At 10 o’clock today I started scanning the SMB Radar for stocks with promising setups from the Open. WCRX immediately caught my attention. It had had a strong opening drive to the downside and had retraced about 20% from its low. This was a good short candidate. But then I noticed on the tape that buyers had started to support … Read More
Traders Ask: Pyramiding
Question: Hi, I love your site and it´s been very helpful to me. It helps me remember that in trading you never stop learning, and you should always stay alert, for sometimes one’s worst enemy is oneself. Here’s my question / problem: lately, I have made several good trades, entering around the right time (although I need to work a little … Read More
Morning thoughts for November 8, 2010
Good morning traders. Market gapping down to the lower extreme of Friday’s trading range. This market continues acting very resilient, with buyers at every down move. Late last week we finally saw leadership from the financial sector, which broke out from a 2 month trading range. In the next sessions I will be watching this sector for continuation. I wouldn’t … Read More
SMB Morning Rundown – November 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.
Reading the swings in the market
A look at reading the overall market during the trading day.
A ?4 the Trading Community (Part II)
I received the email below from an SMB Blog Reader: I’m sure you are really busy so I don’t necessarily expect a reply or anymore of your time..I do want to say Thanks again however. I have pinpointed my issue..and it seems crazy. I don’t seem to have the balls to saty in winners long enough. Every thing I went long in … Read More
You Don’t Need To Be A Hero When Trading
This AM I tweeted that I thought LVS was getting a bit overdone. These words of caution were intended to put those still trading it on the long side on alert for a possible blowoff top and reversal. LVS at its peak today had moved up 40% from its pre-earnings closing price. Too much too fast. Those who bought on … Read More
A ?4 the Trading Community
I received the email below from an SMB Blog Reader: I’m sure you are really busy so I don’t necessarily expect a reply or anymore of your time..I do want to say Thanks again however. I have pinpointed my issue..and it seems crazy. I don’t seem to have the balls to saty in winners long enough. Every thing I went long … Read More