We sit. We trade. We rip it up. We watch. We lose some more money. And the damn stock is still in the same place it openend. The little sucker has not even moved. Talk about a morning trading like a Piker. There I was banging in and out of KR on the open. Trading too much. Thinking I saw … Read More
SMB Morning Rundown for December 8, 2009
Today, the Market appears set to open lower led by weakness in the financials and commodity names. We expect the Market to trade mainly in a range today between 109 (sup) and 110.50 (res). We are also watching the 111.40 level in GLD. Below 111.40 we could see further downside in Gold today. Our best AM Idea for today, which … Read More
Buying Too Early- NVDA
Old School NVDA was In Play this open after some potentially bad news from competitor INTC and a rumor on a new contract with Acer. NVDA gapped up. 15.75 held the bid on the open and NVDA started to do its thing. 15.87 offers cleared. 16 offers cleared. 16.10 offers cleared. 16.15 offers cleared. 16.25 see yah. 16.30 bye. 16.35 … Read More
SMB Morning Rundown for December 7, 2009
Today, the Market appears set to open virtually unchanged. On the Open, if the Market starts holding above SPY 111.40, we could see a move up to Friday’s highs (112.40). If we hold below 110.80, look for a move down to Friday’s lows (110). We are also looking for further weakness in Gold today. Our best AM Idea for today, … Read More
Weekend Thoughts
As I sit here cleaning my inbox listening to some good old Dizzy Gillespie, Stan Getz and John Coltrane I look around the room and find a few hard working shark tank traders ripping through charts. I know their hard work will pay off this week. I love the commitment and desire to improve every day from these guys, it … Read More
Stages of Successful Trading Part II
The stock I was alluding to in my first post was AMZN. It had been trending up for five days and most of our trades have been on the long side. I mentioned in the morning meeting that 147 would be a 50% move since the gap up on earnings so I would like for signs of a top as … Read More
How Teaching Makes Me a Better Trader
Teaching new traders how to trade has made me a better trader. Below are five things I have learned about trading by teaching. 1) I have cemented the statistically profitable trades that work intraday. Being forced to teach others trading plays has made me recognize exactly which plays work best for me. 2) Video review with other traders increases my screen time … Read More
An Easier Trade
One our traders came over as I was talking to Jay our hyperkinetic intern about the cool new retweet button he installed on our blog, “Bella do you have a minute.” As a partner I have learned what can follow could be just about anything. Previously in the day one of the calmer traders on our desk stormed into my … Read More