On Friday I sat on a panel at StockTwits Camp at the NASDAQ MarketSite to discuss Reading the Tape. I was joined on the panel by @tickerville, @stevenplace and @howardlindzon. Here are my ten observations from Friday: 1 ) @stevenplace is GINORMOUS. 2 ) @tickerville is so smooth he could replace Brian Williams on NBC at any moment. 3 ) @howardlindzon has … Read More
Wow, That Was Some Bad Trading!
This morning I highlighted AIG in our Stocks In Play call before the Open. I discussed a great short entry based on the premarket price action. AIG had been trending down for over a week since it failed above 50. In today’s premarket it was below 39.80 which was the price it rallied from on September 21st. In the premarket … Read More
Good on Paper (GOP): Be Respectful
I just handed in my manuscript for One Good Trade to Wiley. I am relieved to have this behind me. During my editing process I discarded some humorous anecdotes that just did not quite fit with my book. I thought you might enjoy this one interview I had with a prospective prop trader candidate. GOP: Be Respectful This next interview occurred … Read More
Reading the Tape with Gman: How to Use Levels to Win
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