Archive for November 2009

AIG Pulls Me Back In

Nov 30th, 2009 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
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. Read more [...]

SMB Setup for the Close

Nov 30th, 2009 | By | 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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SMB Morning Rundown

Nov 30th, 2009 | By | 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 | 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 [...]

Best Links From the Week

Nov 29th, 2009 | By | 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 Read more [...]

Reflections on Black Friday: Market Psychology

Nov 27th, 2009 | By | 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 Read more [...]

Black Friday Close

Nov 27th, 2009 | By | 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!

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

Nov 27th, 2009 | By | 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 [...]