When I woke up this morning and saw that the market was gaping down below the $99.5 in the SPY I was pumped! Finally some direction out of these dopey range market we established between 99.5 and 102 in the SPY. I came in with a short mentality as long as we were below that 99.5 level and it was … Read More
AIG Shenanigans
AIG, our favorite momentum stock got back in play yesterday off the breakout at $14. I traded it okay yesterday though I didn’t make that much money off the initial point and change move after being long from 13.8. I actually made most of my money off the two consolidations at 16.4 and 18.65. I am still puzzled by the … Read More
Update of the SMB Reading the Tape Program
Lately we have been receiving many inquiries from our fellow readers wanting to learn more about tape reading. We are NOT ignoring your emails and comments in our blogs! Unfortunately tape reading is a complex and extended topic that cannot be covered in a handful of paragraphs. However, because of the high demand we are currently working on developing a … Read More
HGSI – Reading The Order Flow
On Monday I was flipping through my list of earnings stocks trying to find what to trade on the open. While scanning through my overnight winners/losers I came across this stock. I noticed it was up $6 and change in premarket on some dopey news about a phase III on their drug. A considerable gap up for a stock that … Read More
Tossed Around Frisbee Style
I spent some time this weekend preparing myself psychologically for earnings season. I wanted to make sure to increase my size on stocks that had earnings. I wanted to be ultra sensitive to unusual volume at given prices, levels of huge interest/struggle and be on the lookout for plays to hold. In anticipation of Goldman’s earnings I forced myself to … Read More
AIG over FAZ
We were pretty pumped about FAZ getting back in play today. However, we were also cautious of what the liquidity, computer algorithms and moves may look like on the open. We cautioned our guys from being overly aggressive on the open with the scalps until they figured out if the old programs seemed to be back in the stock at … Read More
FAZ Party Coming Back
During Dec-Jan our desk traded almost exclusively these two triple leverage ETFs. They provided plenty of opportunity as they would move a lot, had plenty of order flow in them and traded somewhat cleanly. We stopped trading them the moment FAZ went below $8 as the volatility died down considerably and felt like we were trading $AIG below $1. Direxion … Read More
Funky Psychology
I traded HES on the short side yesterday and came in with an overnight short expecting a crack through the $54 level. It was looking pretty good in premarket as some small dopey prints went off around $52.57 and $53.01. I was hoping for a pop near the 54.60 dream short level where I wanted to lay into the position. … Read More