My best stock in 2007 was RIMM. It had an incredible run trading up over 400% as AAPL made the world believe that smartphones were going to become a mainstream consumer product. The massive move in RIMM offered a multitude of short term trading setups. Several years later after the smartphone market exploded it was clear that there were two … Read More
I am a Simpleton
AM Meeting Synopsis: FDX is gapping lower on reduced guidance. Looks like it is going to open around 82.50, which is longer term support. Look to trade short below that level but if supports there look to trade long above 103. The Open: FDX opens just below 102.50 so initiate a short. Maintain the position until the downtrend is broken. … Read More
Recording: John Locke: A Piece of the Rock
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. In this presentation, John Locke provided a detailed example … Read More
AM Meeting March 14th – $SRPT, $VMW, $LNKD, $BBRY, $NFLX, $GMCR, $MLNX
*No Relevant Positions
Two Good Trades
There wasn’t much In Play this morning. EXPR was gapping lower in reaction to an earnings release. When a stock has a large gap from an earnings release the first thing we do is look for clues during the pre-market session for whether it will be a gap fill candidate or a continuation play. EXPR was trading actively in the … Read More
The Wicks Win ($WAG)
One thing I always try and remember when running a firm is this: trading is not very easy. The margin of error can be slight between great trade and stopped out. The trade below is a spot on example. I love how this trader keeps a PlayBook and then has taken the time to ferret out A+ trades from his … Read More
Forex: The Professional Trader is the Prepared Trader
When you turn on your computer each morning and you look at your favorite forex pairs, can you tell me exactly what levels you are most interested in taking action on? Can you give me a good argument as to why you would be looking for longs or shorts at these particular prices? If you can’t answer these two questions … Read More