A lot of the work in trading is just sitting and watching. Yesterday the market was absolutely dead into the close. The S&P futures sat tightly in a 3 handle range. At 3:45 EST, $MCP appeared towards the bottom of the Price Spike list of the SMB Radar. This was unusual because it hadn’t been on the list the entire … Read More
SMB Morning Rundown for July 22, 2011
Market has moved up quite a bit this week. We are due for a pullback so want to be cautious unless we can hold above 134.80. below 134.35 be cautious until we test the 133.90-134 area. Best AM Idea: Long SNDK on pull back to 43 level
The First Step to Trading Success
MICHAEL BELLAFIORE Becoming familiar with a chart pattern is step one, says Mike Bellafiore, but from there, traders continue on a journey where they must always learn, adjust, and strive to hone their craft. Bella One Good Trade
Trading Thought of the Day – July 21, 2011
It is not how much money you made in a play that is most important. It is how well you traded it for your style. – Bella
SMB Morning Rundown for July 21, 2011
Yesterday earning season continued as stocks reacted in a mixed manner. Looking for market to hold the 133.00 key support level for a push higher for the follow-through from the action on yesterday and Tuesday. Our attention will be focused on PEP, LVS, STX, and RVBD. Our morning idea is RVBD as we’re looking for a continuation as it needs … Read More
Good Teamwork. Now Time To Focus.
Bella and I had a short conversation after the Open. He mentioned that a bunch of traders got into ECL on the short side and had made some nice chops. My mentee Sammy mentioned the trade to me as well. He said one of the traders in his row called it out and he took the trade blindly with a … Read More
Why I was leaning short (RVBD)
RVBD opened and held the 32 bid after gapping down miserably on the open. It popped almost two points from 32 and then was dominated by an aggressive seller(s). As RVBD made a pass at the 32 level from where it popped on the Open I got long again. This is one of our favorite technical set ups. But when … Read More
Should you trade high-profile IPOs?
Wednesday, July 20th 2011 Watch an interview with Mike Bellafiore and the MoneyShow.com from the past Traders Expo in Dallas. Mike discusses that such IPOs typically present good set-ups only for short-term momentum traders. All others, use caution. View the video here