FCX Revisited

One of the most important attributes of a trader is the ability to quickly change your bias in a stock.  This mental skill is paramount for an intraday trader.  In today’s market, a stock is likely to reverse its trend multiple times each day.  A stock that is very strong one day will be very weak the next.  It is … Read More

A Market Bottom Versus An Economic Foundation

One morning before work about a 2 weeks ago I switched from CNBC to Fox News to get a weather update. I was a little early, since Mike Woods usually comes on at about the 8th minute of every ten in an hour (6:18, 6:28, 6:38…) and I caught their quick daily business analysis. The lady reporting was ecstatic about … Read More

More Buyers than Sellers

HIG finished up 100 percent on Friday.  At one point HIG was up 120 percent.  At up 50 percent I heard the chirping.  And chirping by very good traders.  Chirp is an old school term defined as a trader definitively predicting the proper price of a stock.  Chirp.  Old school traders recognize that anything can happen at anytime.  Old school … Read More

Things I Liked About Last Week’s Market Action

Volume stayed pretty consistent.  The lowest volume day we experienced was on Monday, which was the sell off to the bottom of the range (82). Market rallied on bad economic news.  After an initial sell off right to support, momentum began to build towards the upside.  And we closed at the top of the range (88). We closed above the … Read More

Some Things I’ve Been Reading This Week

Monthly jobs number not that bad. Bond yields at lows. How low can things go? The trouble with using averages. A few market anomalies. A look at oil right now. Please follow and like us:

Plays Not to Be In

Yesterday I got pretty heated at some guys on our desk for being in what I call “a good play in a sucker stock” in the middle of the day. Every day for the past 2 weeks I have noticed that some guys get in plays where the risk appears to be 1 cent and the reward about 5-10 cents, … Read More

FCX–A Second Day Play

Today in the AM Meeting one of our young traders discussed trading FCX.  It was In Play yesterday because of the news that they were eliminating their dividend.  So our young trader who I will refer to as ALJ (I don’t do nicknames like Bella) talked about important levels that he observed while trading the stock. When we discuss a … Read More

How to Get an Edge in the Market Everyday!

There are only a few things as professional traders we have certain control over and one happens to be a critical element in the quest for consistency and success: preparation. As an athlete my entire life and now someone who is obsessed with becoming a scratch golfer, I have experienced a direct correlation between preparation and success. In my opinion, … Read More