As a desk we have transitioned into focusing on Trades2Hold due to different market conditions. Scalping has diminished. C trades deemphasized. We wait for our best set ups and execute. But then Obama entered the arena looking for a fight with the Banks. Things got ugly. And as traders we need to adjust again. Back in the Fall of 08 … Read More
A Missed Entry
All experienced traders understand the importance of a proper entry. Opening a position at the right price is usually the difference between a large chop and a small loss. Just ask Dov Bar about his first three entries in GS today. All small rips because the entries weren’t that great (he might say different). When he got a great entry … Read More
Last Week’s Top Posts
Steve examines Google’s (GOOG) recent interaction with China and the consequences of those actions on the market, Steve Discusses Apple’s (AAPL) latest levels, Gman’s interview with Tim Bourquin, A discussion of Dov’s great SEED call out, and Steve was on Stocktwits.tv
A Bigger Move For AAPL Tomorrow?
AAPL has treated me fairly well the past two days. Yesterday it dropped to my dream buy price of 204. I was able to capture the move back up to 209. This morning I tweeted our best AM Idea was to buy AAPL on a pullback to the 209 level. Many traders on the desk took advantage of this opportunity. … Read More
Market Leaders Bounce Off Key Levels
This morning we saw some pretty heavy selling pressure for the third consecutive day. We then saw some of the leaders bounce from very important prices.
“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
SMB Morning Rundown for January 7, 2010
Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 113.50 (inflection point), 113.15(sup) and 114.00(res). Our best AM Idea for today, which we highlighted in our AM Meeting is to buy BBBY as long as it holding above 42.00. Tgt 43.00. However, if it starts holding below 42.00, we will flip … Read More
SMB Morning Rundown for January 6, 2010
Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 113.05(sup) and 113.70(res). Below 113.05, the next support level is 112.80. Above 113.70, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy XOM close to 69.35. Tgts: 70.00, 70.80 … Read More