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
SMB Morning Rundown for January 5, 2010
Today, the Market appears set to open virtually unchanged. The levels we are watching in the SPY are 113.10(sup) and 113.40(res). Below 113.10, the next support level is 112.80. Above 113.40, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 66.50. Tgts: 67.20, 68.00 … Read More
RMBS Trades Busted
My short chop in RMBS got busted. Dov made the biggest chop on our desk and his profits were eliminated. NASDAQ put out this statement. Tough spot for NASDQ. I am the last person to complain about this stuff. The market is like the Wild West and I have come to accept this. Trade long enough and you will as … Read More
SMB Morning Rundown for January 4, 2010
Happy New Year! Today, the Market appears set to open higher, erasing all of the downmove into the Close on Thursday. The levels we are watching in the SPY are 112.10(sup) and 113(res). Below 112.10, the next support level is 111.40. Above 113, there are no clear resistance levels. Our best AM Idea for today, which we highlighted in our … Read More