Back in late January FCX sold off from 90 in a hurry. I started to look for an oversold bounce around 72. That didn’t work so well as it traded down another six points. I remember Gman and Joe P looking for a bounce in X a bunch of times because it had sold off from 65 to 53 and … Read More
Major Market Sectors and Money Flows
Adam “Aceman” Grimes looks at the money flows between major market sectors
NASDAQ OMX/GET YOUR SH*T TOGETHER
I have no idea which is worse the manipulation that I have observed in DNDN the past few years or the way the NASDAQ and SEC handles the manipulation. Last year DNDN was pushed intraday from 24 to 7 and the NASDQ decided to halt. There was no news and no prosecutions. It re-opened after the halt at 25. There … Read More
Proper Preparation
Every morning before the market opens I review the list of my top trading ideas. Recently, they have mainly been long ideas as the market is a raging bull. But I’m always armed with a few shorts in case the market decides to come in. One of the great pluses of being a short term trader is that you can … Read More
How To Get Back In
A very talented experienced trader joined our desk about five months ago. Let’s call him Trader Dan. He decided SMB was a better fit for his personality than his original trading firm. His first trading job entailed shorting very strong stocks intraday and getting long very weak stocks intraday. Somehow he was able to earn a living with that strategy … Read More
SMB Morning Rundown – April 20, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Discover Your New Trading Home: Assent and eTrade
I heard from a friend yesterday that one of the largest prop trading firms was closing up shop. For those of you scrambling to find a new trading home, I have been there. My understanding is that Sungard Financial, a large financial services firm, that owns Assent is no longer interested in being in the prop trading business. … Read More
Trading versus Investing
This was gonna be a blog post on why I came in today with a long bias in RIMM. But there is so much chatter right now on StockTwits with respect to ABK that I thought I would throw in my two cents. Let me start with a few preliminaries before I get into the meat of the post. #1 … Read More