I noticed that the first blog I wrote on GS from a few days ago received a few comments/questions. Let me share a bit more of my analysis on why I was interested in trading GS the day following earnings and specifically how I selected possible entry points for trades. GS is one of the most difficult market leaders to … Read More
The Best A Set Up for this Market (An Example- AMLN)
Last week SMB visited the selfless trading conference held by Tickerville. My call was to share an A set up. A set ups are our favorite trades. We have A trades, B trades and C trades. With an A set up we trade a stock with more size, hold longer, and perhaps set a larger stop. We put on 30 percent … Read More
Q&A With Mike Bellafiore and The Kirk Report
Charles from The Kirk Report interview Mike Bellafiore.
Why I Lost Money In GS
Yesterday I traded GS. It was a second day play following their earnings release on Tuesday. GS has been showing signs of life recently, and after observing Tuesday’s price action I was fairly confident it could trade up to 160. And perhaps over the next two weeks up to 170. We discussed GS in the AM Meeting and I clearly … Read More
Morning thoughts for October 20, 2010
Yesterday’s strong down close violated the recent uptrend I highlighted yesterday and brought the market into an important support area. Technically, the market was certainly overbought and primed for a pullback, so this move should come as no surprise to anyone. We would normally expect some downside followthrough after such a weak close, but it is important to realize that … Read More
Morning thoughts for October 19, 2010
Good morning traders. Markets sold off yesterday in the afterhours session on the backs of disappointments from IBM and AAPL. In the near term I am going to be watching the trend lines for both the QQQQ and the SPY as my line in the sand. Breaking and holding under 50.70 in the Q’s should lead to 49.50. Breaking 116.72 … Read More
A Missed Opportunity
A quick note on an error I made this morning in our AM Meeting. We begin the meeting with an overview of the market and then discuss stocks with fresh news. During earnings season there are a ton of stocks with fresh news so I try to limit it to five names. Stock number six on my list was MMR. … Read More
Morning Thoughts for October 18, 2010
Good morning traders, we have a quiet morning with the major indexes flat to up small premarket. Focusing on the SPY, the market is in a clear uptrend making higher lows and higher highs. Until this changes there is no reason fight the trend in the market. Intraday I am focusing of trading specific stocks in play as these are … Read More