Yesterday ACN was in play. One of our new traders showed his trading tape of ACN. He was doing the heavy lifting in this stock. This was not necessary. Let’s discuss how to find the easiest play in an ACN from yesterday’s action. Below is the news on ACN before the Open: Accenture beats by $0.04, reports revs in-line; guides … Read More
Second Day Play: BA
I got most of our desk in that play in BA yesterday. I traded it fairly well and managed to keep a significant core for most of the down move. However, watching back my tape and seeing how this is on my list of plays I have to load the boat in I really wussed out; this was a play … Read More
From the Mailbag: BA
Yesterday we blogged about a short in BA. A reader posted this question in response. Daryn Says: June 24th, 2009 at 5:17 pm I was thrilled to see this post today… at least I knew I was looking for the right trades. What would you say to a trader who watched this trade setup and then somehow managed to walk … Read More
BA- A Good Chance to Trade Lower
Our desk did a nice job of trading BA today on the short side. Below 42.75 BA offered an excellent risk/reward opportunity short. Let’s discuss why this level was so likely to work. Often traders are in the wrong stock. Or often traders determine levels in stocks that are not significant. BA was not the wrong stock today. 42.75 … Read More
RIMM Revisited
The market has really beat the crap out of RIMM the past week or so. 86 to 68 without a significant intraday bounce. That is the definition of short term oversold. So today in our AM Meeting we discussed the possibility of a bounce. We were focused on a couple of key levels from the prior trading day. We noticed … Read More
SMB on StockTwits
Mike Bellafiore and Steven Spencer, partners at SMB Capital, appeared today with StockTwits founder Howard Lindzon on StockTwits TV. In the interview, they discuss the history of SMB Capital, characteristics of a successful prop trader, and the role of technology in training and communicating with traders. Watch the clip here and feel free to leave your comments on this blog. … Read More
US Open Flu?
I have missed the past two trading days because of the flu. I know what some of your are thinking. Hmmm. Bella loves watching golf. And he is always blogging about how much he loves that Phil Mickelson. And Phil made a run at the Open today. The US Open was just in Bethpage. Was this the US Open Flu? … Read More
Paying For Information
Last Friday most experienced guys in our desk traded RIMM on the open. The moves where fairly violent and most of us got ripped up at first. It seemed the stock was crowded with big traders and most levels didn’t hold that cleanly. The risk in most plays ended up being about 2-3 times larger than one would have thought. … Read More
