This afternoon on CNBC’s Fast Money Halftime Report, Dennis Gartman (producer of the respected The Gartman Letter and former futures analyst for A.G. & Becker) and I seemed to dissent about how to play GS. We didn’t. Let’s discuss. About a week ago, I advocated shorting GS at 150 with a stop at 151.17 and a target of 140. For … Read More
Slowing Down Your Game
So I wrote a post yesterday about a memorable rip I took for my lack of focus. I appreciate the posts by our readers which demonstrated that some good came out of my rip, a lesson shared. I was thinking of titling this post, “And then the Sun Came Up”, but as I tweeted today it has rained everyday … Read More
Unnecessary
I made an unforced error on the Open today. I did something I never do. I broke a trading rule that I never break. And I pride myself on my discipline. I’m not concerned that I will ever repeat this error. I doubt that I will. I’m the most disciplined trader that I know. I just don’t make many mistakes. … 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
Market Commentary from JToma
It seems that the market has finally begun to take a direction after trading in a range for about two weeks. Monday started a sharp sell off in SPY, opening at 94 and closing below the key 93 support level. Today we saw SPY briefly trade above 93 but quickly sell off to close the day at 91.66, breaking all … Read More
Finally the Turn?
It seems that we are finally starting to turn. The overly talked pullback may be on its way. It started with the SPYs gaping down Monday with a failed attempt at filling the gap. Yesterday we closed below the trading range we had established for a while. Today we got confirmation by cleanly taking out yesterdays low and holding for … Read More
Letting the Play Unfold
We started a down trend in the last couple days and as long as SPY is below 93.60, I will try and stay short. It is not hard to make money as an intra-day trader during these type of market days. The key I am finding with my trading lately is that I have to let the play unfold. Lately, … Read More
Trading Both Sides- RMBS
RMBS was In Play on Friday and we made some chops long on a slow summer day to its resistance, 17.80. 17.80 was an important technical level. RMBS collapsed from this level previously (see chart below). 17.80 was an inflection point for us on Friday and on Monday. And we made money on both sides using our trading skills. Let’s … Read More
