RIMM is about 70% from its high. It seems real cheap based on next year earnings projection of $4.50 per share. But the price action indicates that noone believes those estimates. There are probably a lot of people betting that RIMM will have trouble matching this years $3.50 per share. So perhaps RIMM will have one more down leg. RIMM … Read More
Patiently Waiting in the Wrong Stock
Yesterday was a hard day for me. I performed well, though I traded lightly and found it difficult to trade the market in the middle of the day. I am normally the type of trader that can sit there and trade profitably all day long. I make my adjustments so I can trade profitably during the middle of the day … Read More
Comparing Tomorrow with Today
We haven’t seen too many days where offers were paid like today in the past year. I mean that was just amazing. The buying in GS, the buying in AAPL. The explosiveness of the moves. How hard it was to get hit on the bid. Where did this buying come from? I would say today was strong but that would … Read More
Risk: SO Not Just A Game
During a good film session today with a senior trader I got to get a clear look at how quickly I lose control of my risk and put my trading day in complete jeopardy. The film was from Thursday of last week when I was daytrading SRS (the real-estate ultrashort ETF) actively. To give you an idea of how the … Read More
Sunday Thoughts
At the office doing a few things with Steve, GMan, and Charlie. We are gonna watch some film at 3:15 with a few traders. We are putting together some new materials for Advanced Training and reworking one our websites. I am done with most of my part of that work. So now I starting to think about next week. And … Read More
Routine
As you may have been able to tell by now we don’t spend time on this blog pretending that we do not make mistakes. We do. But is your attitude that of Phil Mickelson who views every mistake as a learning experience? Or will you blame your failures on anyone or anything else other than you? I got out of … Read More
The Best Stocks Need to get Killed First…
Market leaders are the last stocks to bottom. They have the strongest fundamentals and don’t breakdown until the pressure to get out of the market becomes so great that even they will be sold. One such market leader is AAPL. We talked about AAPL in today’s AM Meeting. I remarked that we should pay close attention to AAPL’s price action … Read More
Do This Every Day to Become a Consistent Trader!
I get this question almost daily: Jeff, what are you going to trade today? Or this one, especially in this market: Jeff, do you think we are close to the bottom? These are both good questions and there is nothing wrong in asking these questions, but what I learned pretty early in my trading career, and it has come in … Read More
