Every intraday trader should have a routine for their post-market review. It is just as important as preparing before the open. It is a great time to reflect on your trading day. Whether you ended the day green or red should not matter. It is part of the job. Post market is the best time to reflect on the … Read More
Trading Thought of the Day – July 25, 2011
Let the market come to you. You cannot control your trading opportunities just managing your risk for the opportunities the market offers. – Bella
SMB’s Options Tribe 7 19 2011
SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by outstanding veteran options traders and experts in the world of options trading. Last week, Steve Lentz of Optionvue returned to … Read More
SMB Morning Rundown for July 25, 2011
Some weakness overnight with congress failure to come up with agreement to raise debt ceiling. strong backdrop still exists overall and the market is well above overnight lows. SPY levels to watch 133.15-133.25 support. 133.90-134 resistance. 134.80 resistance. 132.75 support. Best Am Idea: Long ETFC above 16.50 level
Patience Pays – $MCP
A lot of the work in trading is just sitting and watching. Yesterday the market was absolutely dead into the close. The S&P futures sat tightly in a 3 handle range. At 3:45 EST, $MCP appeared towards the bottom of the Price Spike list of the SMB Radar. This was unusual because it hadn’t been on the list the entire … Read More
SMB Morning Rundown for July 22, 2011
Market has moved up quite a bit this week. We are due for a pullback so want to be cautious unless we can hold above 134.80. below 134.35 be cautious until we test the 133.90-134 area. Best AM Idea: Long SNDK on pull back to 43 level
The First Step to Trading Success
MICHAEL BELLAFIORE Becoming familiar with a chart pattern is step one, says Mike Bellafiore, but from there, traders continue on a journey where they must always learn, adjust, and strive to hone their craft. Bella One Good Trade
Trading Thought of the Day – July 21, 2011
It is not how much money you made in a play that is most important. It is how well you traded it for your style. – Bella