Archive for January 2013

Are Traders Masochists?

Jan 29th, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs
The question open for discussion is this: are traders by and large masochists? Bella and I had a brief chat today regarding the breakout trade in KERX that occurred on January 28th. He asked me to do a Webinar on it as he thought I might offer some more nuance on how to manage the trade where his trade management would be something like "above 5.10 I'm long". KERX had been discussed in our AM Meeting where we review the top In Play names for the day. It was discussed in the context of a stock potentially breaking out on the weekly chart, as well as a "small biotech" both of which have a history of making "silly moves" (as Gman Read more [...]

KERX Morning Preparation

Jan 28th, 2013 | By | Category: Steven Spencer (Steve's) Blogs
Here is a short clip of my discussion of KERX from today's AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs and VVUSs run much farther than less experienced traders expect and therefore they fail to capitalize on these outsized moves. Even worse some try to be "too cute" and get short causing them to take unnecessary losses.  Imprint this setup on your brain it will happen a bunch of times every year. Steven Spencer Read more [...]

Guest Webinar: 3 Intra-day Time Frames

Jan 25th, 2013 | By | Category: Steven Spencer (Steve's) Blogs
Steven Spencer will be breaking down the three major categories of trades that can be made intra-day by time frame. It has become increasingly clear during the past several years that certain intra-day trades should be de-emphasized and others given more attention. Steve will break down a trade from each category and then explain how to best allocate your time. Presentation should be no more than 30 minutes with up to 30 minutes available Q and A. If you would like to submit a question prior to the webinar just email Steve at [email protected] To participate in the Webinar just login to DTBC. If you aren’t a member Read more [...]

NFLX Pre-market Analysis

Jan 25th, 2013 | By | Category: General Comments

I wanted to share this clip from today’s AM Meeting. It is a reminder that stocks can go MUCH FARTHER than you expect.

Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is [email protected]

No relevant positions

Forex: What’s In Your Process?

Jan 25th, 2013 | By | Category: General Comments
Recently I sat through an excellent presentation about trading psychology. One thing that I learned about the best of the best traders is that their most common trait is something called “process”. Process is just another name for routine. It took me a very long time to realize how important this one concept is for the developing trader. The main lesson to take away from this is that these routines are what drive your trading plan. It all makes so much sense when explained to me in this context. This concept is all around us. For example, I know of grade school teachers who use routines not only to lead children through their Read more [...]

Free Webinar Recording – The PlayBook – Opening Drive in LNKD

Jan 24th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs, SMB on TV, SMB Video Blogs

This week on our New Webinar Series, The PlayBook with Mike Bellafiore, Mike discussed an Opening Drive Trade in LNKD . If you missed this Webinar please click here to watch the recording

This is How You Trade COH

Jan 24th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
I received this question from a foreign college student who took our college training program during the summer. It is a wonderful program for passionate college traders interested in trading pro. Let's check out his question and my answer below. I would be happy to answer any questions in the comments section or at [email protected] Trade well! Today I had a rough morning. I was hoping you could give me some advise on these trades. I traded COH above 51.8, DGX above 58.5 and NSC above 68 and I got hammered in all of them. Are these bad trades or did I do something else wrong? I have no problem taking a loss or being wrong Read more [...]

Is It Better To Trade From Home?

Jan 23rd, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
Bella, I first saw SMB on Wall Street Warriors as a Senior at Drexel University. Then, I found (unknowingly) your book on audible and decided to give the book a shot (its great by the way). Your book and philosophy on trading presents me and a ton of traders I know with a challenge, "stop believing that we are the warren buffets of the world and holding onto stocks" - as you say in your book (One Good Trade). I like the intraday world you depict in your writings on prop trading, but making the transition from being a long term value investor, to an intraday trader is challenging, to say the least. I am working Full-Time, trading Read more [...]