I make trading decisions based on 3 factors: Tape (order flow), Technicals (trend, support, resistance) and Catalysts (News). The least understood of the three is the Tape. It is a skill that takes thousands of screen hours to develop. But once developed it is a skill that enhances the risk/reward of your trades and often enables you trade with larger … Read More
Are You an Overconfident Trader?
Hi Mike, I’ve been trading awhile and I’m certainly getting better at it. I’ve noticed a recurring problem. Whenever I get a good streak going and I start feeling like I’m getting the hang of it, I hit a losing streak. Sometimes it’s a week or two of gains everyday and then a slow meltdown to give it back. I … Read More
March 12th Gameplan Review
SMB Capital Stocks In Play Call Review. Each morning before the market opens we discuss the stocks that we believe will offer the best risk/reward trading opportunities intraday. Today’s review featured YOKU, ORCL, SODA, MCP,GMCR, FCX and AAPL PDF Summary Gameplan March 12th Steven Spencer is the co-founder of SMB Capital and SMB Training and has traded professionally for over … Read More
I Love Being Wrong–SODA
One of three In Play names discussed in today’s AM Meeting was SODA. It was gapping up to 36 which is a longer term resistance level. My initial thought was the news didn’t seem like a big deal and it would be a nice short on the Open against this level. As the market opened it traded a few cents … Read More
Free Webinar — Trading Large Gaps
The theme for Steve Spencer’s 2012 Webinar Series will be “Do The Right Thing”. On the second Webinar of the year, Steve will discuss Trading Large Gaps. Time: Monday, March 19th,2012 4:15PM-5:00PM Topics shall include: – The importance of pre-market prices and volume – How to use the “news” to develop a bias – When and how to use “the … Read More
Why I Traded MCP Today
My primary stock on the Open was GMCR. It is a classic momentum stock that had fresh news and a large pre-market gap. This type of setup is usually my #1 choice to trade on the Open if available. I have internalized the possible price patterns for this setup having traded it hundreds of times over the years. My second … Read More
Getting That One Good Trade
Mike Bellafiore, author of the “trading classic” One Good Trade, was mentioned in Straits Times during his trip to Singapore. To read the article click here: Getting That One Good Trade
AM Idea – March 9th 2012
Disclosure: Short: $GMCR, $AIG, $JPM, $P, $SPY Long: $HDY, $ZNGA