All entries by this author

SMB AM Meeting Recap: $PRAN

Mar 31st, 2014 | By | Category: SMB Video Blogs, Steven Spencer (Steve's) Blogs, Trading Ideas
In this short video, Steve discusses a stock from this morning's AM Meeting. Every morning he reviews the market and analyzes the stocks that are in play and likely to have second-day moves. Steve discusses the potential trading setups in $PRAN. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 18 years. His email address is: sspencer@smbcap.com. Steven Spencer is currently long ADBE, CIEN, CLDX, CROX, FB, GM, HLF, LEN, P, PLUG, RAX, SCTY and short SPY. Learn the skills necessary to identify Read more [...]


SMB AM Meeting Recap: NUS

Mar 24th, 2014 | By | Category: Trading Ideas
In this short video, Steve discusses a stock from this morning's AM Meeting. Every morning he reviews the market and analyzes the stocks that are in play and likely to have second-day moves. Steve discusses the potential trading setups in NUS. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 18 years. His email address is: sspencer@smbcap.com. Steven Spencer is currently long ADBE, DDD, LEN, TWTR, GM, PLUG, FB, CROX, CIEN, HLF, NUS and short BBBY Learn the skills necessary to identify and manage Read more [...]


The Luckiest Trade Ever

Mar 23rd, 2014 | By | Category: Steven Spencer (Steve's) Blogs, Trading Theory
It was Spring 1997 and I walked into the lobby at 60 Broad Street to head to my firm's trading floor. As I entered the elevator the firm's head trader commented to me "hope you aren't long Intel". I responded that in fact I was short Intel and a few other technology stocks that had behaved weakly the prior trading day. At first he was taken aback and seemed not to believe that I was short. To put this conversation in context the time period from 1995-1996 was bullish for technology stocks. The first Internet stocks were becoming public and the PC market was experiencing a period of rapid expansion. So the idea that a trader would Read more [...]


The Blowup: Game, Set, Match!

Mar 17th, 2014 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trader Development
Recently, I have been thinking a lot about the "blowup". In trading it is the term used to describe a catastrophic loss suffered by a trader or a firm. The blowup generally lurks in a remote corner of my consciousness, ready to be pulled to the forefront at a moment's notice in service of proper risk management. Perhaps this past week, which marked my 18th anniversary in the market as a professional trader, has caused me to be more reflective on my own longevity and to think back on a few of the "near misses" that could have cut my career short. So I will offer some stories, two old and one new, as I think they provide some food Read more [...]


Trading Lesson: Establishing A Trading Range—$PLUG

Mar 13th, 2014 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson
Often I receive questions regarding how I determine important price points for establishing trades. It is a combination of several factors each time but by far the heaviest weight is given to recent support and resistance levels. You would be surprised at how often after I make a trade I'll receive a comment like "you shorted at the 66.3% fib retracement" or "you got in at the 20 period exponential" something or other. Nope! Or at least that is not how I found my level. It just so happens that important S/R levels seem to match up quite often with many of the more commonly or uncommonly used technically derived levels. Here is Read more [...]


Trade Commentary: Is Ciena in the Early Stages of a Bigger Move?

Feb 14th, 2014 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Ideas
In this short clip from Friday's AM Meeting I discuss why I'm looking to build a long position in CIEN. Being on the lookout for stocks that have enormous longer term upside are what helped me focus fairly early on FSLR, GMCR, NFLX in late 2012 and CREE in 2013. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 17 years. His email address is sspencer@smbcap.com. Steven Spencer is long CIEN Read more [...]


Trading Lesson: Why Short on a Large Gap Down? $RAX

Feb 11th, 2014 | By | Category: SMB on TV, Steven Spencer (Steve's) Blogs
In this video I explain why 37 was a good risk/reward short trade in RAX today. The conversation took place during our AM Meeting in which I prepare our traders and subscribers to trade the Open. Less than 50 spots remain for a 14 Day FREE Trial to all of our trading and mentoring tools. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 17 years. His email address is: sspencer@smbcap.com. Steven Spencer is currently long RAX, ADBE, BLOX, CROX, SBUX, SWKS, WFM, YHOO Read more [...]


Trading Lesson: When Price Action Confirms A Trading Thesis

Feb 10th, 2014 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson, Trading Theory
In this video I discuss a fairly common trading pattern that occurs when a stock in a long term down trend gaps lower. The discussion is from our AM Meeting where I prepare the desk to trade each day prior to the Open. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 17 years. His email address is: sspencer@smbcap.com. No relevant positions For the first time ever SMB U is offering all of our trading & mentoring tools free for two weeks. The trial hit capacity in under 24 hours but we are Read more [...]