Last week Under Armour reported earnings and there was a solid short setup. These were my thoughts on UA UA has had a huge run the past year and if the quarterly numbers disappoint many of the momentum investors involved will sell first and ask questions later. This means there could be selling pressure on the stock until it pulls … Read More
Are You Focused On Your Best Setups?
Earlier this week Mike Bellafiore asked me to participate in a 30 Days/30 Habits webinar. The idea behind the webinar was to share the best practices that lead to habit formation for the top performers from our trading desk. In true Bella fashion he invited me to co-present with him a few hours before the webinar was scheduled to begin! … Read More
How We Find The Best Setups
It was an incredible week in the market. Monday started with a strong down trend and by Friday the SPY closed at its highest level since ten days earlier. Outside of the indexes themselves there were some incredible risk/reward opportunities in individual stocks. In this short video I explain some of the techniques we used to identify and trade the … Read More
Trading That Crazy SRPT
The most In Play stock this morning was SRPT. It is one of the crazier liquid biotech names from a price action standpoint to ever to grace our markets. Because of the strength of the news catalyst and the size of the reaction this morning it was at the top of our AM Game Plan. I decided for fun to poll … Read More
Drilling Down On The S&P 500
This weekend I have seen a few versions of this daily chart of the SPY drawn with two lines to offer what appears to be “symmetrical triangle”. The idea is that buyers/sellers are becoming more aggressive and when one group wins the SPY will close above/below one of the two lines leading to an explosive move. I’m not a huge … Read More
My Thought Process– $SPY
In three trading days we moved from a range bound low volatility market to an environment of fear and chatter of market collapses. It is more difficult to predict price patterns when extreme volatility and fear are in play versus when the market is more subdued and market participants actions can be more easily anticipated. As traders we move into a “move to move” mentality … Read More
How To View The Market Right Now
normally i don’t blog during trading day but unusual circumstances…we failed right at the level i tweeted pre-market around 193. great spot to short and many traders did. sellers now in control and that only changes if we break the downtrend moving back above 190. a hold above 190.50 would give us a chance to close in the 191.50-193 level … Read More
Friday Game Plan Review–SPY, CRM, FB, AAPL
Friday was an interesting day for me. We had a large down move Thursday followed by a large drop in overnight futures. When we see this sort of price action we immediately shift our AM Gameplan to a discussion of market related ETFs as with more volatility they offer the least risk with good upside. We also want to look … Read More