I was long WLT two weeks ago as it was trending higher from 11 to 14. Then they made an announcement after the close about a new financing deal and it gapped lower the next morning causing me to give back a decent chunk of my profits. After trading down to 12 in the morning where it did huge volume … Read More
New Fatherhood and Trading
They say that fatherhood changes everything and I can confirm that it does. At 42 my life changed completely when Luke entered the world. How you ask? My downtime is gone. After work I used to enjoy some downtime with Hardball, PTI and the Yankees. Now as soon as I walk in the door, I get the immediate hand-off from … Read More
The Round Tripper
It is not every day that you are able to catch a trend in both directions in a stock. FB has been a short term trader’s delight for the past five trading days. Media coverage hit a fever pitch today with FB tagging its otherwise meaningless “IPO price” of $38. The fact that it has been moving higher since last … Read More
Where is This Stock Going?
One of the truest things I’ve heard recently was “It’s SOOOO nice not having to pick which way the stock is going!” That came from a one-on-one coaching student of mine that had fallen into the trap of over-analyzing charts and looking for “that one right” indicator. Not having to pick a direction had taken a huge burden off her … Read More
John Locke Weekly Market and Position Update for July 28, 2013
John Locke Be sure to visit our trading blog: www.lockeinyoursuccess.com And check out this video! http://www.smbtraining.com/blog/yesterdays-option-tribemay-and-june-bearish-butterfly-strategies
Perception or Reality?
I have been long VMW since I bought it yesterday at the Open around 79.50. It closed near its high so I held it as a swing position. This morning I bid for more stock about $1 below where it closed yesterday, which had been the prior day’s morning resistance (see chart below). My bid got hit before the market … Read More
A Trade from a PlayBook Reader
An SMB reader, who is not on our desk (yet?), read The PlayBook and was inspired to co-opt a particular concept for her own trading. We encourage all our readers to develop a methodology for your trading. Building a PlayBook of the trades that make the most sense to you is that methodology. Here is her PlayBook trade. Mike Bellafiore … Read More
Methodology For Any Market?
In case you don’t know, I am writing a book called “Unconventional Forex Trader” and I want to hear what you think as I write it. When I conduct webinars that feature examples based on our methodology for the trading community at SMB, I am often asked, “Does this work for stocks too?”. As long as the market you are … Read More