November, 2009 | SMB Capital - Day Trading Blog

AIG Pulls Me Back In

I wasn't planning on trading AIG. I thought SEED would consume most of my attention. Actually I thought I could establish a decent size position in SEED, sit back, and enjoy the ride. I would let the MoMo hedge fund traders do their thing. Who am I to get in the way of a low volume market pattern? SEED above 12 was an excellent trading opportunity. But while SEED was not moving AIG called for me. "Bella get in there." "Mike you don't want to miss a break down in me today." And so I nibbled. When I just start trading a stock I like to feel its strength and weakness by trading in and out of it with small size. I can tell by how easy it is to get hit on the bid and possibly Read more [...]

Tags: AIG, proprietary trading, smb capital Posted in General Comments, Mike Bellafiore's (Bella's) Blogs | 5 comments

SMB Setup for the Close

Nov 30th, 2009 | By smbcapital | Category: General Comments

Today, the Market bounced off the 109.00 support level we mentioned in our Morning Rundown post. We expect the SPY to stay in a pretty tight range between 109.20 and 109.60 into the Close. Above 109.60 we may get a move back to 110.00.

Our best idea into the Close is to buy SEED on a pullback close to 12.70. Tgt 14.00.

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Posted in General Comments | No Comments »

SMB Morning Rundown

Nov 30th, 2009 | By smbcapital | Category: General Comments

Today, the Market appears set to open virtually unchanged from the Close on Friday. The levels we are watching in the SPY today are 110.50 for resistance and 109.00 for support. If the SPY starts holding below 108.80, we expect a move down to 108.00.

Our best AM Idea for today, which we highlighted in our AM Meeting is to short STT at 40.80. First target is 40.00. If it starts holding below 40.00, we expect a move down to 38.00.

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StocktwitsTV – Live From the SMB Classroom with Bella

Nov 30th, 2009 | By ajames | Category: General Comments

Last night, SMB Capital's Mike Bellafiore appeared on StocktwitsTV to discuss the action on Black Friday and the proper way to prepare when there is important news that may move the Market. Mike talks about trading with a bias, and why it is important to be mentally flexible when the Market gaps up or down. Click here to watch the clip. Mike appears on StocktwitsTV every Sunday at 8:30pm so be sure to tune each week to watch the show. Don't forget to follow us on Twitter. Read more [...]

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Best Links From the Week

Nov 29th, 2009 | By Bella | Category: General Comments

Interesting look at investor sentiment. The exciting future for StockTwits TV. "there is no sharp demarcation between working on yourself as a person and working on yourself as a trader," Dr. Steenbarger. I really enjoyed "SuperFreaknonics" by Steven Levitt and Stephen Dubner. Their latest offers much to think about for those interested in finding cheaper solutions to a myriad of complicated, seemingly expensive fixes. As a huge Yankees fan I have watched Ross Ohlendorf pitch on many occasions. When Brian Cashman, the Yankees GM, made the conscious decision to restock the minor leagues with quality arms Ohlendorf was one such example. When he pitched for the Yankees in relief his talent Read more [...]

Tags: Dubai, housing, proprietary trading, smb capital Posted in General Comments | 4 comments

Reflections on Black Friday: Market Psychology

Nov 27th, 2009 | By Bella | Category: General Comments, Mike Bellafiore's (Bella's) Blogs

At 5:15 AM I awoke Eastern Standard Albany Time. I was in Albany, New York about to take a borrowed car to the Amtrak train station to the subway to my office trek. Door to door it took me just under four hours. I was the only one awake on Amtrak from Albany to Penn Station as I was preparing for today's open, trying to communicate with my partner Steve, rip through charts, and find patterns from overseas trading that might give us an edge before the open. The night before we had called all of our traders in for today's trading session because of the Dubai news. We reached some but not all. We spread word to the StockTwits community that this Black Friday was not a session to miss Read more [...]

Tags: Black Friday, market psychology, smb capital Posted in General Comments, Mike Bellafiore's (Bella's) Blogs | 2 comments

Black Friday Close

Nov 27th, 2009 | By Bella | Category: General Comments

Into this Black Friday Close today we are paying special attention to some key levels in SPY:

110 is our biggest intraday level.

below 109.75 I will lean short.

We are watching the market leaders: AAPL (winner Best Intraday Stock for today), AMZN, GS, POT, JPM. And now we just started watching SEED as a momentum stock (above 11.31 is a buy signal intraday).

We will keep our ears open for any updates on the Dubai debt.

The volume is light. But there will be some opportunities and we are in our seats waiting to pounce. Best of luck into the Close!

Tags: AMZN, Black Friday, Dubai, smb capital Posted in General Comments | No Comments »

StockTwits TV – SMB Capital Strategy Room Special: Trading Off Dubai

Nov 27th, 2009 | By ajames | Category: General Comments

This morning, SMB Capital's Steve Spencer appeared on StockTwitsTV in a special broadcast to talk about the Market action around the world after the news that Dubai may have trouble repaying its debt. Steve highlighted the key levels in the SPY to watch and the stocks that may offer the most opportunity. Watch the clip here. Don't forget to follow us on Twitter! Read more [...]

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Morning Recap

Nov 27th, 2009 | By sspencer | Category: General Comments, Steven Spencer (Steve's) Blogs

Normally during a strong market we look for a bounce with such a large gap. Circumstances are a little different this time as Asia has sold off hard for two days and we need to play catch up. I'm still a buyer at key support outlined below. Especially in the stocks that have been strongest recently such as AMZN, FCX, POT. Already in premkt SPY failed to get above 109 and we have positioned ourselves with some shorts for a move to 108 on the Open. If we hold above 109.10 I will be long. risk/reward also favors covering and being long at 107.40. SPY: look for failure at 109-109.10. support 108-107.40 GS: key inflection 165. identify a seller below 164.80 then get short. love Read more [...]

Posted in General Comments, Steven Spencer (Steve's) Blogs | 3 comments

Holiday Interruptus!

Nov 26th, 2009 | By sspencer | Category: General Comments, Steven Spencer (Steve's) Blogs

It looks like holiday interruptus for the traders at SMB. The financial/real estate bubble that is better known as Dubai has burst like a Macy's Thanksgiving Day Parade balloon. As I write this quick note the Hang Seng is down about 550 points but 200 points off its low. The S&P futures are off 23 and the NAS 100 futures are off 40. I've already received a few emails from some of our guys who are chomping at the bit to take advantage of what tomorrow's shortened trading session has to offer. I have spent the past couple of hours watching world markets trade and writing down notes on the stocks I may trade tomorrow. As a short-term trader I must be prepared to pounce when the Read more [...]

Posted in General Comments, Steven Spencer (Steve's) Blogs | 1 Comment »