I have a fairly set schedule each trading day. But on Thursday morning my routine changes as I have a pre-work obligation that changes my schedule. I generally arrive at the office one hour later than usual and do not run the AM Meeting. This change in routine has had some fairly negative consequences on my trading PnL. 90% of … Read More
Be Like Mike !
For those of you who are avid fans of the NBA you have probably heard the stories of how Michael Jordan use to practice as a member of the Bulls. He was totally cutthroat. It was not uncommon for fisticuffs to breakout between him and some of the bigger players on the second unit during scrimmages. He hated to lose … Read More
A Trade Idea For Tomorrow
POT has been a pretty good trading stock recently. After putting a double bottom in place on June 8 it traded up about 10% before establishing a fairly wide trading range between 98 and 101.60. Today it close below 98. I will look for more downside tomorrow using 98 as my initial short price in the morning. I’m looking for … Read More
Sleep as it Relates to Effective Trading
Sleep is one of the great scientific mysteries. Although scientists understand that humans require sleep on a regular basis they do not fully comprehend why this is the case. Most adults require 7-8 hours of sleep each night in order to have optimal cognitive functioning the following day. Just as important as the “how much” is the “when” with respect … Read More
A Turning Point?
There is no doubt with earnings season over there will be very little in the way of news flow for the bulls to hang their hats on for quite some time. With seemingly negative news out of Europe every day and instability in the Middle East and the Korean Peninsula there are opportunities for sellers to hammer the market on … Read More
One Observation From The Trading Day
Being in the right stocks will largely dictate the type of day you will have. If you are in the most In Play names you are going to generate PnL commensurate with your skill level. This is why we have an AM Meeting to discuss the stocks that are most likely to be In Play for the day. Even if … Read More
Patterns Collide!
We have been seeing two distinct patterns in the market recently. 1) On gap down opens we are rallying to positive territory. 2) When there is selling in the final hour the market is closing at its low. Today we were fortunate enough to get both the rally to positive AND the end of the day tankage in the market. … Read More
Intraday Reversals Indicate What?
In the final 3.5 hours of trading Friday we touched 109 three times on the SPY and 110.30 twice. Generally, this type of up down action does not instill much confidence in market participants, and many believe it is a sign of lower prices to come. I’m not in that camp. Someone definitely was dumping a couple of billion dollars … Read More