I just spent thirty minutes writing in my trading journal about a trade I did not make. I am pretty sure the young trader recently moved next to me thought this was a little odd. And then I got up and walked around our trading floor (btw very nice digs) and talked to anyone who would talk back about the … Read More
Sell Before the Number
GMan and the desk was VERY long HAL going into the oil number at 10:30 AM. I would tell you how long but it was probably more long than we should have been. We were in a Trade2Hold and HAL was working. But then most on the desk did something very smart for the intraday trader. They lightened up before … Read More
RMBS Trades Busted
My short chop in RMBS got busted. Dov made the biggest chop on our desk and his profits were eliminated. NASDAQ put out this statement. Tough spot for NASDQ. I am the last person to complain about this stuff. The market is like the Wild West and I have come to accept this. Trade long enough and you will as … Read More
Ten Things Most Exciting for 2010
10. The SEC tax declining by about 35c per thousand shares traded. 2009 was a tough year made much tougher because of this tax being raised 400 percent last year. This will mean a possible extra 17k for some of our traders. 9. Secret Project X. SMB has developed a practice tool we are very proud to unveil to our … Read More
Some Ideas on Light Holiday Trading
Ok so the volume is light. GMan barked on the Open, “Volume is down 1/2.” Dovey said about the same just with some streets of Brooklyn color. On a day like today we must observe this different trading. But there were still some opportunities. AJames made a great call in STEC as it made a new important technical high and … Read More
Learning How Not to Lose Money
With my post nasal drip cough I tucked myself into my trading station ready to perform. AST who sits to my left was interested in RHT. I didn’t have a stock(s) I needed to trade, so I traded his. RHT on the Open was a lesson in how not to lose money. 1) RHT first moved higher after its gap … Read More
Trade2Hold
As a trader our quest is to make trading opportunities our own. We are all different. We process information uniquely, have a different tolerance for pain, trade specific set ups better than others, etc. As intraday traders we must have Trades2Hold, longer term intraday trades in our quiver. But it is up to find these best ones for us. Today … Read More
Congratulations Xanthus Capital Management
SMB is very proud to announce that two of our traders have started their own fund: Xanthus Capital Management. While Connor and G will be missed, we are very excited for them. And since they live around the corner from our new office, I am sure we will still see plenty of them. G has never had a bad day … Read More