Capitalize

BellaGeneral CommentsLeave a Comment

One of our new traders asked me whether yesterday was like trading “Back in the Day” (think Internet boom). I quickly said no and explained that spreads were wider and programs were unborn. But I thought about his question some more that night and recognized that yesterday did offer the trading opportunities that we often saw during the late 1990s. … Read More

Super Bowl of Trading

BellaMike Bellafiore's (Bella's) BlogsLeave a Comment

Tomorrow is our Super Bowl. LEH may file for bankputcy. MER may be bought. Oil is below $100. AIG is seeking capital. We not gonna get all those funny commercials, chips, pizza and cheap beer. But we are gonna get some serious price action tomorrow. Can we just go to the office and start trading now? OK so what do … Read More

Lehman Support

sspencerIntraday Levels, Steven Spencer (Steve's) BlogsLeave a Comment

Just wanted to write a quick note that LEH has been showing support around 7.50 all day.  It spiked down there a few minutes ago and I got hit for 1,000 shares.  I have a stop order below 7.45.  If sellers come down aggressively below 7.40 I will change my bias to the short side again.  Above 8.15 I will … Read More

LEH, Financials, and Oil

BellaMike Bellafiore's (Bella's) BlogsLeave a Comment

LEH was crushed yesterday. The price action screams that the market has lost confidence in LEH. We saw foreshadowing of this as my partner, Steve Spencer, has been highlighting during our AM meetings. And today LEH preannounced. LEH traded above 10 and then went negative. They are on a conference call as I write. What a great trading opportunity. So … Read More