Making a Trading Decision

Bella discusses how he used three factors, Reading the Tape, Intraday Fundamentals, and Technicals to make a trading decision in RIMM today.

Mental Flexibility Is A Prerequisite…

Yesterday our Best AM Idea was to short AMZN for a potential 4-6 point downside move. AMZN had failed to participate in the tech rally during the last week and seemed to be setting up for some serious downside. I got short at 117 and caught about 1.5 points of downside. The volume wasn’t great so I was somewhat suspicious … Read More

Part of Being a Successful Trader

For those of you who trade as part of a desk I’m sure you have heard expressions like these a thousand times: “I can’t believe I missed that move in XYX. I was wating for that breakout for a week!” “I got stopped out in ABC then it took off!” “I missed getting hit on the bid by a penny … Read More

A Day Trader’s Dream

You couldn’t ask for anything more than AAPL provided today. A selloff that began in the premarket from 208 that ended when a large buyer began accumulating at 203.40. An uptrend that once above 208 offered more than five points of upside. And a downtrend into the close that began with a hard down move through 211 and ended from … Read More

A Missed Entry

All experienced traders understand the importance of a proper entry. Opening a position at the right price is usually the difference between a large chop and a small loss. Just ask Dov Bar about his first three entries in GS today. All small rips because the entries weren’t that great (he might say different). When he got a great entry … Read More

A Bigger Move For AAPL Tomorrow?

AAPL has treated me fairly well the past two days. Yesterday it dropped to my dream buy price of 204. I was able to capture the move back up to 209. This morning I tweeted our best AM Idea was to buy AAPL on a pullback to the 209 level. Many traders on the desk took advantage of this opportunity. … Read More

A Technical Lesson from JToma

News of lower than expected jobless claims resulted in a quick pre-market spike then sell-off in SPY today. However, on the open it rallied and proceeded to break through the 95.50 resistance level (peaking at 96.11) in the early afternoon. As the end of the trading session neared, sentiment reversed and SPY sold off hard into the close, finishing at … Read More