That’s NOT a Short!

BellaMike Bellafiore's (Bella's) Blogs6 Comments

Yesterday one of our most improved traders was trading GS.  Great stock to be in.  Great job of being in when many were taking off.   This talented young trader, let’s call him MROD, developed a detailed trading plan for GS.  MROD saw that 80 was resistance on the longer term chart in GS, remembered that the last time it … Read More

Build from a Base

BellaMike Bellafiore's (Bella's) Blogs3 Comments

Those who trade wish to make a lot of money. Traders are not trying to make $200 a day. They want to make much more. And often traders are ambitious. And they have rarely failed at anything they have done before. Perhaps they have been told their whole life that they were special. Most are the smartest person in most … Read More

What if I am Wrong?

BellaMike Bellafiore's (Bella's) BlogsLeave a Comment

I made some chops trading RIMM afterhours yesterday. More importantly I learned important levels. A ton of volume was done at 41 and 41.40 was a huge seller. Today my game plan was to aggressively buy if RIMM traded above 41.40. I was wrong. I had expected RIMM to fly after it held above 41.40. It didn’t. There was a … Read More