I don’t trade the SPY on a daily basis. But I have a few “go to” trades that I will make when they trigger. Fade a pullback to a recent S/R level in the direction of the higher time frame trend (Trade2Hold) Fade a pullback to a recent S/R level against the direction of the higher time frame trend (Scalp … Read More
This Is What Insider Trading Looks Like
One of the most volatile stocks last week was LNCR. On Wednesday the Financial Times reported that it was in talks to be taken over for over $40 per share. The stock immediately spiked on heavy volume from 26 to 29. The market clearly believed the story. So it was on the top of my list for trading the rest … Read More
Reversal Rehearsel Revisted
Two weeks ago I wrote this post discussing that a lot of money was being made on the desk via reversal patterns. This post will discuss a few trades from last week that continued to show this pattern remains highly relevant and where a lot of money can be made intraday. On Thursday after the Supreme Court health care decision … Read More
The Trade That Never Happened
This morning I was reviewing Tuesday’s price action in APOL and found a long setup that I liked. On Tuesday while trading APOL I became somewhat enamored with the 35 level as it worked twice for me during the first 15 minutes of trading. But the truth is after 9:45 34.80 established itself as a much more important level for … Read More
You Got Me $APOL
I lost money trading APOL today. During my post trade review it became apparent to me that even with a few tweeks I still would have lost money day trading it. Sometimes stocks do not behave well. Perhaps APOL is better suited for swing and position trading? It has a history of trading erratically intraday. During the past few years … Read More
Tape Reading Was Money For This Play
On Thursday I was short MCP because it was trading below its two day support of 22.20. The market was having a trend down day and I was very comfortable holding the position until the close. But then something changed on the tape. There was a 100 share bid on ARCA at 21.20 that was being hit and continued to refresh … Read More
“NAV Again?”
Yes. As long as a stock is offering excellent risk/reward setups over and over I will keep talking about it. And for those of you who don’t know me personally it is not in my nature to repeat myself. I prefer to explain a concept once and then move on to something else. But apparently two blog posts, 5 mentions … Read More
Reversal Rehearsal
I have noticed recently a lot of money being made on the desk via reversal patterns. A reversal pattern is when a stock that has trended in one direction stops trending and then begins a new trend in the opposite direction. Reversal patterns can be much easier to trade than the initial trend as they usually unfold over a longer … Read More