Good morning traders. As I wrote in my morning note for Waverly Advisors: “Though yesterday’s price action in the US Equities markets does not appear to be constructive for the bulls, it is important to consider the context of this move. The S&P 500 (chart above) shows what appears to be a classic failure above resistance, but smaller market cap … Read More
You Gotta Have A “Plan B”
Each morning we hold an AM Meeting at SMB to discuss the Stocks In Play as well as the bigger picture including global markets, unusual activity in commodities, and the US markets via the SPY. If a particular type of “day structure” is likely to occur that will be discussed as well. This morning with global markets humming and the … Read More
Traders Ask: What Was Your Thought Process In LVS?
Hi Steve, I am interested in learning your thought process behind trading LVS on 12/02. Do you mind writing a post on it? Thanks, AZ Here you go: Before I break down the various trades that I thought offered good risk/reward on December 2nd for LVS I would like to discuss December 1st. LVS gapped higher on 12/1 with the … Read More
Can a Smaller Stop Carry More Risk Than a Large Stop?
Thinking about stops in terms of probability and expected values.
Scottsdale Trader Meetup
Join Mike Bellafiore and the Scottsdale Traders and Investors Meetup Group, the largest and longest surviving active traders group in the Phoenix area on December 14th. Mike will be speaking with the Traders on the following: The trading fundamentals of One Good Trade from inside One Good Trade. How our prop firm makes trading decisions based on Intraday Fundamentals, Technical … Read More
Follow The Leader
As many of you know, I have been watching FCX as a market tell for some time now. Its’ chart is permanently on my screens as it has been an increasingly important market leader in the past few weeks. Going into today’s session I was watching FCX 96 and SPY 117.60 as my lines in the sand for the market. … Read More
Attack Your Trading Challenges Like a Navy Seal
Trading offers us so much opportunity for I can’t. Or this is too hard. Many thirst to be a consistently profitable trader but never build the skills to do so. It all starts with you. With your attitude. With your skill to build your trading mindset. So we want to get better. How do we do this? How do we … Read More
Morning Thoughts on November 29, 2010
Good morning traders, market unchanged has us opening near the lower bounds of the last two week’s trading range. This week I am going to be watching to see how we react with the SPY 50 day moving avg. This avg. is used by larger market participants as a place to add to positions. Besides this price as my ‘line … Read More