The SPY traded in a pretty tight range this week, not trading much below 93 or above 95.50. Again, we were looking for that catalyst to push us one way or the other, and I thought we were going to get it Friday morning with the much better than expected non-farm payroll number. We’ll see this week if Friday’s weakness … Read More
Where is the Next 50c Trade?
We are in the office watching tape on this Saturday. We just ended Part I one of our review session. An interesting trading topic emerged: when to forgo a scalp. Let’s discuss. There is this notion that day traders just scalp. Wrong. But there is also this elitist belief that scalping is somehow beneath some traders. Not me. … Read More
TIVO- Remember Me?
One of the great things about being a trader is you get to trade whatever you want whenever you want. I haven’t touched TIVO in years. Honestly I cannot remember the last time I traded it. Why would I want to? What is it’s intraday daily range? Ten cents? But I did today. And it offered a few great … Read More
SMB Capital Blog – Now in Russian!
For our Russian speaking traders, check out a translation of some of our blog posts: myidealtrade.blogspot.com Don’t forget to follow us on Twitter!.
The key to my day today: stock selection
The key to my day today: stock selection. It was pretty clear this morning that the action was going to be in the financials that had announced secondary stock offerings. JPM, STI, AXP, and MS all sold stock to the general public so they could pay back the TARP money and get the gov out of their hair. In our … Read More
Don’t Overthink the Market
Saw a lot of tweets about whether the market could trade higher this afternoon. Chirp! There were the call outs that volume was light. Chirp! Some pointed at the financials not rallying. Chirp! Others highlighted the weakness in V, MA, JPM, etc. I have to share a funny story. One of the smartest guys we have traded with … Read More
The Week That Was: May 26 – 29, 2009
The action in this shortened week started on a strong note, and finished on a strong note. After popping above 90 on the SPY in the opening minutes of trading on Tuesday, the bulls seemed to be in control for the most part, never dropping 89, even when it appeared on Thursday that we would be trading down to the … Read More
Fundamentals
Trading is not just about reading charts, or reading the tape. We also must understand the market’s and a stock’s fundamentals. We are not fundamental traders but we use fundamentals to help us increase our win rate. For the intraday trader we use fundamentals very specifically. Let’s discuss. We used fundamentals to help us profit in JCG yesterday. Yesterday JCG … Read More