Getting Caught

Yesterday after the Close SMB celebrated our outstanding month of September with some drinks, cigars and food (lots and lots of food).  Nothing against Queens but I am going to have to talk to CBA about choosing that locale.  It was a little far from Manhattan.  During our celebration I had an interesting discussion with a new trader (“Triple Threat”) who got caught in GS yesterday … Read More

Yesterday was Yesterday

Yesterday I got hammered. For those unfamiliar with my trading I have been negative one month in 5 years. At one point I attempted to reshort DE at around 42. Our trading platform rejected my orders. I called up Trade Desk to figure out why. And they explained that I had hit my loss limit. Loss limit? I am such … Read More

Preparing My Mind

I got kicked off the couch an hour ago as Desperate Housewives started. Women. Not a big fan of the show, so I started my Sunday Preparation. I’ve been working on a few things with my trading. My sense is that if I can conquer a few of my weaknesses I can get better. So I went into my bedroom, … Read More

Earnings Season Pattern Emerges?

Each earnings season I look for discernible intraday patterns to emerge.  As earnings season begins in about two weeks I’m already on the lookout.  Two stocks reported numbers last week that may have given me a clue as to what to expect in the coming weeks. The first stock to report that I traded was Nike.  It gapped up several … Read More

Questions from a New Trader

We are at the office going over our trading on this Saturday. Steve, GMan, and I are reviewing some of the work of our new traders. It is a good sign for these new traders who acknowledge that they need some help and are working to get better. I know at the start of my trading career that I should … Read More

Road Map

As I write I am debating whether to trade RIMM or GS. GS is in play because of the news that the bailout may not happen. RIMM reported last night and showed unusual weakness. SMB traded RIMM in afterhours yesterday and chopped it up. So I have a feel for what to look for this AM from RIMM. But we … Read More

Fading Financials and Gold

During the range bound market we experienced from 04-06 I learned how to fade stocks.  Today I used that technique to make some good money in MS and JPM.  As a trader you want as many arrows in your quiver as possible.  This is one skill you should develop to become a well rounded trader.  We can’t short the financials … Read More

Making the Adjustment

One of the things that I spoke to the desk about this past week was being prepared to make the necessary adjustments in their trading as market conditions change. Last week presented the greatest intraday volatility in US equity markets in about a decade. Our very young desk took incredible advantage of the opportunities that were presented to them. I … Read More