In this video Steve discusses BIDU’s price action from the first week of August and several good risk/reward trading opportunities. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 17 years. His email is [email protected]. He is currently long BIDU.
The Thoughts of a Professional Trader (BIDU)
Here was my thought process in BIDU today. 1. BIDU is below the important Premarket support so I am looking for an Opening Drive to the downside. I feel very smart after the 3 point downmove. 2. BIDU bounces after it fills the gap but I find an area of intraday R. I feel very smart after finding this level … Read More
SMB Trade of the Week: BIDU
Watch SMB Trade of the Week, a Long Term Technical Resistance Level in BIDU.
I Want to Be in this Trade!
Today trading BIDU I made two trades that are very different. One was a trade with which I had supreme confidence. The other was a good trade that probably would work but I wasn’t sure. One was an A trade. The other wasn’t. One can make my month. The other can cause heartache, like that girl who just isn’t available. … Read More
Important Intraday Resistance Level Trade (BIDU)
BIDU came off from 73.30ish after a gap open. 72.50 offered resistance on the tape. I started a small short. BIDU came off another point. But then things got even more interesting……. 72.50 was a level that we spotted on the tape. And BIDU traded off another point from this weakness and resistance level we spotted on the tape. But … Read More
“Don’t Be Evil” For Real?
I have to admit that I’ve always been a big admirer of GOOG as a company over the years. I loved it when they told the establishment on Wall Street to f***** off when they did their IPO in a “dutch auction” style. I admire the fact that they push for open systems to the greatest extent possible. And from … Read More