I believe Bella said it best yesterday in his post “Don’t start your vacation before your vacation”. AIG was a party all day long. Talk about crazy opportunity on this hot summer day. I want to highlight a few trading levels from today that will be important for tomorrow. First let me just say the following: For the first time … Read More
SMB Blog Highlighted in TraderFeed
Thank you Dr. Brett Steenbarger, the Coach K of trading psychology, for highlighting our blog on TraderFeed as a “unique source of online information”…that “contains a number of practical lessons and nuggets of wisdom for intraday traders”. View the post here.
Don’t Start Your Vacation Before Your Vacation
It is the summer. It is finally hot in NYC. It is so hot that when you just miss your subway it gets really uncomfortable waiting for that next one. Ripper. And most market commentators keep talking about slow summer trading. Chirp. Chirp Chirp. And most market players were predicting a correction a few days ago. Chirp. Chirp. Chirp. And … Read More
Fool Me Once Shame on Me Fool Me Twice…
After yesterday’s selloff we had a small overnight gap to the upside and we were watching the Open to see whether to trade the market from the long or short side. As usual FAS was on the radar of several of our traders. There was some initial selling pressure in the financial sector but fairly quickly it began to show … Read More
Tough Shorts Today
When I woke up this morning and saw that the market was gaping down below the $99.5 in the SPY I was pumped! Finally some direction out of these dopey range market we established between 99.5 and 102 in the SPY. I came in with a short mentality as long as we were below that 99.5 level and it was … Read More
SMB on CNBC’s Fast Money
Jeff Tomasulo, senior trader at SMB Capital, appeared tonight on CNBC’s Fast Money. Jeff discussed how to trade a range, and highlighted the IBM range between $116 and $120. Don’t forget to follow us on twitter.
Need Some More Time Please
OK so we got some weakness with the market today. Are we starting the leg down that most have been predicting since SPY 83 (oops!). Was the news about back to school sales the catalyst? China? Rising foreclosures? The dollar? Unemployment? Government Debt? Certainly the bears have a multitude of fundamental reasons to support their thesis for a downmove. And … Read More
Can You Make it as a Retail Trader?
I received this email from a reader of our blog. I thought we could discuss: Hi, this is Ivan in NYC (Bulgarian immigrant), a regular reader of the blog. I’m a retail trader and a relative newbie. Although I can not formulate particular trading strategy just by reading the blog I enjoy reading it and find it useful. I would … Read More