Ok so the volume is light. GMan barked on the Open, “Volume is down 1/2.” Dovey said about the same just with some streets of Brooklyn color. On a day like today we must observe this different trading. But there were still some opportunities. AJames made a great call in STEC as it made a new important technical high and … Read More
Learning How Not to Lose Money
With my post nasal drip cough I tucked myself into my trading station ready to perform. AST who sits to my left was interested in RHT. I didn’t have a stock(s) I needed to trade, so I traded his. RHT on the Open was a lesson in how not to lose money. 1) RHT first moved higher after its gap … Read More
Trade2Hold
As a trader our quest is to make trading opportunities our own. We are all different. We process information uniquely, have a different tolerance for pain, trade specific set ups better than others, etc. As intraday traders we must have Trades2Hold, longer term intraday trades in our quiver. But it is up to find these best ones for us. Today … Read More
Translator Please- RIMM
I am pretty exhausted. 1) I just traded RIMM in the after-hours for 2 hours. 2) I just listened to their CEO (or someone who does most of the talking during their conference call) explain business and trying to understand the guy required all of my mental energy. What is it with tech types where they think they can just … Read More
How Teaching Makes Me a Better Trader
Teaching new traders how to trade has made me a better trader. Below are five things I have learned about trading by teaching. 1) I have cemented the statistically profitable trades that work intraday. Being forced to teach others trading plays has made me recognize exactly which plays work best for me. 2) Video review with other traders increases my screen time … Read More
An Easier Trade
One our traders came over as I was talking to Jay our hyperkinetic intern about the cool new retweet button he installed on our blog, “Bella do you have a minute.” As a partner I have learned what can follow could be just about anything. Previously in the day one of the calmer traders on our desk stormed into my … Read More
A Support Play- WAG
As I was finishing my cholesterol free egg and bagel sandwich in the premarket, I saw huge volume in WAG at 37.32. When WAG opened more volume was done right here. Holy important intraday level! WAG finally held this level and I got long right on the open in WAG (I am not shy). This was a support play. WAG … Read More
Don’t Fight the Trend…. Save
We teach our traders to follow the trend. I certainly can fade stocks. For three years this is how I more than paid the bills from 03-06. And this fading period cemented my tape reading skills. So it’s not that I would never advocate fading as a strategy. Just not now. Not in this market. Well save a few … Read More