We have identified 47.50 as an important level in LVS. Yesterday it leaked below this level and had a serious intraday downmove. Chop! SuperChop? Today 47.50 was again an important level. How did we find this level? On December 2 there was this news from briefing.com: Las Vegas Sands in 8-K filing discloses that Sands China’s application for a land … Read More
Reminder of the Scottsdale Trader Meetup
Join Mike Bellafiore and the Scottsdale Traders and Investors Meetup Group, the largest and longest surviving active traders group in the Phoenix area on December 14th. Mike will be speaking with the Traders on the following: The trading fundamentals of One Good Trade from inside One Good Trade. How our prop firm makes trading decisions based on Intraday Fundamentals, Technical … Read More
SMB Morning Rundown – December 9, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Morning thoughts 12/9/10
Good morning traders, The S&P 500 is still dealing with important resistance, which is not a clear level but a rough zone from 122 – 123.60 on the SPY. Though we are above that this morning, this is a large zone and we cannot expect a clean break. The Russell 2000 index (see IWM) is still potentially overextended and vulnerable … Read More
Global Markets Summit 2010
SMB’s Steve Spencer will be featured on the panel “The Future of Trading” at the Global Markets Summit in New York City at The Waldorf Astoria on Thursday December 9th. Leaders from exchanges, broker-dealers, alternative trading systems, investors and hedge funds will gather to represent their respective sectors and the markets as a whole. Topics debated will include the effects … Read More
The SMB SuperChop
47.50 is a huge level in LVS. On the Open it traded below there. I hit the bids. LVS found 45.60. Were you prepared to make a SuperChop? CELG announced new disappointing news about a drug. It gapped down, showed weakness on the open and dropped like a falling knife. Did you make a superchop? If DECK breaks its longerterm … Read More
In a Market of Volatility Hidden
Yesterday I was a panelist at High Frequency Trading World USA 2010 in NYC where we discussed HFTs effect on market volatility. Some are concerned that a market overly volatile will scare investors from participating in the market. Since HFTs are our modern middle men, perhaps market maker rules should be considered for them. This is an idea worth exploring but will not change … Read More
SMB Morning Rundown – December 8, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.