After yesterday’s hard sell off into the close I was expecting some follow through to the downside. We did have some nice downside momentum this morning through the 108 level of the SPYs but by 11:00AM we were flat for the day and in consolidation mode. The price action was much different than last time we had a major down … Read More
Vegas Baby, Vegas!
The traders expo in Las Vegas is just another great excuse to visit Sin City and it is just around the corner (Nov 18-21st). We would like to continue adding value to your trading while there and we need another excuse to go have some fun. Rather than doing a booth setup advertising our training products we are interested in … Read More
Making Intraday Trading Decisions
I am frequently amazed at how many people think intraday trading is all about Reading the Tape. I am more amazed at meeting too many who believe trading is all about reading some pretty charts. And I am also surprised at how few intraday traders embrace intraday fundamentals. Well that is a lot to be surprised about. When I make … Read More
SMB in TheStreet.com – Harley-Davidson Profit Drops; Stock Pops
Steve Spencer, partner at SMB Capital, was cited yesterday in an article on TheStreet.com about the strength in HOG. You can read the full article here. Don’t forget to follow us on Twitter!
Got Ran Over for Being a Stubborn Monkey
Today I made I mistake I rarely make – I let my bias take over my trading. I came in with a small overnight short in MGM and in AIG. Both showed huge relative weakness yesterday and both were working great in premarket with the gap down. The plan was simple, I would add to the positions once below important … Read More
Choosing a Book Title
I am now at the end of the process for my trading book with Wiley. My book discusses why traders fail and succeed as prop traders. It offers an inside looking into the highly competitive world of proprietary trading. I share what the market has taught me over the past twelve years. I introduce characters, traders some who have … Read More
Mike Bellafiore Live Chat With The Kirk Report
Mike Bellafiore, partner at SMB Capital, and trading author, chatted live today with Charles Kirk from The Kirk Report. Mike discussed many different aspects of trading and also answered several questions from readers. Click here to replay the chat.
What Do You Learn From Your Trading Journal?
GMan and I revamped our trading journals and the SMB trading journal on a 9 1/2 hour car ride home from the Outerbanks. And this has helped. For me my trading journal helps me to focus on my monthly and daily trading goals. I start each morning writing down my goal for the day. So my day is just a … Read More