Spencer was chirping to watch RIMM. It traded in a range between 56.40 and 56.80 after showing some strength on the open. I bought a pullback to 56.61. Spencer remarked,”You just bought in the middle of the range.” These words were innocuous on their face but he meant: WTF is wrong with you jackass. Buy 41c or 81c or do … Read More
Trade the Trader: Book Review
Quint Tatro’s Trade the Trader is a book that delivers something different and unique to the trading literature. It’s a book of insight and value for the trading community and a work written by a pro’s pro for future pro’s pros. Thank you, Q! So what’s inside? Q shines a light on the differences between anticipatory and reactionary trading, weighing the … Read More
Traders Ask: Flat B4 Macro Events?
Question: Last week I went flat to cash in anticipation of the election, FOMC, and monthly jobs report. What a bad week not to be long. Do you consider broad, macro events like the FOMC, monthly jobs reports, Chicago PMI, consumer sentiment numbers etc. etc. in deciding whether to buy, hold, or sell positions? Do you ignore these macro events and … Read More
Morning Thoughts for November 10, 2010
Good morning traders. Today’s comments are from Adam Grimes at The Macro Report. Two days ago, we wrote: “Be aware that [global equity] markets are somewhat to extremely overbought, and though this makes them vulnerable to potentially sharp corrections, these corrections should be viewed as opportunities to add to longs. “ We believe that yesterday’s rather sharp selloff was probably … Read More
SMB Morning Rundown – November 10, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
I Have Had Better Trading Days
Well I have had better trading days. I traded RIG on a breakout to the longside. Drop out, stopped out, ripper. I gotshort AKAM on the breakdown. Buy the new low program, squeeze, stops triggered, ripper. RIG broke to the upside again, I got real long, reversal, ripper. I got long AKAM after a reversal, very long, reversal, then ripper. … Read More
SMB Morning Rundown – November 9, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.