Funky Psychology

gmanGilbert Mendez's (Gman's) Blogs13 Comments

I traded HES on the short side yesterday and came in with an overnight short expecting a crack through the $54 level. It was looking pretty good in premarket as some small dopey prints went off around $52.57 and $53.01. I was hoping for a pop near the 54.60 dream short level where I wanted to lay into the position. … Read More

Heavy Lifting Not Required

BellaGeneral CommentsLeave a Comment

Yesterday ACN was in play.  One of our new traders showed his trading tape of ACN.  He was doing the heavy lifting in this stock.  This was not necessary.  Let’s discuss how to find the easiest play in an ACN from yesterday’s action. Below is the news on ACN before the Open: Accenture beats by $0.04, reports revs in-line; guides … Read More

Second Day Play: BA

gmanGilbert Mendez's (Gman's) Blogs7 Comments

I got most of our desk in that play in BA yesterday. I traded it fairly well and managed to keep a significant core for most of the down move. However, watching back my tape and seeing how this is on my list of plays I have to load the boat in I really wussed out; this was a play … Read More

BA- A Good Chance to Trade Lower

BellaGeneral Comments4 Comments

Our desk did a nice job of trading BA today on the short side.  Below 42.75 BA offered an excellent risk/reward opportunity short.   Let’s discuss why this level was so likely to work. Often traders are in the wrong stock.  Or often traders determine levels in stocks that are not significant.  BA was not the wrong stock today.  42.75 … Read More

RIMM Revisited

sspencerGeneral Comments, Steven Spencer (Steve's) Blogs2 Comments

The market has really beat the crap out of RIMM the past week or so. 86 to 68 without a significant intraday bounce. That is the definition of short term oversold. So today in our AM Meeting we discussed the possibility of a bounce. We were focused on a couple of key levels from the prior trading day. We noticed … Read More