I traded WYNN today. It was a very good intraday trading stock. I have noticed lately that stocks are being bought differently in this new market. Let’s discuss the trading in WYNN today to explain. The market has sold off from 13,000 to today’s close of 7270. WYNN has sold off from 110 to today’s close of 21.75. Lately … Read More
Excellent Risk/Reward Trades
This post is going to be short but sweet. I will highlight two trades from today. The first is a technical trade that was highlighted on our AM Ideas Sheet. The second is an example of a low risk entry point in a stock that is usually quite difficult to trade intraday. Recently, gold has been very strong. For the … Read More
Keep Track of Key Levels
In my last post, I stress the importance of stock selection. Easy money! Bella mentioned CAT in one of his posts. CAT at the key levels of 30 and 29, is a perfect example of easy money and stock selection on three separate days. Check the chart below. All you needed to do was follow up, know the key levels … Read More
How Do You Do It?
Whenever someone makes a good trade on our desk a common retort from another trader is “How do you do it?” I received two of these today from ALJ, who sits next to me. DE was the culprit. I was the protagonist. Profitable trades were my reward. DE was in play today. They reported. DE opened down. It’s first moves … Read More
The Right Trade For Today (February 17th)
Part of the training the traders on our NYC trading desk receive is instruction on the trading setups that offer the greatest statistical significance for In Play stocks. What is not part of our formal training is the most statistically significant trades for specific kinds of “trading days”. Usually, I give a quick comment at our AM Meeting as to … Read More
Easy Street- CAT
UConn lost to Pitt last night. ARod was to hold another press conference. For a UConn and Yankees fan there were a lot of distractions today. BTW what is Boli? Also we had President Obama signing the stimulus bill. We had the market open down 3%. GS finished down 11.25. You know just another day at the office. 89.80 was … Read More
SMB at Trader Expo in NYC
SMB has been invited to present two free workshops at the International Traders Expo, which will be held at the New York Marriott Marquis Feb 21-24. We invite you to join us at these workshops to learn more about our proprietary trading methods and the skills necessary to become a consistently profitable active trader. I have included a summary of … Read More
The Impact of Computer Programs on Short Term Trading
One of our readers asked a great question recently in response to our blog posts. Our reader, Sandor, pointed out that we have the tendency to write about the computer programs that populate most active stocks in the market. But we haven’t really explained fully what they do or their impact on us short term traders. So I want to … Read More