Ready For A Break

sspencerGeneral Comments, Steven Spencer (Steve's) BlogsLeave a Comment

After yesterday’s hard sell off into the close I was expecting some follow through to the downside.  We did have some nice downside momentum this morning through the 108 level of the SPYs but by 11:00AM we were flat for the day and in consolidation mode.  The price action was much different than last time we had a major down … Read More

Vegas Baby, Vegas!

gmanGeneral Comments12 Comments

The traders expo in Las Vegas is just another great excuse to visit Sin City and it is just around the corner (Nov 18-21st). We would like to continue adding value to your trading while there and we need another excuse to go have some fun. Rather than doing a booth setup advertising our training products we are interested in … Read More

Most Aggressive

BellaMike Bellafiore's (Bella's) Blogs4 Comments

Good traders pick their spots.  Some opportunities allow us to be more aggressive than others.  When we spot one of these opportunities we pounce, like a baseball player who takes a healthy cut a 3 and 1 fastball.  If we fail to pounce then in our journals we must detail this opportunity so the next time we do. During our … Read More

One Good Trade

sspencerSteven Spencer (Steve's) Blogs, Trading Theory4 Comments

We evaluate our trading at SMB on the process.  If you focus on the process instead of the result in any endeavor in life your chances at success are much greater.  Too often people focus on the results.  When you confuse a good outcome with good work you are bound to form bad habits that will harm you in the … Read More

Got Ran Over for Being a Stubborn Monkey

gmanGeneral CommentsLeave a Comment

Today I made I mistake I rarely make – I let my bias take over my trading. I came in with a small overnight short in MGM and in AIG. Both showed huge relative weakness yesterday and both were working great in premarket with the gap down. The plan was simple, I would add to the positions once below important … Read More