Each day the market presents an opportunity to make money. Let me restate. Each day there is money to be extracted from the market. Let me restate. Professional traders who properly prepare each day have a 90% chance of taking money from the market. The 10% of the time they don’t make money is usually due to a mental mistake … Read More
Know Your Edge(s) and Thanks Joe P
The market has slowed down quite a bit recently. Unless you are trading the most In Play stocks there is virtually no follow through. At times like this it is even more important to refocus on your trading edge. For myself I have identified four things that have allowed me to make money consistently over the years. 1) Previous day’s … Read More
RIMM Revisited
The market has really beat the crap out of RIMM the past week or so. 86 to 68 without a significant intraday bounce. That is the definition of short term oversold. So today in our AM Meeting we discussed the possibility of a bounce. We were focused on a couple of key levels from the prior trading day. We noticed … Read More
It’s Called Trading
Each day into the Close our intern Krysten asks me to share a trading idea for our Twitter feed. Today I told her that I was short AAPL below 138 but would cover above 138.15. AAPL had failed at the 138 level earlier in the day and had a significant down move. I was risking 15 cents to make potentially … Read More
RIMM For Tomorrow
I traded RIMM in the aftermarket today. It was a bit of a roller coaster ride. Initially our “chirp guy” (person who reads breaking news over a speaker) said they beat their earnings estimate by around 20%. I have a rule in the after hours when trading a momentum stock. If they beat estimates by more than 10% I buy. … Read More
Taking A Look Under The Hood Part II
I want to discuss in more detail how I believe I can press my advantage prior to the start of earnings season. As previously mentioned I spend a great deal of time looking at longer term charts. I am able to get a sense of which stocks are poised to make sizable intraday moves. I then set alerts at important … Read More
Taking A Look Under The Hood
In the world of day trading we like to say that earnings season is our “playoffs”. It only occurs four times per year and is a time where trading opportunities abound. The most difficult thing during earnings season for traders is remaining focused on their best ideas and not attempting to bite off more than they can chew. If a … Read More
Afternoon Support Equals Morning Resistance
I would like to share with you another little gem from the world of intraday trading. If a stock shows support at a particular level in the afternoon then the following morning this level will serve as resistance if the stock has gapped down. In our AM Meeting today I highlighted some of the market leaders such as AAPL and … Read More