Just got out of our AM meeting. Good trading opportunities on the Open for LDK, BIG, ELN above 14.50, CRM, HK above 34.50, DRI support at 27.80. Choose carefully but there will be opportunities. Good luck.
Tier Size
The last few days have been a bit slow after the Open. We must adjust. One adjustment I make on such trading days is to lower my tier size after the Open. I traded HPQ on the Open (chart below). It held 45 and made a nice upmove to 45.25 where it was met with resistance. After a struggle at … Read More
Best Pizza
So one of our new traders, who grew up near my home town, and I were discussing the best pizza. For some reason there is this false notion that NYC has the best pizza. They don’t. The best pizza, Colosseo, is from my home town. This is not some parochial or biased call. I have traveled quite a bit. And … Read More
Is the Dollar Strenght Sustainable?
As I have mentioned in my bio, I have been trading currencies for quite a while. I do not miss getting up at 1am EST to get ready to trade the London session. Yet, these days with the current violent moves in currencies I find it hard not to sacrifice an hour or so of sleep to put a day-swing … Read More
Alert
Well yesterday was a bit slow. We trended up and then trended down towards the Close. On the Open I traded FCX and HK and recognized light order flow. I was aware not to get caught in the Low Volume P. For SMB that means the low volume programs where the short term longs lose as the stock is dropped … Read More
Formula for Success
This is a tough week for us. We’re narrowing down our invitations for our September class for which, along with June, we essentially recruit all year. We have received thousands of résumés and have sifted through them, searching for those with the background necessary to be a good trader. We interview only some of the applicants—and only some of those get … Read More
The Yo-Yo Almost Always Finishes On the Ground
Did you ever notice that when you are playing with a yo-yo you never catch the little toy in your hand after a good run and walking away? Nah, it is more common for one to play that yo-yo to the end, stretching the string until it no longer rebounds and you have to roll it back up manually and … Read More
Compete
An experienced trader, GM, emailed me late last night as the Yankees were getting pounded again by the Angels. GM had some very kind words for my previous blog post, which I appreciated and made the latest Yankees loss more palatable. In return I would like to spend some of this Saturday AM offering some guidance on his recent struggles. … Read More