At the beginning of each AM Meeting I spend some time discussing the bigger picture in the market. Today the focus was on signs that the market may have put in a short term bottom and that I wanted to be mentally prepared for a significant up move. I discussed the downtrend that began in early August up through the … Read More
A Case of Bias Conflictus on SOA
This is a guest post from a young trader, CP Bias conflictus is a condition that can interfere with proper reads on stocks in a tape reading environment. This bias, for whatever reason, holds sway over the the obvious information on the tape. Seems a case of the ‘irresistible pull of irrational behavior’ (check out the book ‘Sway’ by Brafman). … Read More
Forex Correlation
Correlation is used as a formed of assurance when making a trade. It is used as a second and ultimate decision to open a trade depending on your trend direction. At major decision trading levels, you can find more than one pair or index following the direction according to your set up; therefore the need to have correlation is of … Read More
SMB Radar – Snapshot at the Close
Here is a snap-shot of the top stocks on the Today’s Range list on the SMB Radar. This is just one of 10 categories that the algo captures. This snap shot was taken at the close. The Radar is used primarily intraday, however we still like to look over the different lists at the close while ripping through charts.
Bad Habits Within Good Habits
Special Guest Post from my mentee SW After reviewing today’s work, I found myself in a situation where I tend to initiate trades with “bad habits within good habits”, which defeats the purpose of having good habits. What does that mean? In terms of having good habits, I tend to set alerts at great prices and levels which provide … Read More
Free Options Webinar Today at 5pm EDT. SMB’s Options Tribe : $NDX Calender Spreads
Tuesday September 13, 2011 at 5:00 pm Eastern Daylight Time 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 outstanding veteran options traders and experts in the world of … Read More
Trading Crack..…A Lesson in Fading Momentum
Friday an alert goes off, it’s SNDK making a momentum run in the morning. Wow an awesome move that we completely missed off the open. The SPY is down over a buck and SNDK has buyers squeezing it higher. The alert was set for $40 bucks a nice big round whole number. The reason the alert is set is because … Read More
The Conspiracy That Wasn’t
One of my biggest pet peeves as a trader is listening to the all the chatter after a company releases earnings about how “this person knew” or “that person knew” what the numbers were going to before they were ever reported. And these statements are then occasionally justified by looking at the price action before the earnings release. If the … Read More