After the market closed yesterday P released their earnings. It was immediately sold aggressively down to 12.50. A controlled bear flag developed with the next major support about 2.5 points lower. I noticed on the StockTwits stream @ldrogen say the conference call was not going well at all. From the back of my mind emerged my negative bias having watched … Read More
March 7th – AM idea
disclosure: short $DSCO, $P
March Trading Madness
I received this email from an SMB trader after the close today: After watching some of the VCU v. Drexel college basketball game last night I wanted to take the VCU head coach’s mantra of “Aggressive, Confident, Loose” to trading. I was more aggressive than usual with my size in the plays I was involved in. However, I was doing … Read More
I Love Being Wrong
As a pro trader my bias in a stock is largely a result of the price action. As I observe the price action I start to ask myself questions like what are the other players in the stock doing? What are the big institutions doing? Are swing traders buying or selling now? Are intraday momo traders trying to play the … Read More
The March Bearish Butterfly Trade Update–A Strong Finish
This is the fouth and final post in a series that we published over the previous weeks, tracking the hypothetical performance of the bearish butterfly trade as it would have been handled according to our guidelines contained in SMB’s Bearish Butterfly Video Series. As of our last writing, the $RUT index closed at 823 and the trade was down 4.5% … Read More
Be your own better trader
Greetings from Capetown. I received this daily review from a solid developing SMB trader from which we can learn………. I am so disgusted with how I traded today… probably the most mad at myself I have been in weeks… I made so many mistakes today… Overtrading… trading too much away from good prices… this is a huge problem in something like DPZ and … Read More
Trade, control your risk, breathe (VVUS)
Sifting thru the daily trading reviews from yesterday it was clear that many traded VVUS. Here in Capetown training former elite athletes and now traders I work to make one point. See your trades as patterns. Trade the set up and then accept the result. Trading is not about being right. It is about controlling your risk. And finding patterns … Read More
Free Options Webinar: SMB’s Options Tribe: Today at 5pm EST: Tom Sosnoff–Perspectives on the Market
Today at 5:00 pm Eastern Standard Time SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by veteran options traders and experts in the world of options trading. This week, … Read More