In October 2009 I began talking to our desk about “Intraday Swing Trading”. This discussion was preceded by about six months of mounting frustration from a large group of traders. Our desk at the time consisted largely of traders we trained in 2007-2008 a time of extreme volatility in the market that favored a very aggressive style of momentum trading. … Read More
A Trade Idea: $CLF
I look at the weekly and monthly charts in CLF and it looks like death! Maybe another 40% of downside. But as a lower time frame trader I see a long set up. I tweeted earlier today that CLF looked to be bottoming as it was being supported at 24.50. That was a good spot to initiate a small position. … Read More
A Simple Tape Trade: $SPLS
I made this very simple tape trade on the Open today. SPLS was gapping lower on earnings. The sector has been decimated recently and my initial instinct was to look to short on the Open. As the market opened I got short but a buyer stepped in at and I covered. On the chart below I have highlighted where the … Read More
Trade Review: PAY by Shark
In this video, Shark reviews a trade he made in PAY on February 22nd. He discusses the big picture, his thought process throughout the trade, and the trade management skills he brought to the trade. This webinar is no longer available *No Relevant Positions
The Market Sells Off. Now What?
I was off the desk today travelling and visiting with family, but checked in several times to see how our traders were doing. It was an exciting day in the market. It is the type of day you typically see only a handful of times each year and as a short term trader you dream about being able to “crush it” … Read More
My Thought Process: $BHP
BHP was gapping lower and trading very actively in the pre-market. This message was to highlight it would be one of the best stocks to trade on the Open and my bias would be informed on which side of 78.50 it started the day. I initiated a short right on the Open against a 78.36 seller. This was the first … Read More
Did The SEC Overreach in Freezing HNZ Account?
I read an interesting piece on the CNBC website by John Carney regarding the SEC freezing the assets of a Goldman trading account that made a very suspicious trade in HNZ options right before the takeover was announced. John raised the idea that the SEC is overreaching by freezing the assets of the account without any evidence beyond the suspicious … Read More
Should Short Term Traders Consider News–Part III
On Friday I was chatting with a non-SMB prop trader that I trained several years ago. He was long DLTR when the WMT “news” broke around 2:00PM. From the chat messages you can see that we were in agreement that there was a short term “fading” opportunity in the retail names that had been quickly hammered based on a leaked … Read More