I am hanging out at the beautiful jblu terminal at jfk. In one hour I will be taking off for sunny west palm beach. I decided to participate in one last am meeting prior to my vaca. Most of the stuff I highlighted were strong stock consolidating near highs. Two of them, aapl and rimm, dropped key support prices from … Read More
Second Reading the Tape Seminar
SMB would like to thank everyone for their recent interest in our free SMB Training Reading the Tape Seminar. Due to extraordinary demand and limited space we were unable to invite all who expressed interest in our last seminar. But I have some good news! This Saturday 2/20/10 at 11 AM we invite you to attend a free Reading the … Read More
Mental Flexibility Is A Prerequisite…
Yesterday our Best AM Idea was to short AMZN for a potential 4-6 point downside move. AMZN had failed to participate in the tech rally during the last week and seemed to be setting up for some serious downside. I got short at 117 and caught about 1.5 points of downside. The volume wasn’t great so I was somewhat suspicious … Read More
Insights from Brian Shannon: 10 Lessons for Traders
Brian Shannon of www.alphatrends.net and @alphatrends was our special guest speaker yesterday. During a busy week of trading, the NYC Trader Expo, and meetings, SMB was grateful that our good friend found some time to talk with our desk. It was a lecture not to be missed. Thank you, Brian! Here are ten things that I learned from Brian’s … Read More
Its Probably Going Up
I started trading AAPL around 10AM this morning. I noticed it held its small gap from the Open and that each time it was dropping below 202 it would quickly recover. I also noticed that each time it popped above 202.50 that it would fail to hold the bid and drop back down. My thought process was that AAPL had … Read More
Part of Being a Successful Trader
For those of you who trade as part of a desk I’m sure you have heard expressions like these a thousand times: “I can’t believe I missed that move in XYX. I was wating for that breakout for a week!” “I got stopped out in ABC then it took off!” “I missed getting hit on the bid by a penny … Read More
The Power of Information Shared on the Desk
We all have our strengths and weaknesses as traders. If you don’t know what they are for either side then you are in serious trouble friend. I know I am a good tape reader when there is good order flow in the stock. I also know what the strengths are for some of those who sit around me. And when … Read More
Congratulations to GMan for Making Partner!
We would like to congratulate Gman for making partner at SMB Capital.