Trade Review: Buying SPY & IWM pull backs

sspencerGeneral Comments, Steven Spencer (Steve's) Blogs, Technical Plays, Trading Lesson

Thursday March 10th was a day many traders had circled on their calendars. Often the greatest short term trading opportunities will occur on days where major economic news is announced. The monthly jobs number, quarterly GDP, FED rate decisions and ECB monetary policy fall into this category. Thursday the ECB was set to announce what steps it was planning to … Read More

TICK TICK TICK tools at this trader dinner

BellaGeneral Comments5 Comments

Last night our trading desk grabbed some Mexican and beers with our top traders for dinner.  Generally we trade stocks with a news catalyst (we say Stocks In Play), but recently we have been focusing on market trades.  SPY, UVXY, DWTI, OIH, SCO are products of interest. Many would assume these traders would sit around predicting the bottom in oil, … Read More

My Thought Process– $SPY

sspencerGeneral Comments, Steven Spencer (Steve's) BlogsLeave a Comment

In three trading days we moved from a range bound low volatility market to an environment of fear and chatter of market collapses. It is more difficult to predict price patterns when extreme volatility and fear are in play versus when the market is more subdued and market participants actions can be more easily anticipated. As traders we move into a “move to move” mentality … Read More

One Mistake Your Broker is Glad You’re Making

Andrew FaldeSMB Options, Trading Ideas, Trading LessonLeave a Comment

A common mistake that new and developing traders make in the options market is to trade strategies that involve high commissions relative to the earning potential. We often see newer options traders applying great options strategies to the wrong instruments. Option trading strategies that involve frequent management to control risk can be commission intensive. This is especially true if you’re … Read More

Today’s Trading Highlights

smbcapitalTrading LessonLeave a Comment

Here are some quick highlights from today’s trading. In the AM meeting, Steve talked about the 208 resistance level that $SPY had failed to hold above numerous times. This was a level to be short from. With the overnight session looking calm and almost strong, this flew in the face of price action at the moment. The level held once again … Read More