One of our new traders got ripped by a Senior Trader on our desk in the email below. I thought all of this was awesome. I loved that the new trader sought some extra help. And the advice given was spot on. As a mentor it is our job to tell the new trader the truth. Further, there are a … Read More
Opportunity
Just got out of our AM meeting. Good trading opportunities on the Open for LDK, BIG, ELN above 14.50, CRM, HK above 34.50, DRI support at 27.80. Choose carefully but there will be opportunities. Good luck.
LDK
LDK traded well today. I have witnessed many intraday reversals and fake breakouts and breakdowns trading LDK in the past. My sense is that many big time swing traders take big positions in LDK and when the stock starts to reverse they hit the bids well thru to exit. It causes choppiness. I didn’t see the choppiness today. LDK was … Read More
Last Week of August 08
The last week in August is the worst trading week of the year. Our desk is instructed to take off during this month. Many were away this past week. And many will be away this week. I will be trading. My vacation will start next week. Steve gets this week off and I get the next. But there are some things … Read More
Modeling Career
I would like to take this opportunity to officially announce my retirement from modeling. Well let me modify that statement. I will not model another day unless I get paid 10k. Ok now that makes more sense. So Steve and I were asked by Trader Monthly to do a shoot for an article they are writing about SMB Capital. The … Read More
Tier Size
The last few days have been a bit slow after the Open. We must adjust. One adjustment I make on such trading days is to lower my tier size after the Open. I traded HPQ on the Open (chart below). It held 45 and made a nice upmove to 45.25 where it was met with resistance. After a struggle at … Read More
Best Pizza
So one of our new traders, who grew up near my home town, and I were discussing the best pizza. For some reason there is this false notion that NYC has the best pizza. They don’t. The best pizza, Colosseo, is from my home town. This is not some parochial or biased call. I have traveled quite a bit. And … Read More
Vacation
It is important to take vacations during the trading year. Trading for one day is like working three days at another job. I remember in law school taking finals. We would learn and study for half the year and then take one exam. For example, I took Constitutional Law with the Jeremy Paul, now the Dean of UConn Law School. … Read More