I began my professional career as a “day trader” a little over thirteen years ago. Little did I know at the time that I would one day become a strong advocate for banning myself from the market. The Institutional Day Trader First, let me offer a little bit of background information regarding “day trading” before I explain why it, other … Read More
Trading A Secondary Level
JPM priced a secondary a couple of days ago at $35.25. JPM showed nice strength in the morning and traded up from around $34.40 to $35.25. One of the younger traders on the desk called out “JPM at the high of the day”. Rosie, the trainee who sits to my left immediately responded that JPM was approaching its secondary price … Read More
Time to Make Some Bank
It’s earnings season. This is our playoffs. Living in these uncertain times the market is volatile. Adding this fact to earnings season offers us an unusual amount of trading opportunity. This is an excellent trading market. And as an intraday trader there is a large check the market is about to write to you if you just act in your … Read More
The Daily Trading Coach- A Must Read
“The Daily Trading Coach- 101 Lessons for Becoming Your Own Trading Psychologist“, written by Dr. Steenbarger is now being shipped by Amazon. We have our orders in at SMB. I cannot wait for my copy to arrive. A few months ago I received an email from Dr. Steenbarger asking me if I would like to participate in his next … Read More
Nothing but RIMM
There were two good trading opportunities in RIMM today. Below 50 on the Open was an excellent short. Above 47.50 after the Stimulus Package agreement was leaked. Everything else, and I mean everything else, was a shit show. Let’s discuss. First, I am not a huge fan of cussing. But if you had just spent the day trading RIMM like … Read More
A Couple of Interesting Things
I haven’t posted in a while. I have been focusing on my trading. I’ll probably post something later this week. But there were a few really interesting articles I’ve seen recently. Links are provided below: Dow could see 4,000 soon. Media market timing is great. Earnings are cyclical. Twenty five top financial blogs.
A Day on the Street
SMB offers the very best intraday equities training program on the Street. We meet hundreds of college students seeking an invitation from our desk. And many ask what it is like to trade with us. Before anyone is asked to accept an invitation we mandate that a candidate meet with traders on our desk. A candidate may ask any question … Read More
Take Your Normalcy and Shove It
Recently there’s been more talk and trading of certain ultrashort ETF’s on our trading desk. It seems as the downside move in SRS from over 270 was missed and it cracked 100 that the popularity rose as maybe a trade-worthy stock. So, though I am not certain of this, the stock seems to be more heavily traded at these prices, … Read More