Pabst's Blue Ribbon Trades

This is the first day in a while I feel badly despite making huge dollar$.

WTF is wrong w these idiots, Paulson, Bush, Ben ?? Didn't they realize friday that talk sends the markets lower? Apparently not. It makes me cringe to hear paulson today.

The ONLY thing this market should be hearing is "1% cut in the interest rate. Right now, today. We're not waiting a week".

I will be donating half of my +20% YTD profits to charity. And anything else I make in 2008.

ps 2 minutes later, glad they were reading my thoughts!
 
Quote from Cutten:

I've just got long the Nikkei in after hours, average price around 12150. I've also bought some Feb Nikkei calls from 13500-15000 for a trade. I think we bottom today, and I think the Nikkei will rally 20%+ in the next 2 weeks. If I am wrong, and we have a 1987 style scenario, I will take some heat (I am not trading on margin yet, hence the calls) and then liquidate once the market has calmed down.

The reason I am buying now is because the only reason not to buy is fear, pure fear. It is scary to buy, no one else dares to buy, therefore if I am to call myself a trader, now is the time to have guts when others are scared, and step up to the plate. In a way I am almost indifferent to the result - I just know that, as a trader, I must buy now when panic is in the air.
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This could easily be the best call of Jan 2008 (or even the whole of 2008).

Kudos, Cutten!
 
I've had a whippy, scary week. You guy's too, eh? :)

I exited Gold yesterday on new swing highs (I was the low print of the day in the 900 put). It looked like a bad cover until today. It's hard for me to get real beared up on assets when the Fed uses the Weimer Republic's Guide to Economic Stimulus as their treatise.

I was chopped like an MF in ES yesterday. 900 r/t's. Pretty frickin' sick.

My WORST move of the year? Clearly yesterday's purchase of ZN puts and then scratching the trade! (I lost a half tick) EOD: worth 25k. I bit the bullet and sold ZN futs overnight and bought 10 ZBH8 120-117 spreads this morning. Pit trade and I don't know my prices but I did it on a 119.30 bond board.
 
BTW: Just to mention stocks. I'm ST bullish. IMO any rally will be muted but this is probably a fantastic time to be short premium. Cheap money gives stocks a temp floor/crap eco outlook limits the upside. Trading range for the next month.
 
Great call.
Quote from Cutten:

I've just got long the Nikkei in after hours, average price around 12150. I've also bought some Feb Nikkei calls from 13500-15000 for a trade. I think we bottom today, and I think the Nikkei will rally 20%+ in the next 2 weeks. If I am wrong, and we have a 1987 style scenario, I will take some heat (I am not trading on margin yet, hence the calls) and then liquidate once the market has calmed down.

The reason I am buying now is because the only reason not to buy is fear, pure fear. It is scary to buy, no one else dares to buy, therefore if I am to call myself a trader, now is the time to have guts when others are scared, and step up to the plate. In a way I am almost indifferent to the result - I just know that, as a trader, I must buy now when panic is in the air.
More...
 
Quote from JamesVU2000:

Im looking for some strength in the dollar for a little bit just like august and then the dollar decline becomes disorderly.

Bonds are going to be in trouble
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Great call!
 
Quote from Bob Rowshan:

On sunday Jan 13th, 2008 (with the S&P over 1400), I emailed Pabst the following:

"I see the S&P falling to 1300 w blood on the street this month. The pattern thats setting up here looks like 2 failures at 1425, and now lower ahead. The 2 sticks at 1425 usually makes for a good top pattern."

Pabst, you have my blessing to corroborate this. In the subsequent week, I've added +10% and more to my already large account. A sequence of events on ET forced me to take my opinions private. So good luck everyone, and don't say I didn't warn everyone, over and over, that the S&P was putting in a major long term top at the old 2000 highs. I believe I started 3-4 threads in trading warning of this massive S&P double top. I nailed it, and will now humbly take my thoughts elsewhere. Bye bye.
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Great call!
 
Quote from austinp:

<i>"900 r/t's. Pretty frickin' sick."</i>

Pabst... what???
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Hey Austin, wassup bro?

Wanna know the REAL sick part. It was virtually all 5's and 10's. Late in the day I did several 20 lots. Never had more than 30 on and that was for a nano second. My commish was just under what I lost. (around 10 total)
 
<i>"It was virtually all 5's and 10's. Late in the day I did several 20 lots. Never had more than 30 on and that was for a nano second."</i>

Now then... you know that I know that you know a whole lot better than that when it comes to trading.

Needless to say, something other than seriously trading for directional gains was going on with you. End of story. Been there before myself.
 
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