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
What is Your Mission Statement?
I had the privilege to visit a prestigious US hedge fund this week. I just cannot shake this one image. We, 4 of us from SMB, arrive from NYC in Greenwich in my family SUV. You pass the private airport so close to Westchester and Southern, CT . The four of us joke about the SMB private jet, that can take you … Read More
Is There Power in Negative Thinking?
Is it productive to think negatively as a trader? Bobby Knight, National Collegiate Hall of Fame coach, thinks so. Coach Bobby Knight says that when he first started coaching one of the worst things he would hear was “It will be O.K.” Not only that, Knight says, as he did in a recent New York Times interview, that “the worst … Read More
What do you do when your strategies stop working?
Hello Mike, I have an interesting question for you. Its about the life cycle of a trade set up. I’ve realized that like businesses trading setups are also cyclical. There will be periods where the set up produces an edge, and there will be periods when the set up is not producing an edge. Does this mean the setup no longer … Read More