As I view the list of stocks I traded today and their corresponding P/L I definitely see a pattern. GME, FDX, and NKE all green. APOL a big red. I have written many times about the value of trading stocks with fresh news. Stocks that we refer to as “In Play”. During earnings season there are a huge number of … Read More
Them silly small caps move cleanly…say what?
Yup that’s right. Lately I have been a holder of a good chunk of those small caps. It requires a ridiculous amount of patience for them to move but when they do, boy can they actually move in an orderly fashion. Take for example CHTP, I’ve been long for about 6 days already but has been a relatively easy hold. … Read More
If Only They Were All This Easy…
I managed to pick up some MGM at 11.22 yesterday. I was risking about five cents on 1200 shares. I considered my initial upside to be around 11.80. But ultimately I was looking for a breakout above 12 with upside to 13.80-14. When I came in this morning MGM was trading slightly higher than 11.50. My trading plan was to … Read More
A Silly Trade
I highlighted what I thought would be the relevant range for AIG today in our morning meeting (34-36). My reasoning was that AIG needed an inside day prior to making its next large move. I was interested in getting long close to the bottom of the range and short close to the top. The market opened and AIG quickly popped … Read More
A New Arrow For Your Quiver
I have never written a blog post about the trade setup that I’m about to discuss. For the most part we share pretty openly the setups and techniques we use on a daily basis to make money. I’ve been contacted by many developing traders who actually can’t believe the amount of information we provide free of charge via our blog. … Read More
Mental Capital
I have been talking a lot to our traders recently about properly allocating their mental capital. What do I mean by this? Each stock we look at as a trader will offer a certain amount of opportunity each day. If a particular stock is likely to offer far more opportunity than another then all other things being equal the traders … Read More
nice terminal
I am hanging out at the beautiful jblu terminal at jfk. In one hour I will be taking off for sunny west palm beach. I decided to participate in one last am meeting prior to my vaca. Most of the stuff I highlighted were strong stock consolidating near highs. Two of them, aapl and rimm, dropped key support prices from … Read More
Mental Flexibility Is A Prerequisite…
Yesterday our Best AM Idea was to short AMZN for a potential 4-6 point downside move. AMZN had failed to participate in the tech rally during the last week and seemed to be setting up for some serious downside. I got short at 117 and caught about 1.5 points of downside. The volume wasn’t great so I was somewhat suspicious … Read More