When we started SMB Capital not even four years ago we set out to do four things: 1) provide the best intraday training on the Street. 2) offer a payout that was fairer than I had received to our traders. 3) create a culture of perpetual learning, where we all learned from each other. 4) share valuable trading information. Many … Read More
HFT and the Effects on the Markets
I am writing an article for SFO magazine on HFT (High Frequency Trading) and its effects on the markets. For me the most glaring change are the plays that no longer work. Specifically paying for a new high in a stock and playing for upside momentum. Too often the result of paying for the new high is a seller sticking … Read More
Opening Drive (HGSI)
Opening Drive? Mike is that some football term describing a team’s first possession? No. The Opening Drive is a play that momentum traders crush, leaving a huge grin on their face. These traders in the first 15 minutes can make enough to ensure an awesome trading day. We saw one today in HGSI on the Open. I walked onto … Read More
When Not to Dump Your Stock
“Stop the tape,” barked the engaging if not brilliant firm partner (wait till you find out who this describes) during a Video Review Session. He continued,”What are your thoughts of NVTL presently?” A few brave (ill-advised?) noobs blurted,”Move on!” And I could swear there was some booing to emphasize their opinion of the NVLT they had just witnessed on the … Read More
Give V a Chance
As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. Been there. Totally understand. I am with you. Today in V if you did not give it a chance to run then this was a spot on example. Today was a day to give V a chance. I traded V in the afterhours … Read More
Not Convinced of a Reversal Yet
We closed below an important technical level 1080 S&P 500. I watch SPY and a close below 107.50 confirmed weakness. I traded from the short side today in SOHU, COF, and FCX. But I am not ready to lay into my shorts just yet. Let’s discuss. Tomorrow I will pick some market stocks and look for opportunities to short … Read More
Meet Mr. Catalyst (COF 42.30)
Not every moment is created equal during the trading day. I fought and grinded and fought some more in COF today. Some moments were more enjoyable than others. But there was one shining moment. One period of time that made all the difference. Meet 42.30. Say hello to the catalyst. It’s 10:45ish. My eyes are starting to twitch from … Read More
Making Intraday Trading Decisions
I am frequently amazed at how many people think intraday trading is all about Reading the Tape. I am more amazed at meeting too many who believe trading is all about reading some pretty charts. And I am also surprised at how few intraday traders embrace intraday fundamentals. Well that is a lot to be surprised about. When I make … Read More