I received a very good analysis of a trader’s HPQ trading after the close. Let’s take a look and then discuss. HPQ – Considering I was in the opening drive, I definitely should have made money in HPQ today. After fees/etc. I’m sure I was down in it. I bought some (but not enough) above the 24.30-35 area. I got … Read More
SMB Radar Update – Low IPR Day
IPRs are hanging low today. $SPY at a 1.0 reading tells us that the general market is not In Play. This means breakouts with follow through are low probability in the $SPY and highly correlated stocks. As of now only 2 stocks in our universe are trading with a > 3.00 reading. I’ll be watching the Price Spike for opportunity … Read More
And the Probability Is….?
Intraday trading is not about predictions or fulfilling your need to be right. It’s simply about finding spots to trade that offer high probability risk to reward. Most aspiring traders take this thought and run to the charts. They will search and study until they find a pattern or play that seems to repeat with a predictable outcome. They will … Read More
Avoid The Slop And Make A Chop!
Please use the below chart to assist you in trading the market today. The no trade zone doesn’t mean you can’t have a position. It just means that initiating positions in market stocks in the middle of the zone are low probability trades where you will most likely get chopped to death! Look to trade breaks outside of the zone … Read More
Free Options Webinar: SMB’s Options Tribe August 23, 2011 at 5pm EDT: Iron Condors
Tuesday August 23, 2011 at 5:00 pm Eastern Daylight Time SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by outstanding veteran options traders and experts in the world of options … Read More
Find an ATM and Use It!!
Do you have a stock that due to both technical and fundamental reasons has traded in pretty much one direction for weeks or months? I do…for the last few months it’s RIMM. I have RIMM on my screen everyday and I know exactly how it feels, moves and reacts. I play it virtually every day and use it like my … Read More
New SPY Inflection Point
I must be crazy writing a blog post as I begin my vacation in Nantucket Ma. But I have something I want to highlight that relates to a webinar I gave earlier this month. The topic of the webinar was multi-day inflection points. Identifying these levels and using them as the focal point for various trading plays. On Thursday August … Read More
SMB Radar Update for August 16, 2011
These are today’s top stocks on the In Play column on the SMB Radar. This is the most important function of the scanner. The Radar uses a number of proprietary algorithms on a prescreened universe of stocks and processes every tick in search of finding stocks that are In Play. These stocks have unusually high order flow that indicates heavy … Read More