Young Leo was chirping ANW and its PMKT action. We laid out some prices that were most important for the Open: 9.50, above 10, at the PMKT low. ANW leaked higher to above 10 which caught our attention. Now let me take a step back. We use the Level 2 to help us make trading decisions. We combine our Reading … Read More
SMB Trade of the Day (RIMM)
Spencer was chirping to watch RIMM. It traded in a range between 56.40 and 56.80 after showing some strength on the open. I bought a pullback to 56.61. Spencer remarked,”You just bought in the middle of the range.” These words were innocuous on their face but he meant: WTF is wrong with you jackass. Buy 41c or 81c or do … Read More
Trade the Trader: Book Review
Quint Tatro’s Trade the Trader is a book that delivers something different and unique to the trading literature. It’s a book of insight and value for the trading community and a work written by a pro’s pro for future pro’s pros. Thank you, Q! So what’s inside? Q shines a light on the differences between anticipatory and reactionary trading, weighing the … Read More
Traders Ask: Flat B4 Macro Events?
Question: Last week I went flat to cash in anticipation of the election, FOMC, and monthly jobs report. What a bad week not to be long. Do you consider broad, macro events like the FOMC, monthly jobs reports, Chicago PMI, consumer sentiment numbers etc. etc. in deciding whether to buy, hold, or sell positions? Do you ignore these macro events and … Read More
I Have Had Better Trading Days
Well I have had better trading days. I traded RIG on a breakout to the longside. Drop out, stopped out, ripper. I gotshort AKAM on the breakdown. Buy the new low program, squeeze, stops triggered, ripper. RIG broke to the upside again, I got real long, reversal, ripper. I got long AKAM after a reversal, very long, reversal, then ripper. … Read More
Traders Ask: Pyramiding
Question: Hi, I love your site and it´s been very helpful to me. It helps me remember that in trading you never stop learning, and you should always stay alert, for sometimes one’s worst enemy is oneself. Here’s my question / problem: lately, I have made several good trades, entering around the right time (although I need to work a little … Read More
A ?4 the Trading Community (Part II)
I received the email below from an SMB Blog Reader: I’m sure you are really busy so I don’t necessarily expect a reply or anymore of your time..I do want to say Thanks again however. I have pinpointed my issue..and it seems crazy. I don’t seem to have the balls to saty in winners long enough. Every thing I went long in … Read More
A ?4 the Trading Community
I received the email below from an SMB Blog Reader: I’m sure you are really busy so I don’t necessarily expect a reply or anymore of your time..I do want to say Thanks again however. I have pinpointed my issue..and it seems crazy. I don’t seem to have the balls to saty in winners long enough. Every thing I went long … Read More