SMB is very proud to announce that two of our traders have started their own fund: Xanthus Capital Management. While Connor and G will be missed, we are very excited for them. And since they live around the corner from our new office, I am sure we will still see plenty of them. G has never had a bad day … 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
Ten Interview Tips for Proprietary Trading
Written 11/13/09 It is recruiting season for SMB again. That means some long trips, like the one I am on now, stuck on a train Friday night between Providence and New Haven. I actually got on the early train mistakenly and am in danger of getting booted off the train at New Haven. Seriously, the Amtrak ticket collector (that is … Read More
Opening Drive (HGSI)
Opening Drive? Mike is that some football term describing a team’s first possession? No. The Opening Drive is a play that momentum traders crush, leaving a huge grin on their face. These traders in the first 15 minutes can make enough to ensure an awesome trading day. We saw one today in HGSI on the Open. I walked onto … Read More
Give V a Chance
As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. Been there. Totally understand. I am with you. Today in V if you did not give it a chance to run then this was a spot on example. Today was a day to give V a chance. I traded V in the afterhours … Read More
Not Convinced of a Reversal Yet
We closed below an important technical level 1080 S&P 500. I watch SPY and a close below 107.50 confirmed weakness. I traded from the short side today in SOHU, COF, and FCX. But I am not ready to lay into my shorts just yet. Let’s discuss. Tomorrow I will pick some market stocks and look for opportunities to short … Read More
Making Intraday Trading Decisions
I am frequently amazed at how many people think intraday trading is all about Reading the Tape. I am more amazed at meeting too many who believe trading is all about reading some pretty charts. And I am also surprised at how few intraday traders embrace intraday fundamentals. Well that is a lot to be surprised about. When I make … Read More
Most Aggressive
Good traders pick their spots. Some opportunities allow us to be more aggressive than others. When we spot one of these opportunities we pounce, like a baseball player who takes a healthy cut a 3 and 1 fastball. If we fail to pounce then in our journals we must detail this opportunity so the next time we do. During our … Read More