Archive for July 2013

The Round Tripper

Jul 31st, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs
It is not every day that you are able to catch a trend in both directions in a stock. FB has been a short term trader's delight for the past five trading days. Media coverage hit a fever pitch today with FB tagging its otherwise meaningless "IPO price" of $38. The fact that it has been moving higher since last Thursday without a decent pull back and the roar from the broadcast financial media had me on high alert for a possible reversal. Technically it setup well on the Open as it strongly rejected the 38 level after trading above. I initiated a short. I was stopped out twice when it spiked above 38 two more times. As they say Read more [...]

Where is This Stock Going?

Jul 31st, 2013 | By | Category: Options Education, SMB Options
One of the truest things I've heard recently was "It's SOOOO nice not having to pick which way the stock is going!" That came from a one-on-one coaching student of mine that had fallen into the trap of over-analyzing charts and looking for "that one right" indicator. Not having to pick a direction had taken a huge burden off her shoulders. I don't know how many times I've told people that trading is not about being right—think "credit spreads and calendars"—but rather, it's about managing the trade. And with the non-dirctional strategies, like this trading student is learning, direction is even less of a factor. Here's Read more [...]

John Locke Weekly Market and Position Update for July 28, 2013

Jul 29th, 2013 | By | Category: Guest Blog
John Locke Be sure to visit our trading blog! And check out these great videos! May Group Mentoring Open House Part 1   May Group Mentoring Open House Part 2 Learn Read more [...]

EUR/USD Price Action Confirmation

Jul 29th, 2013 | By | Category: Marc Principato, SMB Forex
In this segment, Marc Principato, CMT reviews a EUR/USD day trade that is based on two price patterns and candlestick analysis.  No volume analysis required here.  Learn more at Visit the trade reveiw archive here. Contribute to my book here. Follow me on twitter here. [purehtml id=27] -- Marc Principato, CMT, Risk Disclaimer *No Relevant Positions SMB FOREX Trade on your own schedule Learn SMB′s Unique Strategy Trade Confidently in 6 Weeks Click here for a free trial of our chatroom Read more [...]

Perception or Reality?

Jul 25th, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Psychology
I have been long VMW since I bought it yesterday at the Open around 79.50. It closed near its high so I held it as a swing position. This morning I bid for more stock about $1 below where it closed yesterday, which had been the prior day's morning resistance (see chart below). My bid got hit before the market opened and there was a pretty nasty down move in it just as the market opened but not low enough to stop me out. phew! This afternoon I mentioned that VMW was moving higher above 84 resistance and a newb popped out of his chair with the following comment. "It is trading so much better today than yesterday." Putting aside Read more [...]

“The PlayBook is Worth Your Intellectual Energy and Time”

Jul 25th, 2013 | By | Category: General Comments
Here's another great Amazon review of The PlayBook: When I started reading the book (the introduction), I thought I was reading a novel and was so captivated by the events that I started hoping for a happy ending. But that was real life: the author's personal life. It's about resilience in the face of suffering and vicissitudes of life. The lesson is that you cannot control what life throws at you but you can control your reactions. Positive attitude and perseverance always prevail and the analogy with the market and trading is obvious. You cannot control the market but with hard work, determination, and persistence the trader Read more [...]

A Trade from a PlayBook Reader

Jul 25th, 2013 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
An SMB reader, who is not on our desk (yet?), read The PlayBook and was inspired to co-opt a particular concept for her own trading. We encourage all our readers to develop a methodology for your trading. Building a PlayBook of the trades that make the most sense to you is that methodology. Here is her PlayBook trade. Mike Bellafiore The PlayBook One Good Trade no relevant positions   Read more [...]

The Book He’s Been Waiting For

Jul 25th, 2013 | By | Category: General Comments
That is what Andrew Adams says in his review of The PlayBook at Amazon. Here's his review in full: I read a lot of books about trading/investing. In fact, I came to a point where I thought I had gotten through all of the quality books out there and began to scrape the bottom of the barrel with many of these low-priced DIY Kindle books (I'm not denigrating self-publishing as a whole, but you definitely get some fluff put together just to make a few bucks). As I've traded more and more over the past few years and read all of these books, my time frame has decreased to the point where I'm now holding positions usually one to three Read more [...]