Archive for March 2010

TRADING WITHOUT VISIBILITY (ARQL)

Mar 31st, 2010 | By | Category: Mike Bellafiore's (Bella's) Blogs
I was flying home from Florida this weekend and we started hitting some serious turbulence on the descent.   A woman in front of me popped open the window shade and was startled by the lack of visibility.  "How can we land in this?  You can't see a thing!" she shrieked to her significant other (who looked too much like "The Situation" from "Jersey Shore").  Trading ARQL today I was like that Continental Pilot navigating us safely to Newark (nice job btw Captain!). It is not like the pilot sticks his head out the window to help him land.  He is flying based on his instruments.  If it was perfectly clear he would still Read more [...]


SMB Morning Rundown – March 31, 2010

Mar 31st, 2010 | By | Category: Trading Ideas
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open. Read more [...]


Nice Idea But Poor Execution

Mar 30th, 2010 | By | Category: General Comments, Steven Spencer (Steve's) Blogs
I was interested in shorting CLF this morning below 73. My price alert was triggered when CLF dropped 73. It traded down over the next few minutes to 72.50. I offered some stock at 72.88 thinking that CLF would quickly bounce back before downtrending for the day. CLF did pop up to 72.85 but never traded up to 88 cents where I was offering stock. As it traded lower I offered stock in the 70s and then 60s but noone was interested in paying the offer. CLF continued to trade lower. I finally decided to get aggressively short at 9:47 when it was at 72.03. I hit three lots which was moronic. Immediately an HFT program responded Read more [...]


FRESH NEWS AND A LEVEL (VZ)

Mar 30th, 2010 | By | Category: Mike Bellafiore's (Bella's) Blogs
Not all levels are created equal.  As traders we must differentiate which levels are most important.  Less important levels require more checks for us to take positions.  Well fresh news just might be one of those checks. VZ had fresh news today.  From Forbes.com: Rumors have been circulating that a new Apple ( AAPL - news- people ) iPhone, equipped to operate through Verizon Communications' ( VZ - news - people ) Verizon Wireless, could be in the works as early as this summer. A quick look at our long term charts found 31 as a resistance level, "a level".  On the open the question was whether to buy VZ Read more [...]


SMB Morning Rundown – March 30, 2010

Mar 30th, 2010 | By | Category: Trading Ideas
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open. Read more [...]


SMB on CNBC HALFTIME REPORT

Mar 29th, 2010 | By | Category: Jeff Tomasulo's Blogs, SMB on TV
Jeff Tomasulo, senior trader at SMB Capital, appeared earlier today on CNBC's Fast Money Halftime Report. Read more [...]


All “LEVELS” ARE NOT CREATED EQUAL

Mar 29th, 2010 | By | Category: Mike Bellafiore's (Bella's) Blogs
During a midday lecture with our new class we discussed the trade in BA above 73.40, "a level".  One of our new traders reasoned, "BA got above the level so I bought."  I stood up, paced to the front of the room, and started teaching.  We don't just buy a stock because it is above a level.  Or do we? My first question to Trader Casey who originally raised the question of how to trade this level was, "How important of a level is 73.40 in BA?"  If 73.40 is a significant level then as soon as 73.41 offer appears I would get long.  But I hear too much of this talk:  "(xyz) is a level and (abc) is a level."  Ok great.  How Read more [...]


SMB on StockTwitsTV

Mar 29th, 2010 | By | Category: SMB on TV
Steve appeared on StockTwitsTV to discuss the Market and the stocks in play for the day. Read more [...]