing how no matter what you will never be 'in the know'. And you're always one step behind the smart money. AND how some of these big funds are never accused of insider trading when you know DAMN well they know wtf is going to happen before it does!!!



So as you can see on Thursday, smart money started buying early morning. Friday morning the insurer bailout was announced and all those companies gapped up a good 10-30%!! Smart money took their profits right away ESPECIALLY in PRU. So the trade Friday was to get on board and short the insurance stocks but I was too busy getting chopped up in the Agriculture stocks that I missed the trade.

Overall a useless day. I am, however, impressed with my recent ability to not OVERtrade when the opportunities just aren't there. Hopefully this is the start of a new trend to not loose excessive amounts of money when it's just not worth trading that particular day.

-Sanglucci

Solid moves in the market today... Focused on the AG sector....

P&L: $1100
Shares Traded: 33000

Decent day today folks I focused primarily on POT and MOS as I realized they were breaking out earlier this week. I had a feeling POT was going to get to sub $110 pretty quickly after smoked that $100 level out.



As you can see from the chart above Tuesday was the break out day in this guy then he kind of consolidated yesterday and today was a chance for them to take it up again. Aaaaand they certainly did he had a high of about 108.40 maybe. I got him long good throughout the day and that was how I made the majority of my money.

Stay tuned for a swing trading update later folks...

-Sanglucci

How Sanglucci is 'getting' his groove back....

P&L: $1743.85
Shares Traded: 16000







So instead of boring you guys with a post on how I made decent money money today I'm going to talk about important realizations for traders. By the way these can be transferred to basically anything you do that is outside your usual comfort zone.

Rule #1

Never Assume Success - Just because you achieved a certain level of success with whatever it is that you do, does not mean that success will continue as you envision it or even as you have seen it in the past. Do not assume that business will get better or even that things will turn around. Stay agile and adapt to changing market environments because the fact of the matter is the game of life or whateva it is you working hard at is a hustle everyday.

Rule #2

Patience and discipline will always prevail over a short-term mindset - I'm too short term that is my issue... To me, what I want I should have had yesterday and nothing is ever good enough or acceptable. I am always risking what I have today for 'forced' progression. What I mean by forced is that I'm constantly pushing the bar everyday every second instead of gradually easing into more risk. When you gradually increase risk there is just more thought involved more calculation which means you are calm and, at that time, have the discipline to see yourself through that risk.


Stay tuned for more rules to apply to your trading or to other aspects in your life


-Sanglucci

Actual proof on why I've been a complete skeptic on the effectiveness of this stimulus money... General Motors....

Headlines today concerning GM all bear ill-fated predictions. Stockholders and employees of GM are now waking up DAILY to see headlines like "GM shares WORTHless" or "GM bankruptcy inevitable". Today the stock hit all time lows to an embarrassing $1.10 per share.

This leads to one of my primary reasons of dissatisfaction with the billions of dollars doled out to save our economy. I'm not arguing that the stimulus was not necessary. What I am arguing is their selection on how to disperse and manage that stimulus. GM was loosing money since 2005 prior to the beginning of this economic crisis. In that time to now they have lost a whopping total of $88 billion.


My point is that the gov't knew they were attempting to save a ship that had already buckled under the pressure. So why do it??

In total, GM has received $15.4 billion from the government and that money has already been used for operations to keep the company afloat. There were bankruptcy concerns prior to receiving the money and there is now an even higher probability that it will in fact occur.

All the execs of the company have completely liquidated their holdings of the automaker. As for the current shareholders?? You guys are fucked... There are two likely options expressed in detail in this article but I will try to summarize here.

First is just an outright declaration of bankruptcy because of it's inability to meet it's debt requirements. Second is an attempt to raise capital through a stock offering that would dilute your shares to a price that is totally insignificant and ridiculous. They would attempt to pay back the gov't, the bondholders and the United Auto Workers union and in doing so wipe out shareholder value.

Either way this company was clearly not worth the governments time or effort. I do understand, however, that GM employs tens of thousands of workers. A bankruptcy would cause a huge influx of people out of work but they have been closing plants since 2006!!

Once again we come back to the stimulus... What else could we have done with $15 billion. I mean to companies as large as GM or some of these major banks it's nothing but for public works projects or research grants I'm sure it could have meant real changes, major improvements or even new technology. That money could have been funneled through projects that WORK or through means that could have developed into further, more prolonged success in the future.

So the question remains, did the gov't have a choice? I mean was GM going bankrupt just not acceptable? It must have been... because no group of even the biggest dickheads in the world would throw away their money like that.

Whoops..... there actually is a group of people.....

TRADERS LIKE MYSELF!!! LMAO!!!

Anyways I'm starting to rant... Let me know what y'all think...


-Sanglucci

I ain't gonna waste no time and I'ma get right in it...

Currently on the daytrading account I'm only using 200 share lots so no real money being made there and still waiting on getting sized up so I can start smoking this market AGAIN. UNNNfortunately, today happens to be the best day to be a daytrader and I can't wait for the RO numbers from dinosaurtrader. Trust me when I tell you guys those numbers are going to be SIIIICK.

Swing Trades:

UNG - This is the natural gas ETF. As I said in earlier posts this thing has been getting absolutely crushed while oil has been coming back strong. It had to pop at some point so it bottomed out at around $13. My cost was basically $14 and I had 20K shares of prick. I sold today at an average cost of $15.50 early in the morning. I still have 5K shares left of it and it is currently rippppping it just hit $16 so I will most likely be dumping the rest very soon.

FAZ - This right here is the reverse ETF for the financials. So once again for those who don't know if the financials go up this thing goes down I mean that's the layman's explanation it's a little bit more complicated than that but we'll leave it there. I'm deep in this thing folks so this could be another make or break trade. I have about 80K shares with an average cost of $5.50. I was in yesterday and then bought an assload of shares at the low today. STAY TUNED for this one folks could be a HUGE trade either way lol!


Once again for further details on the swing trade check out the covestor account...



-Sanglucci

SWINEWOW!!!

Jimmy Kimmel did this knock off Shamwow commercial for the swine flu. Ironic that they chose to change the name though from the swineflu to the 2009 H1N1 swine flu. Why they did that I have no clue. Anyway you gotta check this video out the shit is hilarious...



-Sanglucci

Starting back from ground zero... Shit is brutal...

P&L: $115.25
Shares Traded: 3600


Just trading a mere 200 share lots. Seems a far cry from 20000's, LOL. It IS a far cry but gotta start back with small hits. So today the plan was to just make some money and stop trading basically. I have to string together a couple positive days to start getting my size back. For those of you who don't understand what I mean when I say 'size'. It basically means the ability to take on more risk therefore make or loose more money. If you guys saw my daily numbers for last month then you'll see what I'm talking about.

At this current point it's not about making money for me it's just about having positive days to get my size back and then it's back to swinging G's a day! Hopefully sooner than later!

I made my money today trading POT from the long side... That stock is going to break $100 you can bet on that one...

I also put on a decent size position in UNG for a swing so far I have about 9K shares I believe. UNG is the ETF that trades natural gas. Natural gas has been getting absolutely crushed this year and it looks like the trend is changing. Although everytime some buyers come into this thing they get smoked out everytime and natural gas just keeps going lower and lower. If you want more details on this check out my covestor account with the link below...



-Sanglucci

Forbes List #701... They're calling him the new Pablo Escobar....

LOL...So on this blog we don't put down those who progress in this world through illegal means.

This cat above named Joaquin Guzman made the Forbes List as the head of the infamous Sinaloa drug cartel. Homeboi's specialty is supposedly using tunnels to smuggle that yyyaaayyy-yooo into the U.S. The DEA and the Mexican federal gov't have been trying to catch this dood for SEVERAL years. Everytime they get closer to him they end up just seizing property or cash and the chase continues...

To be a druglord... I'm thinking out loud here this guy must budget massive amounts of dollars lost to federal seizures of cocaine and cash. Come to think of it not only dollars but manpower as well. Think of how many goons this guy has or people willing to do anything to be on the payroll including taking murder raps or jailtime for the ultimate protection and survival of Mr. Guzman.

That's some fucking power right there lol... I'm not ashamed of it either I sold a little bit back in my day but obviously was never THAT enterprising about it. On top of that I spent money like it ain't even funny.

Anways let's see how long this guy stays on the Forbes List or if he gets pinched before he can move up haha...

-Sanglucci

Trading Updates...

JTX Swing update...




As you can see folks, Thursday was the day to get the fuck outta this thing. You all know I had about 120K shares of this thing with a cost of about $5 bones. I was down a good amount in this thing for the past week it couldn't hold above 5 bucks and THURSDAY the thing rips in the morning to almost 5.50. I took only 10 thousand off up there thinking ok this is the breakout day and I should be already in this thing...

HAHA BOI was I wrong... Today it immediately printed lower and continued to drop all the way back down to aroune 4.25 aaaaaand well I had enough of it. I took my loss guys... It hurts like a mother but I deserve it. I should not have gotten huge in this thing and should have taken it for breakeven as I had several chances to do so. One thing that held me back though was how thin this stock was and I was so afraid of sending out large orders. Those of you who don't understand what I'm saying basically when you're in a 'thin' stock (meaning it trades very low volume), it's easy to push it around pricewise.

In any case total loss was about $-70K...Ouch right???

Ironically today I popped up on the big board in covestor. HOWEVER, after the loss I took today my success is shortlived. I will be back though peeps trust that!

-Sanglucci

Sizing down SUUUCKKSS....

P&L: $-597.52
Shares Traded: 23200

Back to trading 1000 share lots folks. It feels.... wellll if feels like shit really. I have to re-embrace the concepts of trading smaller size which basically means going BACK to scalping in and out of stocks very quickly. This was something I thought I was past buuuuuut apparently not.

I'm extremely pissed off to tell y'all the truth...

-Sanglucci