There were two good trading opportunities in RIMM today. Below 50 on the Open was an excellent short. Above 47.50 after the Stimulus Package agreement was leaked. Everything else, and I mean everything else, was a shit show. Let’s discuss. First, I am not a huge fan of cussing. But if you had just spent the day trading RIMM like … Read More
Heineken Light
Today into the Close was light. Heineken Light. GMan stopped trading around 3:10. Alex and I traded GS into the Close. We made some chops and then got squeezed right before the Close. Ripper. I could have avoided this rip. After the Close our desk talked about the light volume. There was no follow through with the stocks we were … Read More
Random Basketball Thoughts Useful for Trading
Coach Beilein, University of Michigan Head Basketball Coach, offered some thoughts for his players useful for traders. U of M was preparing to play the mighty University of Connecticut. UConn was ranked #1 in the entire country, as is their natural right. And U of M was a middle of the pack Big Ten school. U of M has about … Read More
A Core Position (HIG)
Our firm did a great job establishing a core position in HIG yesterday. GMan was grinding it out in HIG during the lunch hours. Numerous times he was long waiting for HIG to break above 11.50 and it just couldn’t. And then HIG would return to 11. Looking at the intraday chart a new trader might have concluded that HIG … Read More
Step it Up
Every so often a trader will find me and say,”I am going to step it up.” I love confident traders. And every so often Steve, GMan, JToma, or I will tell a trader that they need to step it up. And you can sense after the talk they would run through a wall if that is what it took to … Read More
From the Mailbag
I received the email below today. Great question. I thought I would share. I am sure others who read SMB Blog have had the same question. So please read the email below and our response. EMAIL Hi Mike, I’m an equity trader at a hedge fund and read your SMB trading blog routinely and very much enjoy it. I’ve read your … Read More
Fake Breakdown- ROK
I traded ROK today. It was an excellent trading stock. And it’s still acting well. Tomorrow if ROK holds above 23, then I will get long. At 20.60 the bid would not drop. This was the catalyst for an explosive upmove. I was in this move. Chop! And later ROK would not trade below 22.80. And I started a long … Read More
Learn How to Score
I shorted ROH in the Premarket. Chop! I shorted CAT on the Open. Chop! And then CAT got hard. I made some and I lost some. And as I like to kid our desk, then people started bothering me. Roy generally bothers me first about something I need to do for him. Roy runs SMB Training. So if you are interested in … Read More