Last night I went out long DNDN. At 8:30 AM I was down a cool $80 on my position. Not exactly something for which to put down my breakfast Cliff protein bar. DNDN had cleared an important resistance level on Thursday at 27.50. It closed still in an intraday uptrend and 80c from its intraday high at 28.75. Stocks like … Read More
Generating Trading Ideas for Tomorrow
Into the Close I recognized that one of the stocks I was long was stronger than all the others. That was DNDN, which will now be the first stock I consider to trade as I prepare before the Open tomorrow. Let’s discuss. Into the Close I was long LVS, DRYS, AIG, and DNDN. SPY broke from its tight range and started an upmove … Read More
Your Job is Not to Make Money
What do all of these things have in common? We took down our leaderboard at our firm a few months ago. Today one of our traders left early because he got stopped out. The other day I was interviewing a candidate for our desk who defined a good trading day by how much he made or lost. What is your … Read More
A Last Week in August to Remember – AIG
I wrote last week that the last week in August is historically uneventful. I went on StockTwits TV and said the same thing. I wrote in my blog “Vacation….Chop!” that you ought to take a break. I suggested that the last week in August or the first week in September are generally excellent weeks to vacation. I have some new … Read More
Vacation….Chop!
Today after the Close we talked about vacation. When to take it. What to get out of it. And why it is important. Let’s discuss. You cannot trade everyday. You will burn out. Your trading will suffer. You will make less for the year if you do not take time to recharge as opposed to trading everyday. Danny … Read More
Play of the Day- FAS
When I traded back in the day there were no leveraged ETF’s. I wish there were. They offer the intraday trader opportunity. Whether ETF’s offer too much risk to the market is not for me to decide. What I know is that there is money to be made as an intraday trader mastering them. Let me offer one simple example … Read More
Don’t Start Your Vacation Before Your Vacation
It is the summer. It is finally hot in NYC. It is so hot that when you just miss your subway it gets really uncomfortable waiting for that next one. Ripper. And most market commentators keep talking about slow summer trading. Chirp. Chirp Chirp. And most market players were predicting a correction a few days ago. Chirp. Chirp. Chirp. And … Read More
Need Some More Time Please
OK so we got some weakness with the market today. Are we starting the leg down that most have been predicting since SPY 83 (oops!). Was the news about back to school sales the catalyst? China? Rising foreclosures? The dollar? Unemployment? Government Debt? Certainly the bears have a multitude of fundamental reasons to support their thesis for a downmove. And … Read More