Where Are You Going?

Where are you going? Where do you go? Are you looking for answers to questions under the stars If along the way, you are growing weary You can rest with me until a brighter day, and you’re ok Dave Matthews Band, Where Are You Going? Yesterday I blogged that the market mainly traded between 115.60-160.30 SPY.  Yes it spent some … Read More

Who Stole My Volatility?

Last night on Stocktwits TV I discussed some adjustments traders can make to trade increased volatility.   The VIX had climbed from 18 to 40.  Friday the VIX closed above 41.  These are the markets short term traders crush. Today I walked in with the VIX off over 30 percent.   It has rebounded nicely to close above 30.   … Read More

Traders Ask: Consistency

“If I hadn’t made money some of the time I might have acquired market wisdom quicker.” —  Jesse Livermore I received the following question from reader Angel: Hi Mike, I hope that my email finds you well. Trading has been going very well, and I’m very happy with my results. I love this business! Mike, I would like to suggest … Read More

Stop Paying the Offer

Insanity: doing the same thing over and over again and expecting different results. Albert Einstein The past two days I have witnessed downmoves in NTRI and ITMN caused by undisciplined traders paying the offer.  I tweeted yesterday: If you are paying the offer in $NTRI you will make it go down. The HFTs are waiting for you to pay 4 … Read More

Traders Ask: Too Much Risk?

I received this email over the weekend from Reader David, a developing trader, improving daily: Hey Bella! How bout’ this market! Just so much opportunity, and great setups that I am seeing everyday. Today that trade was ABIO over 5. I got long 2 lots on the break and added above 5.50, sold out near the highs and waited for … Read More

Awesome Links of the Week

Steve Jobs using his good fortune and power to give back. Great quote of the week from Andy Kershner’s, CEO of the excellent prop firm Kershner Trading Group in Austin, Texas, email: “Nothing great was ever achieved without enthusiasm.” Ralph Waldo Emerson The Trenton Thunder, Gov. Chris Christie, working to make New Jersey more competitive. Governor Perry and his philosophy … Read More

It’s the Price Action Stupid!

Borrowing phraseology from the Ragin Cajun and former advisor to President Clinton, James Carville: it’s the price action stupid! Why is the market going up with unemployment so high, consumer debt outrageous, an environment where taxes must go higher, energy 5xs the norm, housing still depressed, access to credit stunted, expensive war expenditures, the Greece failure, a weak dollar, and … Read More