Getting Caught

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Yesterday after the Close SMB celebrated our outstanding month of September with some drinks, cigars and food (lots and lots of food).  Nothing against Queens but I am going to have to talk to CBA about choosing that locale.  It was a little far from Manhattan.  During our celebration I had an interesting discussion with a new trader (“Triple Threat”) who got caught in GS yesterday … Read More

Yesterday was Yesterday

BellaMike Bellafiore's (Bella's) Blogs4 Comments

Yesterday I got hammered. For those unfamiliar with my trading I have been negative one month in 5 years. At one point I attempted to reshort DE at around 42. Our trading platform rejected my orders. I called up Trade Desk to figure out why. And they explained that I had hit my loss limit. Loss limit? I am such … Read More

Questions from a New Trader

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We are at the office going over our trading on this Saturday. Steve, GMan, and I are reviewing some of the work of our new traders. It is a good sign for these new traders who acknowledge that they need some help and are working to get better. I know at the start of my trading career that I should … Read More

Road Map

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As I write I am debating whether to trade RIMM or GS. GS is in play because of the news that the bailout may not happen. RIMM reported last night and showed unusual weakness. SMB traded RIMM in afterhours yesterday and chopped it up. So I have a feel for what to look for this AM from RIMM. But we … Read More

Fading Financials and Gold

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During the range bound market we experienced from 04-06 I learned how to fade stocks.  Today I used that technique to make some good money in MS and JPM.  As a trader you want as many arrows in your quiver as possible.  This is one skill you should develop to become a well rounded trader.  We can’t short the financials … Read More

Capitalize

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One of our new traders asked me whether yesterday was like trading “Back in the Day” (think Internet boom). I quickly said no and explained that spreads were wider and programs were unborn. But I thought about his question some more that night and recognized that yesterday did offer the trading opportunities that we often saw during the late 1990s. … Read More