Comfort Zone

In this market you must get outside of your comfort zone. We preach this at this time to the traders on our prop desk. And anecdotally, Steve and I were at dinner the other night and one of the best day traders from another firm made this same point. You must get into the financials if you do not regularly … Read More

Capitalize

One of our new traders asked me whether yesterday was like trading “Back in the Day” (think Internet boom). I quickly said no and explained that spreads were wider and programs were unborn. But I thought about his question some more that night and recognized that yesterday did offer the trading opportunities that we often saw during the late 1990s. … Read More

Movie Premiere Market Talk

Last night a few of us from our desk went to a movie short premiere, “$ Game,” written by Maureen Holohan and directed by Tom Cavanaugh. Great time and excellent short. At the after party many who I did not know but who either found out what I did or recognized me from “Wall Street Warriors” approached me to talk … Read More

Day Trading Dream

Today is the kind of day that those who trade intraday dream about.  Most of our traders were at the office by 7:30 this morning preparing for what ended up being one of our best days this year.  As the United States financial system continues its downward spiral the level of intraday volatility is moving towards a crescendo.  How this … Read More

Super Bowl of Trading

Tomorrow is our Super Bowl. LEH may file for bankputcy. MER may be bought. Oil is below $100. AIG is seeking capital. We not gonna get all those funny commercials, chips, pizza and cheap beer. But we are gonna get some serious price action tomorrow. Can we just go to the office and start trading now? OK so what do … Read More

How to Make that Jump to the Next Level

This past week was a great trading week for me personally. And another example of how I have made a jump to the next level as a trader. I put up bigger than normal numbers on a considerably larger than normal share count. But putting my results aside and the volatility seen in the financial stocks, I traded a lot … Read More

MER and Oil

MER’s price action is very bearish. Yesterday there was a huge intraday battle in MER at 20. The sellers were in control into the Close as MER traded weakly to 18.65. MER found temporary support there. I started a short position at 19.74 into the close. I covered some at 19 and was holding the rest. And then a rumor … Read More

May You Live in Interesting Times

My partner has been highlighting the weakness in LEH for weeks. And a few days ago this blog suggested to watch for weakness in LEH when it was 17. As I write LEH is 4.24 bid. LEH did have trouble trading below 4 premarket. It is time to start wondering if LEH will receive a bid. Make sure your are … Read More