I focused on RIMM on the Open as it was In Play after reporting yesterday. I traded it on the short side once it dropped the 128 support level. It was fairly tame and became weaker as the day progressed. There seems to be support around 123.40. Traded NKE in the afternoon. Didn’t catch the initial short below 60 but … Read More
Run Fast Jump High (NKE)
Trading NKE this am. Below 62 will trade with a short bias if see selling. Down a ton on very light volume- bounce? The NKE specialist has a tendency to treat some orders unfairly. But when NKE is in play it is a very good trading stock. I have attached the chart of NKE below for some help. Good luck! … Read More
re: RIMM Followup
As I mentioned this morning I was looking to short RIMM on the open at resistance. I mentioned 140.50 as potential resistance. As it turned out 141 was resistance with many large offers. I shorted below 141 and covered on the pullback to 139. I didn’t catch the move down to 137.50. RIMM released earnings in the after hours. The … Read More
DF sell the gap up
As we discussed this morning in the morning meeting (it is lunch time right now) we looked into selling that gap in DF if we spotted a seller. One of our traders spotted a big ARCA seller at 20.50 who stepped lower to 20.35 and traded a couple hundred thousand shares on the offer. The same seller stepped lower to … Read More
BA for today
Should be a light day of trading before the Fed announcment at 2:15 today. Will be looking at BA today because of the news below: Boeing: Oil surge may cost jet makers orders – WSJ (74.79 ) : WSJ reports as rising oil prices cause even the strongest airlines to struggle, Airbus and Boeing face the possibility that as many as … Read More
re: RIMM Weakness
RIMM showing weakness in the pre market. probably due to the WSJ article talking about people overestimating growth and underestimating risk in the consumer market. I have covered the majority of my overnight short position as it has failed to hold an offer below 139. Will look for resistance at 140.50 level after the market opens for a safe entry … Read More
One annoying computer program
Lately I have spotted a new computer program in my stocks and I think its important to briefly talk about these silly games. In our training program we talk about catalysts in a stock before making its move. There are plenty of times when you can see the buying/selling in a stock but it needs something to make the stock … Read More
Pattern Recognition and air travel
My partner and I were invited to Chicago yesterday for an interview to discuss our firm, SMB Capital. All went well, grabbed some deep dish pizza at Gino’s East (delicious!), and headed for O’Hare. The 3pm to NYC was delayed for 2 hours, the 4 for a little over 2 hours and the 5 for about 2 1/2. My plane was posting for … Read More