Morning Meeting

sspencerSteven Spencer (Steve's) Blogs, Trading TheoryLeave a Comment

One of the greatest advantages each trader on our desk has is being able to listen to the exchange of ideas from our AM Meeting.  At the beginning of each meeting Dov gives the Big Picture, which is an overview of world markets and both macro and micro events that may create intraday trading opportunities for our desk. After Dov … Read More

The Absurdity of MER

sspencerSteven Spencer (Steve's) Blogs, Trading Theory2 Comments

I really wanted to write this post after the market closed today.  But I have been literally working on other projects for our firm for the past seven hours (11:50pm EDT now).  So I’m going to share my thoughts on what I believe is a very good risk/reward trade in Merrill Lynch. MER issued a secondary about two weeks ago … Read More

Be in the Stock When It’s Moving

BellaGeneral Comments, Mike Bellafiore's (Bella's) Blogs, Trading TheoryLeave a Comment

As we have mentioned previously in my blog some have emailed me with concerns that program trading will rule trading soon.  The market will never displace the disciplined independent trader.  What is certain is that programs mandate that you adjust your trading and more selectively choose your entry points.  Let’s take a look at ELN from yesterday to illustrate this … Read More

The Right Stocks

sspencerSteven Spencer (Steve's) Blogs, Trading TheoryLeave a Comment

A trader is only as good as the stocks that they are trading. Recently, a bunch of guys on our desk have made money trading CHK and HK. They were making nice chops every day. Sometimes its hard to let go of stock that you have been consistently making money in. But it is essential for this job to recognize … Read More

Missed Opportunity

sspencerSteven Spencer (Steve's) Blogs, Trading TheoryLeave a Comment

One of the things I take great pride in is understanding the potential moves that may occur on any given day. This applies equally to stocks that I may be trading as well as the market in general. Today, I was unprepared for the large bounce that occurred in the market during the final 90 minutes of trading. Currently, US … Read More