The stock I was alluding to in my first post was AMZN. It had been trending up for five days and most of our trades have been on the long side. I mentioned in the morning meeting that 147 would be a 50% move since the gap up on earnings so I would like for signs of a top as … Read More
How Teaching Makes Me a Better Trader
Teaching new traders how to trade has made me a better trader. Below are five things I have learned about trading by teaching. 1) I have cemented the statistically profitable trades that work intraday. Being forced to teach others trading plays has made me recognize exactly which plays work best for me. 2) Video review with other traders increases my screen time … Read More
An Easier Trade
One our traders came over as I was talking to Jay our hyperkinetic intern about the cool new retweet button he installed on our blog, “Bella do you have a minute.” As a partner I have learned what can follow could be just about anything. Previously in the day one of the calmer traders on our desk stormed into my … Read More
SMB Setup for the Close for December 4, 2009
Today, the Market rallied on the Open and failed right above yesterday’s highs. SPY sold off hard mid-day when the market got below 111.50. The market found support around the 110 support level and rallied back up to 111. Into the Close we are watching SPY 111 and 111.50 for res and 110.45 and 110 for support. Don’t forget to … Read More
SMB Morning Rundown for December 4, 2009
Today, the Market appears set to open higher as news that nonfarm payrolls fell by just 11,000 compared to the 125,000 consensus number. The levels we are watching in the SPY are 111.40 for sup and 112.30 for res. Below 111.40, the next support level is SPY 111-111.20. Above 112.30, we could see a move up to 112.60-113. Our best … Read More
Stages of Successful Trading
I am certain that there are a myriad of ways to describe how a novice trader moves from lack of expertise toward mastery. I would like to use the below as a framework to describe the progression of the traders on our desk. In Part II I will give an example of a specific stock that was In Play today … Read More
Party in AMZN
This market just cracks me up. It is taking me some time to figure out the new patterns but I am slowly getting there. I got a bit tossed around making a relative strength play in JPM on the open and boy did I get destroyed. Well played algos, well played. On a positive note though, AMZN provided a great … Read More
SMB Setup for the Close for December 3, 2009
Today, the Market rallied on the Open and failed right above yesterday’s highs. SPY bounced off yesterday’s 111 support level and has been in a tight range for much of the day. The levels we are watching in the Close are SPY 111.60 for resistance and 111 for support. Below 111 we could see a move down to 110.50 and … Read More
