I made an unforced error on the Open today. I did something I never do. I broke a trading rule that I never break. And I pride myself on my discipline. I’m not concerned that I will ever repeat this error. I doubt that I will. I’m the most disciplined trader that I know. I just don’t make many mistakes. … Read More

Taking A Look Under The Hood Part II

I want to discuss in more detail how I believe I can press my advantage prior to the start of earnings season.  As previously mentioned I spend a great deal of time looking at longer term charts.  I am able to get a sense of which stocks are poised to make sizable intraday moves.  I then set alerts at important … Read More

Market Commentary from JToma

It seems that the market has finally begun to take a direction after trading in a range for about two weeks. Monday started a sharp sell off in SPY, opening at 94 and closing below the key 93 support level. Today we saw SPY briefly trade above 93 but quickly sell off to close the day at 91.66, breaking all … Read More

Finally the Turn?

It seems that we are finally starting to turn. The overly talked pullback may be on its way. It started with the SPYs gaping down Monday with a failed attempt at filling the gap. Yesterday we closed below the trading range we had established for a while. Today we got confirmation by cleanly taking out yesterdays low and holding for … Read More

Letting the Play Unfold

We started a down trend in the last couple days and as long as SPY is below 93.60, I will try and stay short. It is not hard to make money as an intra-day trader during these type of market days. The key I am finding with my trading lately is that I have to let the play unfold. Lately, … Read More

Trading Both Sides- RMBS

RMBS was In Play on Friday and we made some chops long on a slow summer day to its resistance, 17.80.  17.80 was an important technical level.  RMBS collapsed from this level previously (see chart below).  17.80 was an inflection point for us on Friday and on Monday.  And we made money on both sides using our trading skills.  Let’s … Read More

The Week That Was: June 8 – 15, 2009

Action in the SPY this week was pretty tight.  The lowest we traded was 93, and never really traded above 96, failing at the same spot we failed last Friday in the pre-market.  The range has really tightened over the last 2 weeks.  We were not able to close above 95 on the SPY until Friday, when we climbed above … Read More

Taking A Look Under The Hood

In the world of day trading we like to say that earnings season is our “playoffs”.  It only occurs four times per year and is a time where trading opportunities abound.  The most difficult thing during earnings season for traders is remaining focused on their best ideas and not attempting to bite off more than they can chew.  If a … Read More