So today during our AM meeting Steve highlighted MS as his stock of the day. Steve said, “I am going to look for a pullback right on the Open and then look for MS to trade in an uptrend for the day.” Now that is what I call a great call. On Friday Steve mentioned MS as a stock to watch. … Read More
Live to See Another Day
There’s one thing that Bella always says: The trading day doesn’t end until 4PM. That’s especially true with markets like the one we’re currently in.On Friday, I was having a very rough day. What was even more frustrating was that I was underperforming. I could not believe that the type of day I had envisioned months ago was the day … Read More
Fear Establishes Bottoms
One thing that I realized a long time ago was that emotions/psychology are what determine prices of stocks in the short term. The average stock on the NYSE fluctuates 50% in any given year. Does anyone really believe that the fundamentals of each company gyrate to the extent necessary to justify that level of volatility? (maybe in this environment but … Read More
SMB in Trader Monthly
SMB is featured in Trader Monthly this issue. We hope you enjoy the article. There is a really nice full page picture of Steve and me in the hard copy of the magazine (but not online) for those who are interested. If you are trader the magazine is free. Check it out if you get a chance. http://www.traderdaily.com/magazine/article/24582.html
Next Support on the Dow @ 0
I wrote a couple of weeks back about the market putting in a bottom. Oh boy I was only off by about 4000 points in the Dow :). Yes I was very wrong but the beauty of it is that as a trader I have learned that the market has to confirm my bias. The price action wasn’t there so … Read More
Where is the bottom? Make a List
I got a call from a family friend anxious about his 401k a few minutes ago. There was panic on the other end of that call from an upstate suburb. When will the market bottom? How long will it take for me to make back what I lost? What the hell is going on down there? This is not an … Read More
Holy guacamole..what a negative reaction
I must say I am extremely disappointing in the Fed for their silly attempt to prop up the stock market with a fed cut of 50bps this morning. I mean seriously, the entire street was expecting that. If they really wanted to create a very positive reaction they should have tried to catch the market by surprise. Here’s how you … Read More
Wow!
It seems that every week the market gets better and better for intraday traders. Yesterday’s selling was as weak as I have seen the market in my trading career. And then we bounced. And that was a huge bounce. There was a ton to be made on the short side till 3 and then a ton to be made catching … Read More
