Last Friday most experienced guys in our desk traded RIMM on the open. The moves where fairly violent and most of us got ripped up at first. It seemed the stock was crowded with big traders and most levels didn’t hold that cleanly. The risk in most plays ended up being about 2-3 times larger than one would have thought. … Read More
The Week That Was: June 15 – 21, 2009
The SPY was finally a little weaker this week, as the range moved down slightly, starting the week at 94, moving down to 91, and closing at 92. This coming week, the levels I will look at are 93 as resistance, and 90 as support. Some of this week’s links: An interesting look at the possible moves the Fed will … Read More
It’s Called Trading
Each day into the Close our intern Krysten asks me to share a trading idea for our Twitter feed. Today I told her that I was short AAPL below 138 but would cover above 138.15. AAPL had failed at the 138 level earlier in the day and had a significant down move. I was risking 15 cents to make potentially … Read More
From the Mailbag – Part 3
I received this question the other day and thought we could discuss it. Ok so here goes… Rusmin Says: Friday, June 19th, 2009 at 3:24 am I want to ask you a question. But before I ask you that, I want to tell you something. I had a similar day where i took a huge rip. I f**ked up fifteen … Read More
RIMM For Tomorrow
I traded RIMM in the aftermarket today. It was a bit of a roller coaster ride. Initially our “chirp guy” (person who reads breaking news over a speaker) said they beat their earnings estimate by around 20%. I have a rule in the after hours when trading a momentum stock. If they beat estimates by more than 10% I buy. … Read More
I Am a Technical Trader
This afternoon on CNBC’s Fast Money Halftime Report, Dennis Gartman (producer of the respected The Gartman Letter and former futures analyst for A.G. & Becker) and I seemed to dissent about how to play GS. We didn’t. Let’s discuss. About a week ago, I advocated shorting GS at 150 with a stop at 151.17 and a target of 140. For … Read More
Slowing Down Your Game
So I wrote a post yesterday about a memorable rip I took for my lack of focus. I appreciate the posts by our readers which demonstrated that some good came out of my rip, a lesson shared. I was thinking of titling this post, “And then the Sun Came Up”, but as I tweeted today it has rained everyday … Read More
Unnecessary
I made an unforced error on the Open today. I did something I never do. I broke a trading rule that I never break. And I pride myself on my discipline. I’m not concerned that I will ever repeat this error. I doubt that I will. I’m the most disciplined trader that I know. I just don’t make many mistakes. … Read More
