My short chop in RMBS got busted. Dov made the biggest chop on our desk and his profits were eliminated. NASDAQ put out this statement. Tough spot for NASDQ. I am the last person to complain about this stuff. The market is like the Wild West and I have come to accept this. Trade long enough and you will as … Read More
Ten Things Most Exciting for 2010
10. The SEC tax declining by about 35c per thousand shares traded. 2009 was a tough year made much tougher because of this tax being raised 400 percent last year. This will mean a possible extra 17k for some of our traders. 9. Secret Project X. SMB has developed a practice tool we are very proud to unveil to our … Read More
Some Ideas on Light Holiday Trading
Ok so the volume is light. GMan barked on the Open, “Volume is down 1/2.” Dovey said about the same just with some streets of Brooklyn color. On a day like today we must observe this different trading. But there were still some opportunities. AJames made a great call in STEC as it made a new important technical high and … Read More
Learning How Not to Lose Money
With my post nasal drip cough I tucked myself into my trading station ready to perform. AST who sits to my left was interested in RHT. I didn’t have a stock(s) I needed to trade, so I traded his. RHT on the Open was a lesson in how not to lose money. 1) RHT first moved higher after its gap … Read More
Trade2Hold
As a trader our quest is to make trading opportunities our own. We are all different. We process information uniquely, have a different tolerance for pain, trade specific set ups better than others, etc. As intraday traders we must have Trades2Hold, longer term intraday trades in our quiver. But it is up to find these best ones for us. Today … Read More
Congratulations Xanthus Capital Management
SMB is very proud to announce that two of our traders have started their own fund: Xanthus Capital Management. While Connor and G will be missed, we are very excited for them. And since they live around the corner from our new office, I am sure we will still see plenty of them. G has never had a bad day … Read More
Afterhours and Premarket Information
It was a long day yesterday for me with all things partner on my calendar. One meeting meshed into another. A new meeting overlapped a planned one, which followed a new new one, followed by another planned one. You get my point. I was ready to start yet another meeting with the peeps who help us run SMB Training and … Read More
Translator Please- RIMM
I am pretty exhausted. 1) I just traded RIMM in the after-hours for 2 hours. 2) I just listened to their CEO (or someone who does most of the talking during their conference call) explain business and trying to understand the guy required all of my mental energy. What is it with tech types where they think they can just … Read More