Here is a setup to help you during earnings season: A stock gaps up or down on earnings and drives strongly in one direction during the first few minutes of the Open. This stock should be In Play for the rest of the day. The large supply/demand imbalance that is indicated during those first few minutes should create a bunch of great … Read More
Weekend Warrior
Your results on Monday will be influenced by the work that you do this weekend. Before we broke for the weekend we met with our desk. And we offered some constructive exercises for their weekend. Be a weekend warrior. Let’s discuss. During the holiday weekend you should perform visualization exercises. What are your mental weaknesses as a trader? Work on … Read More
Amen Corner
Amen Corner often offers the most exciting holes of golf at the Masters. Today 18.25 in WFC was our Amen Corner for WFC. There was an easy short below this level when WFC was in an intraday downtrend. There was an easy long when WFC held above this level when WFC was in an intraday uptrend. Let’s discuss. First let … Read More
Time to Make Some Bank
It’s earnings season. This is our playoffs. Living in these uncertain times the market is volatile. Adding this fact to earnings season offers us an unusual amount of trading opportunity. This is an excellent trading market. And as an intraday trader there is a large check the market is about to write to you if you just act in your … Read More
The Right Approach
New traders at SMB have a very structured environment when they start their trading careers. During their first five weeks every minute of each day is planned. When they begin trading live in week six they are assigned a mentor who will review their work on a daily basis. They begin by trading 100 shares at a time. Their ability … Read More
A Great Set Up- RIMM
SMB caught a nice trade in RIMM on the Open. We used an intraday support level from Friday to start a core long in RIMM today. Let’s discuss. RIMM finished up over twenty percent on Friday. RIMM had trouble trading above 60 into the Close but still finished impressively. During the midday 58.50 was a huge level on Friday. This … Read More
Don’t Be Satisfied
SMB has had a nice run the past three weeks. And as traders we should always enjoy the good times. We spoke to our desk after the Close about one thing that merits some mention. They can do even better. For the developing trader it is important to keep pushing yourself. If you have been trading for less than three … Read More
Psychology Drives Price
RIMM reported after the close today. It traded up over 20% from its closing price. You are going to read a lot of articles about how they “blew away” expectations and gave great guidance. The articles will assign these as the reasons for RIMM’s explosive up move after the market closed. Really? I don’t think so. Do you believe that … Read More