One of my favorite phrases on our prop desk at SMB Capital is: the day doesn’t end until 4. If you start negative then you have the rest of the day to make it back and then some. In this market there is so much opportunity it is a waste of energy and irresponsible to get down after a few … Read More
Spreading Yourself Too Thin
Earnings season is an exciting time for us as traders. As Bella puts it, this is our Superbowl. Today was a great example of why this is an exciting time. I love being on the bus on my way to work scanning through briefing on my phone and seeing that a few of stocks I trade well have reported and … Read More
Sometimes You Just Gotta Be More Aggressive
I had a great day today. Actually, I feel like this could be the best I’ve traded in the past year. When I woke up this morning I was excited because there were a bunch of stocks that I’ve traded that had earnings today. And when the market opened, I was all over the place. My alerts were going off … Read More
Blackboxes/Algorithms Nothing to Fear
I received a GChat message from a future trader, Carter, who was interested in the impact of blackboxes or algorithms on intraday trading. I have heard Carter’s concerns from other future traders. Some believe that blackboxes will rule trading and eliminate the intraday trader. A few thoughts: 1) I have heard this argument for the past 5 years and I … Read More
A Bet That Paid Off
My primary focus for the past few years has been making money intraday. But occasionally I observe a pattern that causes me to take an overnight position. Around 10:30AM on Friday FNM had a very powerful breakout through $12. It topped out around $14. During the afternoon there was some selling and it traded as low at $12.40. But during … Read More
Plays to Add Size
One of our traders, CBA, made a chop in HON into the Close. And even better CBA got me into the play as well. I like that excellent communication at SMB Capital. CBA is a conscientious trader. He watches tapes of his trading over the weekend (I saw him this very Saturday watching such tapes in our office), keeps a … Read More
She Just Might Say Yes
Steve and I went to our 20th high school reunion last night. A few things: 1) they served chocolate chip cookies for dessert and I ate as many as I could until there were no more (delicious!); 2) I witnessed another great example of she just might say yes. For those on our prop desk in NYC she just might say yes … Read More
Earnings Season Has Begun
Our playoffs have begun- earnings season. This is the time where we as prop traders make most of our money because there is so much price action. Interestingly, there has been tremendous price action in the financials and energy sector recently before these playoffs. Hence a dilimena. What to trade? Do we stick with the energy and finacials stocks that … Read More