There are so many indicators one can use for technical analysis. If you spend some time with experienced traders many will tell you they use very few indicators to none. Hmm. The new and developing trader would be surprised at how clean most charts look for many successful traders. Steve uses very few indicators. Adam is a huge proponent of … Read More
If It’s In Play You Will Get Another Chance
As the market opened I made a couple of trades in the SPY. Both shorts. Neither worked. Then I caught a quick up move in TGT from 31 to 31.40. The stocks I was watching weren’t really doing much. So I looked to the monitor on my left, the one that has my SMB Radar lists and quickly scanned for … Read More
Why the market didn’t roar this week
Wednesday after the Close we brought our traders into our training room and started talking about a game plan above SPY 134. A profitable trader is first a prepared trader. The market was consolidating close to this level. Above and the market might run. Towards the conclusion of our meeting I asked all of our traders to send to each … Read More
Trading Thought of the Day – July 8, 2011
A passionate trader is not excited about the opening bell on Monday but rather that Sunday night of preparation. – Mike Bellafiore
SMB Morning Rundown – July 8, 2011
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
My End OF The Day Review
Here is a screen shot of the stocks I scroll through at the end of the day in the SMB Radar to look for great second day setups. Each list links to my charts so I am able to very quickly view patterns in different time frames and formulate trading ideas for the following days.
Traders Ask–When do you consider an intraday trend overextended?
Hi Steve, I just have a couple of question regarding trend trading: 1) When you see a stock that’s trending but has already much more than its average range (i use ATR), do you skip/pass on it or would you still be buying into pullbacks? Do you ever find yourself thinking, “Ok this stock is just way overextended from its … Read More
The Thoughts of a Professional Trader (OVTI)
Here are my thoughts trading OVTI on the Open 7/6/2001. 1. Opening Drive Play. OVTI gaps down with fresh news. During our SMB AM Meeting Steve mentioned OVTI starting to move that he found from the SMB Scanner. This is a very cool new tool which we built for our desk that shows the stocks we want to consider before the … Read More