UConn lost to Pitt last night. ARod was to hold another press conference. For a UConn and Yankees fan there were a lot of distractions today. BTW what is Boli? Also we had President Obama signing the stimulus bill. We had the market open down 3%. GS finished down 11.25. You know just another day at the office. 89.80 was … Read More
Heineken Light
Today into the Close was light. Heineken Light. GMan stopped trading around 3:10. Alex and I traded GS into the Close. We made some chops and then got squeezed right before the Close. Ripper. I could have avoided this rip. After the Close our desk talked about the light volume. There was no follow through with the stocks we were … Read More
Fake Breakdown- ROK
I traded ROK today. It was an excellent trading stock. And it’s still acting well. Tomorrow if ROK holds above 23, then I will get long. At 20.60 the bid would not drop. This was the catalyst for an explosive upmove. I was in this move. Chop! And later ROK would not trade below 22.80. And I started a long … Read More
Trading AAPL After Hours after Jobs Announces Leave
Steve Jobs announced his leave of absence from AAPL after the Close. AAPL was halted. At 5 PM it resumed trading. Here was the news from briefing.com: Apple CEO Jobs announces medical leave of absence until the end of June (85.33 -2.38) -Update- Apple CEO Steve Jobs today sent the following email to all Apple employees: “Team, I am sure … Read More
Flipping
One of our traders was getting shot for “A Day in the Life” video today. Another of our traders is up on Friday for a similar shoot. We will share these videos with you upon completion. But what was most interesting today was a discussion that was captured on this video. This discussion was about flipping. One of the advantages … Read More
ROH Bounce
ROH tanked on the Open yesterday. Fading it on the long side was like trying to catch a falling knife. And many of you have heard the Street expression “don’t catch a falling knife.” These tank jobs in ROH happen everyday. As we discussed during our SMB AM Meeting, it is a mistake for a new trader to try and … Read More
What if I am Wrong?
I made some chops trading RIMM afterhours yesterday. More importantly I learned important levels. A ton of volume was done at 41 and 41.40 was a huge seller. Today my game plan was to aggressively buy if RIMM traded above 41.40. I was wrong. I had expected RIMM to fly after it held above 41.40. It didn’t. There was a … Read More
End of the Month Review
I love stats. One of my favorite books is MoneyBall. Presently I am hooked on the wOBA that Rob Neyer has been blogging about. When I read rumors about the Yanks getting Sabathia or Burnett or Lowe I immediately check their important stats, such as their WHIP and strikeouts per innings. For me the idea of being able to quantify … Read More