Today, the Market appears set to open virtually unchanged from the Close on Friday. The levels we are watching in the SPY today are 110.50 for resistance and 109.00 for support. If the SPY starts holding below 108.80, we expect a move down to 108.00. Our best AM Idea for today, which we highlighted in our AM Meeting is to … Read More
Reflections on Black Friday: Market Psychology
At 5:15 AM I awoke Eastern Standard Albany Time. I was in Albany, New York about to take a borrowed car to the Amtrak train station to the subway to my office trek. Door to door it took me just under four hours. I was the only one awake on Amtrak from Albany to Penn Station as I was preparing … Read More
Black Friday Close
Into this Black Friday Close today we are paying special attention to some key levels in SPY: 110 is our biggest intraday level. below 109.75 I will lean short. We are watching the market leaders: AAPL (winner Best Intraday Stock for today), AMZN, GS, POT, JPM. And now we just started watching SEED as a momentum stock (above 11.31 is … Read More
Morning Recap
Normally during a strong market we look for a bounce with such a large gap. Circumstances are a little different this time as Asia has sold off hard for two days and we need to play catch up. I’m still a buyer at key support outlined below. Especially in the stocks that have been strongest recently such as AMZN, FCX, … Read More
Holiday Interruptus!
It looks like holiday interruptus for the traders at SMB. The financial/real estate bubble that is better known as Dubai has burst like a Macy’s Thanksgiving Day Parade balloon. As I write this quick note the Hang Seng is down about 550 points but 200 points off its low. The S&P futures are off 23 and the NAS 100 futures … Read More
Turkey, Stuffing, and Genetically Modified Chinese Corn
Sometimes you are only as good as the stocks you are trading. While having the skills to mange risk and maneuver in and out of positions are of great value, stock selection is definitely one of the keys to success for any trader. As we approach the Thanksgiving holiday, and many traders get distracted by thoughts of turkey and wine, … Read More
SMB Morning Rundown for November 25, 2009
Today, the Market appears set to open higher after a a number of positive economic reports were released. Pre-Market, the SPY failed at the recent 111.60 resistance level. The levels we are watching in the SPY today are 111.60 for resistance and 110.80 for support. Below 110.80, we expect a move down to 110.50. Below 110.50, the next support level … Read More
Focus on The Fundamentals
Wouldn’t it be great if every day you could turn on your trading platform at 9:25AM, quickly type up a few stocks, and then start trading the Open? Woudn’t it be great if every day you could buy/short 5,000 shares at some great technical level and cash out for 10K by 10:00AM? Wouldn’t it be great if the stocks you … Read More