NFLX had a very powerful downtrend the prior day when it broke the March 28th support of 188.70. I was continuing to monitor it for a break of the 180-179 area. I missed the initial short entry on the Open when it held below 182. As luck would have it I returned to the desk just as NFLX was spiking … Read More
Did My Exit Make Sense?
Yesterday I had an alert set for BIIB at 192 as it was support into the Close the previous trading day. In stocks that are in strong uptrends I like to buy at this price level if I see support on the tape. After pulling back to 192 BIIB moved sideways for over an hour moving above and below this … Read More
Why I Tweeted HUM was a Short
Today during the trading session I tweeted on StockTwits about an excellent $HUM short opportunity, as you can see below. The funny part about these tweets, and I will let you do the research, is I was called out for these short tweet ideas by a few. My response to this now is the same as it was in real-time: … Read More
Why EBAY was a Buy
Today in our SMB Real-Time I chatted that I liked the EBAY setup. It had formed an intraday bull flag. I started asking traders around me if they were in it, which is my way of hinting perhaps they should be. A few were. I asked a few of the guys how big they were. This is my way of … Read More
The Entitled Trader
Peter Shankman, founder of HARO, wrote an interesting post today on the poison of entitlement. There is nothing worse than entitlement. It reeks of caustic, old-way-of-doing-things attitude. It screams “Don’t you know who I am?” And nothing, absolutely nothing, can ruin your chances faster, both in life or in business. This is a great lesson for us as traders. You … Read More
Are You a Pro or Piker?
There never was a moment, and never will be, when we are without the power to alter our destiny. I spent most of Easter immensely enjoying The War of Art by Steven Pressfield. For traders there is a wonderful section from which we can learn that defines the difference between being a professional and an amateur. We might say at … Read More
Four Ways To Get Your Trading Ready For the Summer
In most parts of the US and Europe, this winter has been positively arctic. Record snowfall, freezing temperatures and howling wind. It can be a downer, even for the hardiest of souls. Even then, most traders are in the office, focused on their screens and their results and not paying any attention to the weather. Summer may seem like the … Read More
Spencer Trade Review: Second-Day Plays for $FDX $ORCL $BIIB
In this video Steve discusses stocks with strong catalysts that can lead to high reward low risk second day plays. Stocks covered in the video include FDX, ORCL, BIIB and PCYC. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 17 years. His email is [email protected]. No relevant positions