There wasn’t a lot of fresh news today so the focus of SMB’s AM Meeting was Second Day Plays and Technical Setups. SDPs are setups in stocks that were In Play the prior trading day and tend to offer some well defined opportunities for a few more trading sessions. TSs are setups based on a longer time frame technical pattern … Read More
Crazy Cramer
I think one of the things that served Jim Cramer very well while he was a hedge fund manager was his mental flexibility. He could blog at 8:00AM how he loved VZ, but by the next day he could talk about how it was a piece of garbage. Many people thought he was crazy for changing his mind so quickly … Read More
Steps to Mastery
Some more thoughts on developing skills and mastery.
Bias Shmias!
One of the most frequent confessions I hear from developing traders is that they couldn’t change their bias when the price action warranted such a change. They develop a bias as to which direction a stock will trade and hold on to their viewpoint despite overwhelming evidence to the contrary. I have even heard there are many experienced traders who deal … Read More
The Rage to Master
Some thoughts on the process of becoming a trader
Sammy’s Journal: Rolling With The Punches
At the beginning of the year I had goals for myself, which I did not achieve. So, I asked myself “what can I change in order to achieve these goals going forward?” I made a few changes and made it through a wild week, which turned out being my best week so far. The month started like this: Tuesday: Good … Read More
Don’t Be This Guy
Yesterday in the AM Meeting I mentioned XOM basically as an aside. It had reported earnings and was at the 52 week high in the premarket, so I felt obligated to at least mention that it should be bought above that level. So it ended up consolidating tightly right below the 80 level and I’m sure a bunch of SMB … Read More
Perseverance
Perseverance: steady persistence in a course of action, a purpose, a state, especially in spite of difficulties, obstacles, or discouragement. At the start of the New Year, I set certain goals and high expectations for myself. However, in the month of January, I seemed to have a tough time trading. I started to have down days during my first two … Read More