WFMI was In Play today. It gapped down in the premarket on disappointing earnings results. My first instinct was to look for a good level to get short as WFMI usually follows through on the direction of its gaps. I had a downside target of 27 based on a longer term level. What I needed was a safe entry point. … Read More
Sharing Information
When we started SMB Capital not even four years ago we set out to do four things: 1) provide the best intraday training on the Street. 2) offer a payout that was fairer than I had received to our traders. 3) create a culture of perpetual learning, where we all learned from each other. 4) share valuable trading information. Many … Read More
Taking Advantage of Choppy Fed Day Trading
Every time Bernanke and the Feds are set to make a rate announcement, we have a brief meeting within our firm to discussing how we are going to trade. Whereas last fall we saw some huge directional moves on rate decisions, on several of the recent Fed days we’ve experienced extremely choppy action. The market will appear to be breaking … Read More
WoW!!
Occasionally, I give a shout out to one of the less experienced traders on the desk for sharing great trading information. I am definitely not the type of person who offers faint praise. In fact, if you talk to those who are closest to me they probably would say that I am somewhat parsimonious with my compliments. So when I … Read More
Managing Your Position
There are many facets to being a successful trader. One element that tends to be neglected by aspiring traders is the concept of position management. Position management is a combination of observation and action. A trader must observe the price action in both the market and their stock to determine whether or not to take action on an open position … Read More
Give V a Chance
As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. Been there. Totally understand. I am with you. Today in V if you did not give it a chance to run then this was a spot on example. Today was a day to give V a chance. I traded V in the afterhours … Read More
SMB in TheStreet.com – Western Digital Posts Banner Quarter
Mike Bellafiore, partner at SMB Capital, was cited today in an article on TheStreet.com about the weakness in WDC. You can read the full article here. Don’t forget to follow us on Twitter!
Reading the Tape: Gman Instructs Using A Real Trade (Video)
Gman, head trader at SMB Capital, shared some of his trading tape on Wall Street Cheat Sheet to show how he uses his tape reading skills to enter into positions and determine whether a stock is strong or weak.