As a trader, you have to be very resilient. There are times when you go into a slump and you question your ability to make money. There are times when it’s so easy to make money that you wonder how you could ever lose money. You have to be able to weather these ups and downs, and remain sane at … Read More
LEH, Financials, and Oil
LEH was crushed yesterday. The price action screams that the market has lost confidence in LEH. We saw foreshadowing of this as my partner, Steve Spencer, has been highlighting during our AM meetings. And today LEH preannounced. LEH traded above 10 and then went negative. They are on a conference call as I write. What a great trading opportunity. So … Read More
I’m Back
Glad to be back and trading. Keep an eye on HK today. It closed below its secondary price. If it shows weakness on the Open I will play the downside momentum. HK closed below the secondary price but it didn’t show extreme weakness into the Close. So I am looking for confirmation that HK will trade lower. Not a great … Read More
Expectations
So here I’m in the car on my way back to NYC from OBX stuck on some silly traffic. Apparently there was some serious accident near Hampton,VA and that’s causing a 9 mile backup. Rip! We are leaving a day early trying to avoid the tropical storm but seems this drive back is just gonna be messy… OBX was a … Read More
Hurricane Mutter
Gustav. Hanna. Ike. What’s next? Peter? Connor? Maybe Hurricane Gilbert? Definitely maybe a Hurricane Meghan. Whatever the name, let’s take a moment to welcome hurricane season. Such a time that if not before had garnered credibility definitely has after 2005. I mean even our President takes notice now, enough so to notify the FEMA head. For us in this lovely … Read More