AAPL has treated me fairly well the past two days. Yesterday it dropped to my dream buy price of 204. I was able to capture the move back up to 209. This morning I tweeted our best AM Idea was to buy AAPL on a pullback to the 209 level. Many traders on the desk took advantage of this opportunity. … Read More
Market Leaders Bounce Off Key Levels
This morning we saw some pretty heavy selling pressure for the third consecutive day. We then saw some of the leaders bounce from very important prices.
“Don’t Be Evil” For Real?
I have to admit that I’ve always been a big admirer of GOOG as a company over the years. I loved it when they told the establishment on Wall Street to f***** off when they did their IPO in a “dutch auction” style. I admire the fact that they push for open systems to the greatest extent possible. And from … Read More
There Are So Many Ways To Be Silly
Steve discusses the right trades and the wrong trades in SEED during the upmove from 12.70 to 14.50
Understanding The Environment
The financial stocks are still capable of having sharp down moves intraday circa 2008 and early 2009. We saw this when Meredith Whitney lowered GS estimates intraday on Tuesday and we saw it again today when federal regulators reminded banks to protect against a future rise in interest rates. But on both occasions the “news” was shaken off and the … Read More
Still An Important Skill…
GOOG announced today that the Nexus 1, their new phone, would be carried on the Verizon network. RIMM started to trade lower. It was already on our radar as a short candidate below 66.50 and 66.20 based on its recent price action. We knew the next major support was not until 65 so it was game on for a short … Read More
Trading RIMM Tomorrow
I had a tough Open today covering two shorts within pennies of their highs and then watching them trade several points lower. The rest of the day was fairly productive as I observed some of the most In Play stocks and called out significant levels to other traders on the desk. But my mood changed from neutral to very positive … Read More
Using Levels
SMB shares a ton of important price levels with its traders. Occasionally, we tweet these levels to the at large trading community as well. For a skilled intraday trader there is a lot of money to be made trading off of these levels. But without trading skills and an understanding of various trading setups these levels don’t offer much value. … Read More