After yesterday’s hard sell off into the close I was expecting some follow through to the downside. We did have some nice downside momentum this morning through the 108 level of the SPYs but by 11:00AM we were flat for the day and in consolidation mode. The price action was much different than last time we had a major down … Read More
Vegas Baby, Vegas!
The traders expo in Las Vegas is just another great excuse to visit Sin City and it is just around the corner (Nov 18-21st). We would like to continue adding value to your trading while there and we need another excuse to go have some fun. Rather than doing a booth setup advertising our training products we are interested in … Read More
Making Intraday Trading Decisions
I am frequently amazed at how many people think intraday trading is all about Reading the Tape. I am more amazed at meeting too many who believe trading is all about reading some pretty charts. And I am also surprised at how few intraday traders embrace intraday fundamentals. Well that is a lot to be surprised about. When I make … Read More
Most Aggressive
Good traders pick their spots. Some opportunities allow us to be more aggressive than others. When we spot one of these opportunities we pounce, like a baseball player who takes a healthy cut a 3 and 1 fastball. If we fail to pounce then in our journals we must detail this opportunity so the next time we do. During our … Read More
SMB in TheStreet.com – Harley-Davidson Profit Drops; Stock Pops
Steve Spencer, partner at SMB Capital, was cited yesterday in an article on TheStreet.com about the strength in HOG. You can read the full article here. Don’t forget to follow us on Twitter!
One Good Trade: Inside the Highly Competitive World of Proprietary Trading
Thank you all for your suggestions for my book title. There is so much more that goes into writing a book than writing the book. Choosing the best title is one such example. BTW if anyone has not figured out my title yet see the blog title above. The working title had been The Way of the Prop Trader: Tools … Read More
One Good Trade
We evaluate our trading at SMB on the process. If you focus on the process instead of the result in any endeavor in life your chances at success are much greater. Too often people focus on the results. When you confuse a good outcome with good work you are bound to form bad habits that will harm you in the … Read More
Got Ran Over for Being a Stubborn Monkey
Today I made I mistake I rarely make – I let my bias take over my trading. I came in with a small overnight short in MGM and in AIG. Both showed huge relative weakness yesterday and both were working great in premarket with the gap down. The plan was simple, I would add to the positions once below important … Read More