Tough Shorts Today

gmanGeneral Comments9 Comments

When I woke up this morning and saw that the market was gaping down below the $99.5 in the SPY I was pumped! Finally some direction out of these dopey range market we established between 99.5 and 102 in the SPY. I came in with a short mentality as long as we were below that 99.5 level and it was … Read More

AIG over FAZ

gmanGilbert Mendez's (Gman's) BlogsLeave a Comment

We were pretty pumped about FAZ getting back in play today. However, we were also cautious of what the liquidity, computer algorithms and moves may look like on the open. We cautioned our guys from being overly aggressive on the open with the scalps until they figured out if the old programs seemed to be back in the stock at … Read More

FAZ Party Coming Back

gmanGilbert Mendez's (Gman's) Blogs10 Comments

During Dec-Jan our desk traded almost exclusively these two triple leverage ETFs. They provided plenty of opportunity as they would move a lot, had plenty of order flow in them and traded somewhat cleanly. We stopped trading them the moment FAZ went below $8 as the volatility died down considerably and felt like we were trading $AIG below $1. Direxion … Read More

Learning From Other Traders

gmanGilbert Mendez's (Gman's) Blogs2 Comments

New traders at SMB can learn from themselves, their mentor and their peers. Here at SMB we have many guys that are obsessed with trading. Every chance we get, we talk about different plays, how we traded them, how much size we thought was reasonable, and how we could have traded that play differently. I want to highlight the importance … Read More