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The key to my day today: stock selection
The key to my day today: stock selection. It was pretty clear this morning that the action was going to be in the financials that had announced secondary stock offerings. JPM, STI, AXP, and MS all sold stock to the general public so they could pay back the TARP money and get the gov out of their hair. In our … Read More
A Must Read: The Daily Trading Coach
The first time I met Dr. Steenbarger was in the smaller conference room of our proprietary trading firm in NYC. We were finalizing our training program and we wanted the best teacher that we knew to review our work. He wasn’t being paid, he was just a trading coach offering a helping hand. As Dr. Steenbarger offered his critique I was … Read More
The Week That Was: May 26 – 29, 2009
The action in this shortened week started on a strong note, and finished on a strong note. After popping above 90 on the SPY in the opening minutes of trading on Tuesday, the bulls seemed to be in control for the most part, never dropping 89, even when it appeared on Thursday that we would be trading down to the … Read More
The Face of a High Short Interest
Before I trade a stock I check its short interest. Why? Because it may affect how the stock trades. Simply, the higher the short interest the more buyers there may be intraday. 26 percent of the float is short JCG. I considered this with my every trade today. Let’s discuss. In our SMB AM Meeting we discussed 25 as resistance … Read More
Find the Best Teacher
Mike wrote a very thoughtful article for SFO Magazine about how to find the best teacher. In the article, Mike discusses the characteristics of a great teacher and why it is important to find someone with these qualities when searching for guidance. You can read the article here. Feel free to leave comments on this blog.
Trying Too Hard
Today was one of my better days in the last week. This was not a coincidence as the stock I was trading was very in play and I was respecting the levels. My recent trading struggles have been all self-inflicted. Let’s discuss. It all started with COF. COF issued their secondary offering and underwriters were trying to support the stock … Read More
AOC Friday 5-1
Sharing information is very important on our desk. This helps newer traders learn more quickly and keeps more experienced traders in the know of all the major moves different stocks are making. There are two types of information that are most important to share. What the stock has been doing and how you are going to play it. In earnings … Read More