Before I trade a stock I check its short interest. Why? Because it may affect how the stock trades. Simply, the higher the short interest the more buyers there may be intraday. 26 percent of the float is short JCG. I considered this with my every trade today. Let’s discuss. In our SMB AM Meeting we discussed 25 as resistance … Read More
Sabotage
Today on the desk I heard,”Oh that MON is so hard.” And it was at times. In fact it was very difficult about 90 percent of the trading day. But it was not hard. There were three simple trades that if made would have left even the average trader profitable. Let’s discuss. At 82.75 the offer would not lift in … Read More
Find the Best Teacher
Mike wrote a very thoughtful article for SFO Magazine about how to find the best teacher. In the article, Mike discusses the characteristics of a great teacher and why it is important to find someone with these qualities when searching for guidance. You can read the article here. Feel free to leave comments on this blog.
Growth
Today is a good day to sit around and think about how we will improve as traders. Between the barbequed chicken, Cavs/Magic game, summer beers, and crazy relatives there is some time to reflect. Back in the day I would be someplace like Hilton Head, with a rental on the ocean, on an immaculate course, thinking about a new club … Read More
One Trick Pony
I get too many emails from, I meet too many people who, I hear of too many stories of traders who live off of one play. Commonly this play is as follows: a trader sees a big bid and they step in front or they see a big offer and they step in front. This is my definition of scalping. … Read More
Anatomy of a Rip
I mentioned last week that I would blog the next time I took a rip of more than 1K. Unfortunately, I ripped up a lot more than that today. There were several reasons why I took this unnecessary loss and they were all my fault. Sometimes as a trader you will take a large loss due to market circumstances. But … Read More
Center of the Green
Trading is about skill development and discipline. A huge advantage that intraday traders have over most is our trading skills. Most can’t grind it out and make the spread. Most traders can’t play the momentum, exit, and then flip their positions. But we are also judged on our discipline. And certain days call for restraint. And we must recognize such … Read More
Let It Breathe
As intraday trader we seek catalysts. By catalysts I mean something that will now make our stock move. And when we find a catalyst we then expect our stock to move immediately. But sometimes we need to let our stock breathe. Let’s discuss. There was an epic battle at 42 yesterday in STT. A secondary was announced at 39. Buyers … Read More
