I read Bella’s blog on SRS, and he brings up a great point on how important it is to push yourself every day to become better. “Constant never-ending improvement.” I think Tony Robbins once said that. But the reality is the SRS, SKF, and USOs of the world are basically different opportunities for us as professional traders to make more … Read More
Take Your Normalcy and Shove It
Recently there’s been more talk and trading of certain ultrashort ETF’s on our trading desk. It seems as the downside move in SRS from over 270 was missed and it cracked 100 that the popularity rose as maybe a trade-worthy stock. So, though I am not certain of this, the stock seems to be more heavily traded at these prices, … Read More
Light Volume
The volume was light on the Open. GS didn’t have many real orders. During our SMB AM Meeting we thought GS might find some real orders. FCX didn’t. ABX was pretty strong. AET was very strong. I traded AET on the Open. But even with AET the volume was very light for a stock in play. So what do … Read More
Know yourself!
Over the years I have found it extremely important to keep all kinds of information about my trading in journals. In these journals I have found out more about myself and the way I trade than any other trading tool out there. I use the journals to keep track of the obvious, my daily P&L and the volume I did … Read More
Catching Yourself Before Disaster Hits
I picked up a copy of the new Malcolm Gladwell book Outliers this weekend and read something that caught my attention. Gladwell points out that a typical airline accident involves seven consecutive errors. The errors by themselves rarely have an impact on the overall safety of a flight, yet the combination of them consecutively usually lead to disaster. I started … Read More
A Market Bottom Versus An Economic Foundation
One morning before work about a 2 weeks ago I switched from CNBC to Fox News to get a weather update. I was a little early, since Mike Woods usually comes on at about the 8th minute of every ten in an hour (6:18, 6:28, 6:38…) and I caught their quick daily business analysis. The lady reporting was ecstatic about … Read More
Things I Liked About Last Week’s Market Action
Volume stayed pretty consistent. The lowest volume day we experienced was on Monday, which was the sell off to the bottom of the range (82). Market rallied on bad economic news. After an initial sell off right to support, momentum began to build towards the upside. And we closed at the top of the range (88). We closed above the … Read More
Some Things I’ve Been Reading This Week
Monthly jobs number not that bad. Bond yields at lows. How low can things go? A few market anomalies.