I spent seven years with the firm where I began my trading career. Little did I know it at the time but I was surrounded by an unusually high number of very talented traders. One of the traits that they shared was an attitude that they would take out from the market as much money as they possibly could every … Read More
FSLR After Hours
Some great action in FSLR after reporting today. It immediately drove up from 175 to 187. There was a pullback to 180 where the bid momentarily held before dropping out to 179. Before you could blink it drove up to 190. This powerful drive got us to start thinking about where to buy on a pullback. Gman was thinking 185 … Read More
The Pattern
As traders we are always looking for patterns. If we can spot a trading pattern that repeats itself (at least for awhile) we have an edge. When people hear the word “pattern” they usually think of a visual pattern. For traders this would typically be represented as a particular chart pattern. For those of us who read the tape it … Read More
AMZN Tomorrow
AMZN has been one of my favorite stocks to trade for the past three years. It usually offers excellent price action for a few days before and after its quarterly earnings report. I have found that watching it trade in the after market once it releases its numbers is very instructive for the next trading day. Immediately following the release … Read More
Manipulation at Its Best: Will Someone Finally Prosecute? Insights by Jonathan Lebed
I haven’t seen what I witnessed in premarket trading yesterday in quite some time. Some BS company issued a “press release” that they were going to make a tender offer for HAR at $49.50 per share. The name of the company was the Arabian Peninsula Group. This information was picked up by some Middle Eastern site (www.ameinfo.com) which in turn … Read More
Flexing My Brain
During our AM Meeting the other day I suggested that FAST might be setting up for a nice down move. The stock was gapping down in the premarket on earnings–albeit on light volume. It had runup on Friday so I thought a bunch of traders were caught leaning the wrong way and would panic out below 30. Right on the … Read More
Financials Are The Tell
I have spent a lot of time trading the financials for the past 18 months. Maybe too much time 🙂 Yesterday, when many traded to key support levels I got long. Some broke these levels briefly so I got out and even got short some MS. Not such a good idea. Every single financial closed significantly above their support levels … Read More
So What Now?
The SPYs finally closed below 88.50. This is the lowest close since the gap day on May 4th. Many people are talking about how the daily chart for the SPYs look like a head and shoulders with a neckline at 88. There will be many obsessively on tv talking about how “technically” we look like we are going to trade … Read More