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The key to my day today: stock selection
The key to my day today: stock selection. It was pretty clear this morning that the action was going to be in the financials that had announced secondary stock offerings. JPM, STI, AXP, and MS all sold stock to the general public so they could pay back the TARP money and get the gov out of their hair. In our … Read More
A Must Read: The Daily Trading Coach
The first time I met Dr. Steenbarger was in the smaller conference room of our proprietary trading firm in NYC. We were finalizing our training program and we wanted the best teacher that we knew to review our work. He wasn’t being paid, he was just a trading coach offering a helping hand. As Dr. Steenbarger offered his critique I was … Read More
Question From a New Trader
I received the following inquiry from one of our talented new traders while going over our mentoring spreadsheet. “I took a pretty big rip late in the day in this stock and wanted to know if I got out of it the right way; there was a battle between 48.12 and 48.15 and I paid for 100 at 48.16 when … Read More
Don’t Overthink the Market
Saw a lot of tweets about whether the market could trade higher this afternoon. Chirp! There were the call outs that volume was light. Chirp! Some pointed at the financials not rallying. Chirp! Others highlighted the weakness in V, MA, JPM, etc. I have to share a funny story. One of the smartest guys we have traded with … Read More
The Week That Was: May 26 – 29, 2009
The action in this shortened week started on a strong note, and finished on a strong note. After popping above 90 on the SPY in the opening minutes of trading on Tuesday, the bulls seemed to be in control for the most part, never dropping 89, even when it appeared on Thursday that we would be trading down to the … Read More
Why Inexperienced Traders Fail to Hold Their Winners
One of the most difficult skills to master for a younger trader is holding a position for a larger move. I’m going to discuss the reasons that I believe this is the case and some of the things SMB does to help its traders improve on this very important skill. I will also briefly discuss one of the younger traders … Read More
Fundamentals
Trading is not just about reading charts, or reading the tape. We also must understand the market’s and a stock’s fundamentals. We are not fundamental traders but we use fundamentals to help us increase our win rate. For the intraday trader we use fundamentals very specifically. Let’s discuss. We used fundamentals to help us profit in JCG yesterday. Yesterday JCG … Read More
