Calling Gambler's Anonymous

RobotTrader's picture

Hilarious. Unemployed bums now becoming expert "daytraders".  Two days in a row, during my lunch break at Starbucks, I found young, slacker, unemployeds huddled around a table with their laptops daytrading stocks.

Yesterday, it there were two guys who looked like construction workers.  One appeared to be a commercial door installer, who has suddenly turned into an expert economist and daytrader.  He was sitting with an acquaintance, showing him how he was going to profit from his unfortunate job situation by shorting stocks and "make a killing".  I mean, this guy was going on and on for 20 minutes explaining to his friend how he loaded up his last 200 shares of QID on margin, and how Mohammed El-Erian was was explaining about "sugar highs', and how all the banks were really broke, etc. etc.  It was all I could do but to stop from laughing out loud.

Today, I saw two surfer/skateboard slackers, complete with flatbill caps, sunglasses worn backwards, "Affliction" t-shirts, etc.  One guy was clearly the fast talker, teaching his friend how to daytrade using "resistance" and "support" on a 5-minute chart.  Wanna bet what stocks he was talking about?  Yep.  AIG and Vonage.  It was all I could do to keep from bursting out laughing.

Just goes to show how hordes of unemployeds have been suckered into "how to work from home" schemes by trading FX, stocks, options, etc.  Radio stations here in L.A. are blasting ads for trading seminars and webinars 24/7 from various brokerage houses, and some of the online trading academies.

Would not surprise me in the least to see stocks really take off if Joe Six really starts bragging on how he got laid off, but is not making money hand over fist by gunning stocks on a computer.

Pretty much a non-stop meltup most of the day, and now DELL has beat by a penny and is rocketing up after hours.....

No doubt, the "O-Team" and all members of Geithner Bernanke, LLP will be high-fiving and heading to the Opium Den this evening...

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Anonymous's picture


Anonymous's picture

This post got on my nerves too…
I second the “Enjoy the heat” comment. We all used to follow crappy advice and be absolutely clueless – I lost a whole semester’s worth of hay-bailing money doing it. (gotta pay to learn) Anywho, I expect better out of ZH than this.
What kind of person criticizes other people for being clueless and pretentious whilst sipping lattes in an LA Starbucks?
Who makes fun of blue-collar employees trying to invest what little money they have. Many people not only lost their jobs in this downturn, but were simultaneously forced to pull their savings in the worst bear market ever. Some value feeding their kids more than YTD returns. RT, your entire pre-fabricated, valueless California lifestyle is the result of blue-collar workers – those working towards a society where people could aspire to become something more than soulless, money-making machines (or robotraders if you will). Do you find pleasure in milking their investment accounts? When analyzing the sacrifices and investments of those who created the society you choose to indulge yourself in… well… your P/E is way overvalued.

In the time it took to write this blog, you could have helped out those uninformed investors with some serious financial advice (the kind I like to get from ZH – I don’t read b/c of these self-aggrandizing craptorials). Who finds pleasure in lamenting others instead of helping others? While you may be an awesome investor, you obviously have no clue about life. The idea behind investing is to have enough money to where your life doesn’t revolve around it – and in this respect, you are just as lost as those you wrote about. Somebody else put this better, though…
“You're not your job. You're not how much money you have in the bank. You're not the car you drive. You're not the contents of your wallet. You're not your fucking khakis. You're the all-singing, all-dancing crap of the world.”

Anonymous's picture

I suspect that he is just generally fed up with seeing examples of the financial stupidity and ignorance that led us to this point and takes it out on what he perceived to be several members of the "never pay attention until it's too late" majority that allowed this to happen and, now, still don't insist that the greatest transfer (theft) of wealth in the history of mankind BY FAR isn't halted immediately. Instead, they're suckered into listening to exactly the same asshats who got them into the mess in the first place who are now bilking them out of their last few dollars through intentionally misinformed day trading now that the attention diverting bread and circuses have ended. Had you warned these new day traders about the coming storm before it actually occurred, I suspect they'd have just ignored you, grabbed a beer and turned on some Fox TeeVee entertainment. That's the problem, an ignorant majority who remain ignorant of reality through a combination of their own apathy and oligarchy-induced propaganda.

Anonymous's picture

Okay, am I the only one that enjoys a later schadenfreude?

Digital Gunfire's picture

It reminds me of March 2000...

BUT, no problem 'it is different this time...'

Robo forgot the girls.

ghostfaceinvestah's picture

Actually reminds me of the fall of 2001 - typical post-bubble behavior, laid off dot-commers/mortgage brokers buying CSCO / WFC because it was once "worth" 80/40 a share.

bonddude's picture

Just before they went postal they were overheard quoting  Dan Akroyd in Trading Places... " Let's kick some ass! "

bbbilly1326's picture


yeah, sounds like me back at 1.0, 1.01 and 1.02.


Real education is always expensive.......seniors always laugh at the frosh.


Now I'm a senior, doin' a lot better.......

E Thomas St.'s picture

This isn't going to end well.

Comrade de Chaos's picture

K... what LA Starbucks was that?

I x 2 your observations; the get rich by flipping RE scheme machine has moved into penny stocks. 

Anonymous's picture

..."when the shoe shine boy starts giving you stock tips its time to get out of the market"...

Gordon_Gekko's picture

Many shoe-shine boys are shorting the market this time...what do I make of it? Stocks will keep melting higher?

D.O.D.'s picture

At this point I would believe it, and we won't get a correction until equities are being traded in Ameros.

OMFGjustINDEX's picture

RT eats at Starbucks?! He's part of the system too!!!!!! But seriously, how long till this animal bites back? I feel like we are living day to day here, what's it gonna take to push it over..............or is it already and there's nothing to do?

Anonymous's picture

While pretentious and sadly deluded contruction workers and skateboarders are fair game for skewering, I had assumed that most of the commenters on this blog fell into generally the same categories.

gmrpeabody's picture

RECO that post.



Anonymous's picture

Jesus, no wonder the market keeps going up. Assholes like this are shorting it. I guess GS needs their money

Anonymous's picture

GS and Robo are stealing their lunch money.

deadhead's picture

great anecdotal stories robo...thanks again for your daily insights.

RobotTrader's picture

Yesterday I was at the Starbucks on Sepulveda Blvd. in El Segundo.

Today, I was in Starbucks at Hollywood Riviera in Redondo Beach.

Comrade de Chaos's picture

let us the hunt - take Robo pix and sell them on craigslist, begin!!!

(just don't show up @ olympic & national :)  )


However I must add this euphoria is mostly among 20 - 30's something. Older generation is not buying it. 

percolator's picture

Not so fast:

The 50-year-old from Naples, Fla., had limited investment knowledge but attended several seminars before starting to trade in May. So far, York said, she's up an average of 40% a month and is trading full time.,0,2266089.story

Sorry for the double post didn't see your comment otherwise I would have posted here.

Anonymous's picture

Excellent marketing! Bring all the fools to the table with their last dollars remaining before we pull the plug and they are all burned alive.

snorkeler's picture

Excellent marketing plan! Brilliantly executed!

Bring every single sucker to the table with their very last dollars in their pockets before we pull the plug and they all burn to death.

Should be a merry christmas.

Anonymous's picture

You're a "floater" then?

D.O.D.'s picture

What's wrong Robo, you don't go to 7th and Montana in Santa Monica? You don't like sipin' Joe with the stars?

Anonymous's picture

it's really funny. I am one of the blue collar joke persons of whom you speak. Sorry but it's hard to tell the diff between you "experts" and we "six-packers". I read various blogs each day to help with my trades and there's an awful lot of moaners and groaners on them who don't seem to know what the f#%k they are doing, tho' they talk a great game with all their charts and wave theories. Whatever, you're all just a bunch of snobs anyway...but I am helped by reading, studying and compiling all the info you put out everyday. So thanks, snobs.

OMFGjustINDEX's picture

you obviously have no idea what you are doing. So just go Index.


yo ho ho and a bottle of rum!

E Thomas St.'s picture

Do you know what "talking your book" means?

OMFGjustINDEX's picture essentially means you are spreading information that would help the positions you have in the market.


/indexindexindexindex lol

E Thomas St.'s picture

Exactly, but I don't think the guy you replied to gets that.

bonddude's picture

WOW-Someone touched a nerve.

Anonymous's picture

I do know of what you speak...Stocktwits threatened to ban such perpetrator/manipulators just this afternoon. Me thinks you underestimate us, my friend! Trader/hairdressers rule!

waterdog's picture

Nice picture, is that where the beautiful people sit and talk about how vix lix dix?

Anonymous's picture

U mean they sit around and talk about stock strategies, and the ecconomy... What a bunch of LOSERS!

Anonymous's picture

Well, it's funny for me to read this article. I am a blue collar worker and I just came back a couple hours ago from a Forex trading class. The instructor suggested this site for articles and look what was the first thing that I found!!!!

Well I understand what you say and would appreciate any suggestion about a better idea to be a sucessful investor than to educate myself.

Thanks in advance

Invisible Hand's picture

I made a few bucks trading FAZ (bought yesterday, sold on this morning's spike before it got wacked--almost 3% including AH from open or ~5% from high).  I almost held it thinking that the news about maybe 1000 banks failing, FDIC broke, FED audit is end of world, etc. would have to drive the banks lower.  Fortunately, I read ZH and know that any trade based on reality is doomed.  Thanks TD. 

RobotTrader's picture

Huge run on these today:


Gilgamesh's picture

Can't believe I'm going to say this about any vehicle manufacturing company right now, but OSK is arguably justified.  They are in like Flint.

Anonymous's picture

Like "Flynn", from Joyce.

Gilgamesh's picture

Flint, in relation to auto-making.  My puns are questionable at best.

D.O.D.'s picture

shorted OSK at the high, justified has nothing to do with this market...

Anonymous's picture

Its not the Opium den - I call it the OBium den.

VLee's picture

Excuse me, it's Owebium.

bonddude's picture

Or ah, Obiwan den.

Help us.You're our only hope.

Anonymous's picture

Tradery snobbery

I'd love to know how you have to look and what brand of t-shirts you need to wear to be considered a serious trader and not be laughed at by mr. robot trader

E Thomas St.'s picture

Serious Traders don't rent bandwidth from Starbucks.

Gick's picture

What type of t-shirts do you wear robot trader?


I want to look like a real hotshot so I can laugh at people too

Anonymous's picture

These "day traders" won't last long/ won't lose much before they slink off. When you're really broke, one down day is enough to wise you up.

Definitely a sign of the times though. God forbid anyone slog out an existence by going to work every day for 50 years and sticking some of the earnings into responsible investments.

No, we need to figure out the angle that will give us that whole lifetime of earnings RIGHT NOW, with as little work as possible!

"If my vapid skateboarding dope dealer is doing it, I can do it too!"

AN0NYM0US's picture

"Definitely a sign of the times though. God forbid anyone slog out an existence by going to work every day for 50 years and sticking some of the earnings into responsible investments."

you know if you gave that concept a catchy name ... maybe something like "buy and hold" it might catch  on