SMB is featured in Trader Monthly this issue. We hope you enjoy the article. There is a really nice full page picture of Steve and me in the hard copy of the magazine (but not online) for those who are interested. If you are trader the magazine is free. Check it out if you get a chance. http://www.traderdaily.com/magazine/article/24582.html
Next Support on the Dow @ 0
I wrote a couple of weeks back about the market putting in a bottom. Oh boy I was only off by about 4000 points in the Dow :). Yes I was very wrong but the beauty of it is that as a trader I have learned that the market has to confirm my bias. The price action wasn’t there so … Read More
Holy guacamole..what a negative reaction
I must say I am extremely disappointing in the Fed for their silly attempt to prop up the stock market with a fed cut of 50bps this morning. I mean seriously, the entire street was expecting that. If they really wanted to create a very positive reaction they should have tried to catch the market by surprise. Here’s how you … Read More
Getting Caught
Yesterday after the Close SMB celebrated our outstanding month of September with some drinks, cigars and food (lots and lots of food). Nothing against Queens but I am going to have to talk to CBA about choosing that locale. It was a little far from Manhattan. During our celebration I had an interesting discussion with a new trader (“Triple Threat”) who got caught in GS yesterday … Read More
Questions from a New Trader
We are at the office going over our trading on this Saturday. Steve, GMan, and I are reviewing some of the work of our new traders. It is a good sign for these new traders who acknowledge that they need some help and are working to get better. I know at the start of my trading career that I should … Read More
Fading Financials and Gold
During the range bound market we experienced from 04-06 I learned how to fade stocks. Today I used that technique to make some good money in MS and JPM. As a trader you want as many arrows in your quiver as possible. This is one skill you should develop to become a well rounded trader. We can’t short the financials … Read More
Comfort Zone
In this market you must get outside of your comfort zone. We preach this at this time to the traders on our prop desk. And anecdotally, Steve and I were at dinner the other night and one of the best day traders from another firm made this same point. You must get into the financials if you do not regularly … Read More
Capitalize
One of our new traders asked me whether yesterday was like trading “Back in the Day” (think Internet boom). I quickly said no and explained that spreads were wider and programs were unborn. But I thought about his question some more that night and recognized that yesterday did offer the trading opportunities that we often saw during the late 1990s. … Read More