The First Religious Ritual of 2009

…that is always how Fed afternoon strikes me. All of us short-term, high-frequency traders staring at the screens ready at least to watch the fireworks. Sometimes I find myself laughing at 2:14:30 Eastern time. Some of us love it (me) and some of us think it is insane (me too) but we watch …. wait […]

By |January 27th, 2009|“Locals”, Markets|0 Comments

What the hec is Psych Cap?

Okay it’s the name of this blog and a term we banter about but what do we mean? In short, we mean the power of an entire human psyche – intellect, thought, senses, feelings, emotions and energy. Each factor weighs in on the judgment, decisions and performance a trader (or investor) delivers and hence, elevating […]

By |January 5th, 2009|“Locals”, Definitions, Emotions & Decisions, Learning Psych Cap|0 Comments

Catch a bid

I have been wondering since mid-October when they were going to give in and do the basic thing one needs to do to stabilize a market – provide a deep-pocketed bid!

In fact, I said it on the Cavuto show and have said many times since, until the Treasury starts bidding for some of these so […]

By |December 31st, 2008|“Locals”, Markets|6 Comments

Rollover Chop and Slop

Were you listening to the S&P pit this afternoon? or, just watching the ES trade…. now THAT is the movie of chop and slop. Typical for rollover time – days better spent doing something more productive than trying to catch a decent intra-day trend!

By |December 10th, 2008|“Locals”, Definitions, Markets|0 Comments

The Big Money Day-Traders

Remember that nasty term from the internet bubble – day trading?

Hushhhhh! NO ONE wanted to be called a “day-trader”. All of those horrid types drove the market up and then drove it down and made everyone go broke…. right? … and they were stupid to boot.

Well day-trading is back …..but is has another name. HIGH […]

By |December 5th, 2008|“Locals”, Definitions, Markets|0 Comments

Bottom-feeding, Oh but Why?

Last night I turned on the 7pm CNBC show and listened to not one but two money managers make the case that October 10th was the low.

It would make me wonder if they have ever heard of momentum but in reality, what they are doing is finding confirming data in positions they already have. Our […]

By |November 13th, 2008|“Locals”, Markets|4 Comments

TARP – Treasury Acts ….

Treasury Acts Ridiculously _____________________? …. fill in the blank.

If the markets are based on confidence (or lack thereof) then where are we in the spectrum between panic and overconfidence? We are certainly on the left-end of this tug of rope. The panicked selling seems to be gone but now we are in a market rhythm […]

By |November 12th, 2008|“Locals”, Markets|0 Comments

Stock Market Psychology & Trading Levels

well they asked…. and yes we are in a bear market i.e. sell the rallies and buy the dips.

I hated to sound like a downer but hey, Roubini I am not (although so far…. )


Having said that, 900 in the S&P futures held like a rock.

Talking about that on TV […]

By |November 10th, 2008|“Locals”, Definitions|6 Comments

Human Market Makers

After Sept. 11th when the markets were closed for a week I pointed out to a WSJ reporter I know that this makes it clear that we should never have all electronic markets – the risk is too great. People have to be able to meet and make trades.

This market sell-off is bolstering that viewpoint. […]

By |October 9th, 2008|“Locals”, Markets|0 Comments

Judging Performance in Unprecedented Markets

Last week the markets, as measured by the e-mini S&P contract, moved in ways (and for reasons) that we have not seen in our lifetimes. When you judge your performance for the week, judge it against that backdrop – good or bad. Or, should I say, bad or good?

It is easy in such environments to […]

By |September 23rd, 2008|“Locals”|14 Comments