The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
SMB Morning Rundown – January 11, 2010
Today, the Market appears set to open higher. The levels we are watching in the SPY are 114.50(sup) and 115.12(res). Below 114.50 the next support level is 114.30. Above 115.12, we could see upside to 115.90. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy YGE if it holds above 18.60. Tgt: 19.70 … Read More
SMB Morning Rundown for January 8, 2010
Today the market is selling off a bit in the pre-market following a worse than expected jobs report. The key levels we are watching in the SPYs are 114, and 114.30 for Resistance, and 113.60 for support. Our best AM idea is UPS. Seeing lots of strength on upward guidance in the pre-market. Look for a hold above 60.
SMB Morning Rundown for January 7, 2010
Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 113.50 (inflection point), 113.15(sup) and 114.00(res). Our best AM Idea for today, which we highlighted in our AM Meeting is to buy BBBY as long as it holding above 42.00. Tgt 43.00. However, if it starts holding below 42.00, we will flip … Read More
Sell Before the Number
GMan and the desk was VERY long HAL going into the oil number at 10:30 AM. I would tell you how long but it was probably more long than we should have been. We were in a Trade2Hold and HAL was working. But then most on the desk did something very smart for the intraday trader. They lightened up before … Read More
SMB Morning Rundown for January 6, 2010
Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 113.05(sup) and 113.70(res). Below 113.05, the next support level is 112.80. Above 113.70, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy XOM close to 69.35. Tgts: 70.00, 70.80 … Read More
Still An Important Skill…
GOOG announced today that the Nexus 1, their new phone, would be carried on the Verizon network. RIMM started to trade lower. It was already on our radar as a short candidate below 66.50 and 66.20 based on its recent price action. We knew the next major support was not until 65 so it was game on for a short … Read More
SMB Morning Rundown for January 5, 2010
Today, the Market appears set to open virtually unchanged. The levels we are watching in the SPY are 113.10(sup) and 113.40(res). Below 113.10, the next support level is 112.80. Above 113.40, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 66.50. Tgts: 67.20, 68.00 … Read More