Yesterday during our morning meeting Steve brought up an interesting point and I couldn’t resist writing a blog post about it. In fact, this is not the first time I have heard about it and it bothers me quite a bit. For some odd reason long-term investors do not believe in taking profits. I can understand not taking profits because … Read More
Getting Flustered
We had a film review yesterday with one of our better young traders. The young man can trade. But he under-performed on the Open. So we watched the video of his Open. It was like someone else was inhabiting his body. I did not recognize this type of trading from him. In fact I am not sure you can really … Read More
Batman
Just read GMan’s blog about SMB’s Batman night. I have to add a few thoughts. 1) Watch Batman on an IMax screen. It is an incredible movie watching experience. If you live close to NYC or in NYC don’t just go see it on a regular screen. Go and find an IMax theatre. If you have already seen in on … Read More
Summer Trading
The slow part of the summer is upon us. Seasonally this is the best time to take time off to get ready for another exciting year of trading. August is typically a very slow month in trading, especially the last two weeks of the month. If the volume and volatility is not there, it is not the time to sling … Read More
Be in the Stock When It’s Moving
As we have mentioned previously in my blog some have emailed me with concerns that program trading will rule trading soon. The market will never displace the disciplined independent trader. What is certain is that programs mandate that you adjust your trading and more selectively choose your entry points. Let’s take a look at ELN from yesterday to illustrate this … Read More
Just Trade
There was a bunch of chatter on our desk before the Close about a dead market. DQ, a solid young trader, was complaining, “The energy stocks stopped moving. They don’t move that well after 2:30. Nothing is movin.” I remarked, “So take a look at some of the financials, young fella.” MER was sitting there at 25, bobbing and weaving … Read More
A Trade You Must Be In
On our desk there are trades that you must be in. There are setups that if offered by the market you must exploit. You should have a list of the trades that you must be in. And if this trade results in a loss you are not annoyed. In fact you are grateful for the opportunity. There are trades where … Read More