SMB is featured in Trader Monthly this issue. We hope you enjoy the article. There is a really nice full page picture of Steve and me in the hard copy of the magazine (but not online) for those who are interested. If you are trader the magazine is free. Check it out if you get a chance. http://www.traderdaily.com/magazine/article/24582.html
Where is the bottom? Make a List
I got a call from a family friend anxious about his 401k a few minutes ago. There was panic on the other end of that call from an upstate suburb. When will the market bottom? How long will it take for me to make back what I lost? What the hell is going on down there? This is not an … Read More
Wow!
It seems that every week the market gets better and better for intraday traders. Yesterday’s selling was as weak as I have seen the market in my trading career. And then we bounced. And that was a huge bounce. There was a ton to be made on the short side till 3 and then a ton to be made catching … Read More
Getting Caught
Yesterday after the Close SMB celebrated our outstanding month of September with some drinks, cigars and food (lots and lots of food). Nothing against Queens but I am going to have to talk to CBA about choosing that locale. It was a little far from Manhattan. During our celebration I had an interesting discussion with a new trader (“Triple Threat”) who got caught in GS yesterday … Read More
Yesterday was Yesterday
Yesterday I got hammered. For those unfamiliar with my trading I have been negative one month in 5 years. At one point I attempted to reshort DE at around 42. Our trading platform rejected my orders. I called up Trade Desk to figure out why. And they explained that I had hit my loss limit. Loss limit? I am such … Read More
Preparing My Mind
I got kicked off the couch an hour ago as Desperate Housewives started. Women. Not a big fan of the show, so I started my Sunday Preparation. I’ve been working on a few things with my trading. My sense is that if I can conquer a few of my weaknesses I can get better. So I went into my bedroom, … Read More
Road Map
As I write I am debating whether to trade RIMM or GS. GS is in play because of the news that the bailout may not happen. RIMM reported last night and showed unusual weakness. SMB traded RIMM in afterhours yesterday and chopped it up. So I have a feel for what to look for this AM from RIMM. But we … Read More
Comfort Zone
In this market you must get outside of your comfort zone. We preach this at this time to the traders on our prop desk. And anecdotally, Steve and I were at dinner the other night and one of the best day traders from another firm made this same point. You must get into the financials if you do not regularly … Read More