Mike Bellafiore recently visited Indiana University to speak with college students interested in trading.
Fighting for the best prices
I was standing behind a new trader, Battery Park, watching him buy a pullback in a Stock In Play. Battery Park bought 76c and hit out at 63c. He should have hit out at 69c. Then Battery Park reentered at 65c when he could have bought 58c on the bid. We talk about Reading the Tape often in this blog but … Read More
Buying a Pullback (LVS)
LVS gapped down from 45.40ish to near 40 in the premarket and then recovered some. From Bloomberg.com Las Vegas Sands Corp. (LVS), the U.S. casino company expanding in Asia, reported first-quarter sales and profit rose less than analysts’ estimates on lower winnings from table games in Nevada. The shares fell in late trading. Net income climbed to $289.3 million, or 28 … Read More
Opening Drive Play (CTSH)
CTSH gapped down from a close of 83 to 78 in the premarket. Intraday Fundamentals (From Barron”s) Shares of IT outsourcing firm Cognizant Technology Solutions (CTSH) are off $6.11, or 7.4%, at $76.10 after the company this morning despite beating Q1 estimates and forecasting the current quarter and the year above estimates. The drop is likely part of the broad-based weakness in IT … Read More
Increasing your confidence as a trader
So you see that a trader really can make it. He has stopped losing money, put up some good days, works hard, loves the work, and is bound to getting better. At this point I move to work on building his confidence. But how do you do this? The worst thing is to applaud a high P&L day. A good idea … Read More
9/11
Excerpt from One Good Trade
Your Monthly Trading Review (An Example)
I met with three young traders in my office Friday after the Close. I tasked for an email sent to me outlining their goals for the next month after a review of April. I am convinced these three traders will become the next very good traders we have developed. That is of course if they continue to work hard. It is … Read More
A note from our floor manager
This was an email our floor manager sent to our desk this AM: Hello, I will be in the office this Saturday morning from 1015AM-1PM. If anyone wants to spend a couple of hours in the office and prepare for the upcoming week I think this would be a great opportunity. I know the weather is going to be nice … Read More