The market has really beat the crap out of RIMM the past week or so. 86 to 68 without a significant intraday bounce. That is the definition of short term oversold. So today in our AM Meeting we discussed the possibility of a bounce. We were focused on a couple of key levels from the prior trading day. We noticed … Read More
SMB on StockTwits
Mike Bellafiore and Steven Spencer, partners at SMB Capital, appeared today with StockTwits founder Howard Lindzon on StockTwits TV. In the interview, they discuss the history of SMB Capital, characteristics of a successful prop trader, and the role of technology in training and communicating with traders. Watch the clip here and feel free to leave your comments on this blog. … Read More
US Open Flu?
I have missed the past two trading days because of the flu. I know what some of your are thinking. Hmmm. Bella loves watching golf. And he is always blogging about how much he loves that Phil Mickelson. And Phil made a run at the Open today. The US Open was just in Bethpage. Was this the US Open Flu? … Read More
The Week That Was: June 15 – 21, 2009
The SPY was finally a little weaker this week, as the range moved down slightly, starting the week at 94, moving down to 91, and closing at 92. This coming week, the levels I will look at are 93 as resistance, and 90 as support. Some of this week’s links: An interesting look at the possible moves the Fed will … Read More
From the Mailbag – Part 3
I received this question the other day and thought we could discuss it. Ok so here goes… Rusmin Says: Friday, June 19th, 2009 at 3:24 am I want to ask you a question. But before I ask you that, I want to tell you something. I had a similar day where i took a huge rip. I f**ked up fifteen … Read More
Slowing Down Your Game
So I wrote a post yesterday about a memorable rip I took for my lack of focus. I appreciate the posts by our readers which demonstrated that some good came out of my rip, a lesson shared. I was thinking of titling this post, “And then the Sun Came Up”, but as I tweeted today it has rained everyday … Read More
Market Commentary from JToma
It seems that the market has finally begun to take a direction after trading in a range for about two weeks. Monday started a sharp sell off in SPY, opening at 94 and closing below the key 93 support level. Today we saw SPY briefly trade above 93 but quickly sell off to close the day at 91.66, breaking all … Read More
Letting the Play Unfold
We started a down trend in the last couple days and as long as SPY is below 93.60, I will try and stay short. It is not hard to make money as an intra-day trader during these type of market days. The key I am finding with my trading lately is that I have to let the play unfold. Lately, … Read More