We talk a lot about how important price matters in making consistent money. But it is equally important to be in stocks that are in play, that are moving. Stock selection is crucial in making consistent money. I have been frustrated lately with many young traders on our trading floor over the past couple of weeks, because I feel that … Read More
Nothing but RIMM
There were two good trading opportunities in RIMM today. Below 50 on the Open was an excellent short. Above 47.50 after the Stimulus Package agreement was leaked. Everything else, and I mean everything else, was a shit show. Let’s discuss. First, I am not a huge fan of cussing. But if you had just spent the day trading RIMM like … Read More
Tools of the Trade
The best short term traders have a multitude of ways to make money. They are able to recognize patterns on the Box, they will take advantage of great technical setups, or they may identify the overall strength/weakness of the market on any given day. Today I was unable to trade due to a never ending flu. I don’t have access … Read More
Heineken Light
Today into the Close was light. Heineken Light. GMan stopped trading around 3:10. Alex and I traded GS into the Close. We made some chops and then got squeezed right before the Close. Ripper. I could have avoided this rip. After the Close our desk talked about the light volume. There was no follow through with the stocks we were … Read More
A Couple of Interesting Things
I haven’t posted in a while. I have been focusing on my trading. I’ll probably post something later this week. But there were a few really interesting articles I’ve seen recently. Links are provided below: Dow could see 4,000 soon. Media market timing is great. Earnings are cyclical. Twenty five top financial blogs.
Random Basketball Thoughts Useful for Trading
Coach Beilein, University of Michigan Head Basketball Coach, offered some thoughts for his players useful for traders. U of M was preparing to play the mighty University of Connecticut. UConn was ranked #1 in the entire country, as is their natural right. And U of M was a middle of the pack Big Ten school. U of M has about … Read More
Learning to Grind it Out
Last Thursday after the close I was reading through our newswire service and saw that their in-house traders posted comments about their trading and saw something that caught my attention. Most of them said that they had traded lightly this week given the current market conditions. Further, I have heard from traders on the street that they have found the … Read More
A Core Position (HIG)
Our firm did a great job establishing a core position in HIG yesterday. GMan was grinding it out in HIG during the lunch hours. Numerous times he was long waiting for HIG to break above 11.50 and it just couldn’t. And then HIG would return to 11. Looking at the intraday chart a new trader might have concluded that HIG … Read More
