IBM drove on the open after gapping up. At 52 week highs if you did not pay right on the open you were left to watch a 2 point upmove. I am sure many passed on the first ticks opening drive play. Flagging at 180.50 offered our easiest trade which I am sure many did not miss. At 52 week … Read More
SMB Morning Rundown for July 19, 2011
Market broke below SPY 130.70 ystdy but rallied in afternoon. big companies now reporting earnings and having positive reactions. if we get above 131.50 today and hold i am very focused on being long with next major resistance at 132.75. The best AM idea is MOS with 68 as the inflection point.
Trading Thought of the Day – July 19, 2011
Nothing in this world can take the place of persistence. Talent will not, nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated failures. Persistence and determination alone are omnipotent. – Calvin Coolidge
Trading Thought of the Day – July 18, 2011
A stock that trades poorly on the open may get better midday. – Bella
Focus on the Method Not the Money
Monday, July 18th 2011 Watch an interview with Mike Bellafiore and the MoneyShow.com from the past Traders Expo in Dallas. Mike Bellafiore discusses how traders should be fixated on their methods rather than their P&L. View the video here
AAPL “unpins” at 3pm on Friday–problem or opportunity?
Options tribe member Craig Wassenberg and I were corresponding as usual last Friday as the July monthly options expiration day had arrived. I asked Craig what he was watching and his reply was not surprising–many of the usual suspects including GOOG, AAPL and BIDU. Craig was concerned about trading GOOG, given its monster reaction to last week’s earnings–not the safest environment … Read More
SMB Morning Rundown for July 18, 2011
Market gapping down this morning prmkt. we have already touched the130.70 support and had a small retracement. the real earnings season starts this week with BIDU and IBM reporting after the close today. we will have a greater understanding of psych of mkt as earnings role out this week. remember that earlier this month it seemed like we would break … Read More
SMB Morning Rundown – July 15, 2011
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.