As a desk we have transitioned into focusing on Trades2Hold due to different market conditions. Scalping has diminished. C trades deemphasized. We wait for our best set ups and execute. But then Obama entered the arena looking for a fight with the Banks. Things got ugly. And as traders we need to adjust again. Back in the Fall of 08 … Read More
Trading A Secondary Level
JPM priced a secondary a couple of days ago at $35.25. JPM showed nice strength in the morning and traded up from around $34.40 to $35.25. One of the younger traders on the desk called out “JPM at the high of the day”. Rosie, the trainee who sits to my left immediately responded that JPM was approaching its secondary price … Read More
Question From a New Trader
I received the following inquiry from one of our talented new traders while going over our mentoring spreadsheet. “I took a pretty big rip late in the day in this stock and wanted to know if I got out of it the right way; there was a battle between 48.12 and 48.15 and I paid for 100 at 48.16 when … Read More