wicked oil

I am spending my fourth of july weekend in Boston visiting my college roommate. While at a BBQ last night I got a chance to speak with a few wicked smart MIT kids. Not surprinsingly these kids have an IQ comparable to the price of oil but when it comes to the stock market most make the same mistakes as … Read More

Statistics, chocolate chip cookies and trading

If homemade chocolate chip cookies are made and I eat one, there is a 100 percent chance that I will eat many, many more.  If I fade a strong stock, there is a 70 percent chance that this trade will result in a loss.  Last nite we were visiting friends and our host made some chocolate chip cookies.  I ate one … Read More

July 3rd Recap

Today’s holiday shortened trading day was another great day for SMB’s young traders. As I mentioned yesterday I was looking at JRCC and RIMM for potential bounces and was focused on the jobs number for a trading cue for the day.  The jobs number was benign and so the market initially reacted positively.  I sold my JRCC and RIMM positions … Read More

Sit In Your Seat

I am a process guy. It’s the stuff that goes into getting results that is much more important to me and as a result our prop trading desk at SMB Capital. I love to see our guys do the right things. And the past two days have been examples of our traders doing the little things necessary to trade successfully. … Read More

Market In Trouble–July 2nd

After yesterday’s strong bounce the market failed to have a second consecutive up day.   There was steady selling in multiple sectors all afternoon.  Tech and Energy in particular got hit hard into the close.  Energy stocks were selling off despite oil  setting new time highs.  If the tech selloff continues tomorrow we will breach the 2008 lows and may start … Read More

CHK- An important intraday level (71.35)

CHK was a great trading stock today.  Proudly I can announce that are young traders killed CHK today.  And CHK was particularly profitable trading the stock off of an important intraday level today at 71.35.  CHK was up a ton and then started to show weakness.  After the oil number was announced CHK failed at the 72 level, traded lower … Read More

Second Day (MYGN)

One of the plays that we teach our traders is called a Second Day Play.  Today we had such a play with MYGN.  MYGN had some bad news on one of their drugs that they were testing and the stock traded considerably lower yesterday.  But into the close MYGN showed strength.  It finished strong.  However MYGN had trouble trading above 45.75: So … Read More

NKE second day play

Looking at NKE this morning. Yesterday it was a bit out of control on the open but the stock got easier after it broke the 60 level. I’m gonna be using that as my inflection point; above 60 will keep a long bias, below it will try to keep a short bias. Looking for a sell off to the 58 … Read More