Archive for June 2010

Be Like Mike !

Jun 30th, 2010 | By | Category: Steven Spencer (Steve's) Blogs, Trader Development
For those of you who are avid fans of the NBA you have probably heard the stories of how Michael Jordan use to practice as a member of the Bulls.  He was totally cutthroat.  It was not uncommon for fisticuffs to breakout between him and some of the bigger players on the second unit during scrimmages.  He hated to lose that much! One of our newer trainees has a Jordan like work ethic.  Of the dozens of trainees we have worked with during the past few years he is by far the most fully engaged in learning the craft of trading.  He wakes up 5:00AM each morning to make sure he can be at the office no later than 7:30.  He never Read more [...]


Trading Quote of the Day

Jun 30th, 2010 | By | Category: General Comments

“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.”

Ed Seykota



SMB Morning Rundown – June 30, 2010

Jun 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 [...]


How to Find a Hot IPO: TSLA

Jun 29th, 2010 | By | Category: Mike Bellafiore's (Bella's) Blogs
One of our new traders poked his head into my office yesterday and asked,"What do you think of TSLA?" I had read a few things about the IPO but nothing that led me to think it would be especially hot. The whole electric car thing is cool but I didn't feel the hype (think huge margins and a ginormous upside that an analyst would have trouble calculating; heck, think GOOG circa 2004). "Who is the underwriter?" I responded. "Goldman and Morgan." "Hmmm. Well, that is who you want as the underwriters. What is price range for TSLA?" "14-16." "OK, well we want TSLA to open above that range. And then hold above this range." Young Read more [...]


Trading Quote of the Day

Jun 29th, 2010 | By | Category: General Comments

“This (Trading) is not a job where you get paid by the hour.
You get paid for doing the right thing.”

Vadym Graifer & Christopher Schumacher,
Techniques of Tape Reading



SMB Morning Rundown – June 29, 2010

Jun 29th, 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 [...]


Trading Quote of the Day

Jun 28th, 2010 | By | Category: General Comments

“When reward is at its pinnacle, risk is near at hand.”

Jack Bogle



SMB Morning Rundown – June 28, 2010

Jun 28th, 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 [...]