Last night one our traders Senor Social Media fired off a question about the blog I wrote. “Bella I thought you mentioned that CEPH was a long at 54.50 on the trading floor?” It was. The trade I outlined in my blog was an A trade. There were many other trades that I did not discuss in last night’s blog … Read More
SMB Morning Rundown for November 24, 2009
Today, the Market appears set to open slightly higher. The levels we are watching in the SPY are 110.70 for support and 111.60 for resistance. If we start holding above 111.60, we could see SPY 112+. If we start holding below 110.70, the next major support level is SPY 110.00. Our best AM Idea for today, which we highlighted in … Read More
Making Adjustments
As traders, it is our job to adapt to changing markets. No strategy or system works forever. And while there are certain trading fundamentals that will always be relevant (i.e., discipline, patience, proper preparation), we always to need to be cultivating our edge and looking for new ways to make money. Below is a quick rundown of three shifts I’m … Read More
SMB Setup for the Close for November 23, 2009
Today, the Market sold off for most of the day after a strong drive on the Open. In the afternoon, the Market touched the Opening lows and had a modest bounce. Into the Close we don’t expect a big move, but if the SPY hold above 111.10, we could see a move to 111.35-111.50. If the SPY take out the … Read More
SMB Morning Rundown for November 23, 2009
Today, the Market appears set to open higher after comments over the weekend from Chicago Fed Evans that interest rates will probably remain near zero into 2010. The weakness in the dollar is helping push gold to new highs, and also the catalyst for the strength in other commodities. The levels we are watching in the SPY are 110.50 (inflection) … Read More
SMB Setup for the Close for November 20, 2009
Today, the Market touched SPY 109 in the middle of the day the before making a modest attempt to rally later in the day. Into the Close we don’t expect a big move in the Market as the volume in fairly light. We are watching SPY 109.70 for resistance and 109 for support. Our best idea into the Close is … Read More
SMB Morning Rundown for November 20, 2009
Today, the Market appears set to open lower, continuing the weakness from yesterday. Overseas markets were down, adding to the pre-market weakness in the US. Commodities are also weighing on the Market due to strength in the dollar. The levels we are watching in the SPY are 109.60 for resistance on the upside and 108.80 for support on the downside. … Read More
Pamela Anderson Could Make This Trade
I was involved in quite a few stocks this morning. Alerts were popping up left and right as the market was selling off. Part of my job as a trader is to quickly decide if an alert is important enough for me to stop watching my primary trading stock. At 9:51AM I received an alert that FCX had touched 82.54. … Read More