One of our traders, CBA, made a chop in HON into the Close. And even better CBA got me into the play as well. I like that excellent communication at SMB Capital. CBA is a conscientious trader. He watches tapes of his trading over the weekend (I saw him this very Saturday watching such tapes in our office), keeps a … Read More
She Just Might Say Yes
Steve and I went to our 20th high school reunion last night. A few things: 1) they served chocolate chip cookies for dessert and I ate as many as I could until there were no more (delicious!); 2) I witnessed another great example of she just might say yes. For those on our prop desk in NYC she just might say yes … Read More
Earnings Season Has Begun
Our playoffs have begun- earnings season. This is the time where we as prop traders make most of our money because there is so much price action. Interestingly, there has been tremendous price action in the financials and energy sector recently before these playoffs. Hence a dilimena. What to trade? Do we stick with the energy and finacials stocks that … Read More
Small Tier Size Can Equal Large Profits
I meet with a ton of potential future SMB prop traders. Obviously there is a great deal of interest in those who wish to trade with us. Hey that’s part of my job. Luckily for me I get to screen everyone who walks in our doors. So I enjoy most of the interviews. There have been a few two minute interviews. … Read More
XLE Levels
The past two trading days there has been tremendous price action in XLE, crude, and related equities. I am not an expert on energy but I do know that 80 and now 77 are very important levels for XLE. Below 80 and 77 and you should look for weakness in the energy stocks. Above 80 and 77 and you should look for strength. Below … Read More
Picking Your Spots
We had a long discussion about picking your spots today with our desk. How many of you who are professional day traders feel as if you over-traded today? Today was a day where that was easy to do. But let’s take a look at the last 3 hours of the trading day and particularly with LEH and FNM and discuss … Read More
Always Be Ready
As indicated by previous posts, yesterday was a great day. Sometimes you don’t know when days like that are coming around. Sometimes you can tell. On Thursday night, my roomates asked me to go out drinking, but I declined because I had a feeling something could happen to the market on Friday. I know that when I’m hungover I don’t … Read More
One Good Day
Yesterday was a good day for our desk. It is days like yesterday that make me upset the market is not open seven days a week. Trading can be very frustrating but when you do the right things it is freaking sweet. It is nice to see that the hard work pays off. There are days when trading feels like … Read More