Gman, head trader at SMB Capital, wrote an excellent article for Wall Street Cheat Sheet about using tape reading skills to identify and take advantage of key intraday and longer term levels. You can read the full article here.
SMB in TheStreet.com – DryShips: Shipping Winners & Losers
Mike Bellafiore, partner at SMB Capital, was cited yesterday in an article on TheStreet.com about the weakness in DRYS. You can read the full article here. Don’t forget to follow us on Twitter!
Getting Rewarded for Doing the Wrong Stuff
We teach our traders how to trade while taking little risk in the marketplace. We teach them the fundamentals and then allow each trader to develop a trading style that suits their personality. Further, we give each trader the freedom to trade whatever stock happens to be in play and in a fashion that suits their style. Unfortunately, this allows … Read More
Premarket Volume a Tell- DNDN
Last night I went out long DNDN. At 8:30 AM I was down a cool $80 on my position. Not exactly something for which to put down my breakfast Cliff protein bar. DNDN had cleared an important resistance level on Thursday at 27.50. It closed still in an intraday uptrend and 80c from its intraday high at 28.75. Stocks like … Read More
The Little Things
LVS has been on SMB’s radar for the past couple of weeks. It made a nice run from 15 to 20. Yesterday, it showed signs that it was going to give back some of its recent gains. It sold off hard from 20 to 18.50. Gman, our head trader, was short it for most of the afternoon. He identified some … Read More
Learning Order Flow and Tape Reading – TraderFeed
Dr. Brett Steenbarger, respected market psychologist, recently wrote on TraderFeed about the importance of Reading the Tape for short-term traders. In his post, he says that “Reading the tape is key to getting in and out at good prices.” And, “For experienced tape readers, knowing prices where large orders have come into and out of the market can also be … Read More
Setting a Goal for the Day
Recently I received this question from Reader Stephen: I am 53 yo guy been trading for 30+ years. I love your videos and your traders that give intraday information, I have a simple question. What is an example of Goal for the day? I have enclosed an example of my monthly goals which I do daily to keep me focused. … Read More
In Search of Consistency
One of the greatest hurdles a new trader faces is that of consistency. Consistency on SMB’s desk is defined as being profitable a minimum of 80 percent of the trading days each month. The majority of our desk achieved this level of consistency in the month of August. This was mainly a result of the opportunities in the leveraged financial … Read More