So I wrote a post yesterday about a memorable rip I took for my lack of focus. I appreciate the posts by our readers which demonstrated that some good came out of my rip, a lesson shared. I was thinking of titling this post, “And then the Sun Came Up”, but as I tweeted today it has rained everyday … Read More
Unnecessary
I made an unforced error on the Open today. I did something I never do. I broke a trading rule that I never break. And I pride myself on my discipline. I’m not concerned that I will ever repeat this error. I doubt that I will. I’m the most disciplined trader that I know. I just don’t make many mistakes. … Read More
Taking A Look Under The Hood Part II
I want to discuss in more detail how I believe I can press my advantage prior to the start of earnings season. As previously mentioned I spend a great deal of time looking at longer term charts. I am able to get a sense of which stocks are poised to make sizable intraday moves. I then set alerts at important … Read More
Trading Both Sides- RMBS
RMBS was In Play on Friday and we made some chops long on a slow summer day to its resistance, 17.80. 17.80 was an important technical level. RMBS collapsed from this level previously (see chart below). 17.80 was an inflection point for us on Friday and on Monday. And we made money on both sides using our trading skills. Let’s … Read More
Seconday Price Pattern: AMP, JLL
We spotted a trading pattern in AMP and JLL this week. Both traded below important support, their secondary price offering, and had a decent downmove below. Let’s discuss how to trade a Secondary Price, and the pattern we discovered. Trading a secondary is a simple trade. Above the secondary price we are long. Below the secondary price we flip our … Read More
From the Mailbag- RIMM
I received this question last night about a recent Tweet where we suggested an excellent entry for RIMM. Let’s read the question and then discuss. Dear Mike, I have been following SMB via Twitter and your blogs for some time now and have got a lot out of the posts. So thank you and all at SMB for that. I … Read More
Battle on the Open: CRDN
In my quest to help the intraday trader exploit the open better I offer another great setup on the open. Again for those who struggle on the open it is not that this is a difficult time period to master. It is that you are not in the right set ups. I call this one The Battle on the Open. … Read More
Trade on the Open: MCD
We teach our desk not to fade weak stocks. But there are plays on the Open that look like the stock is weak. Actually they are not. And these plays are given the green light to fade. We had such a setup in MCD on the Open. Let’s discuss. MCD opened near 58.33, could not hold and traded lower. MCD … Read More