RIG was the best stock intraday. 56 has been a huge level. Thursday during the AM meeting Jersey Shore highlighted this level. During the AM meeting Friday he did as well. Intraday he called out, “RIG above 56.” GTL. Gym…..Trading……Laundry. And yet some on our desk did not catch most of the move. Why? 1) All levels are not created … Read More
Interpreting Price Action: Unveiling Support and Resistance
An important element of price action that can give a trader some insight into the probability of support/resistance holding or failing.
SMB Morning Rundown – September 10, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Traders Ask: Must I Always Follow My Trading Rules?
Question: Mike, Hope you enjoyed an excellent holiday weekend! I spent a lot of time this weekend thinking about a trade from Friday and whether or not I should continue to make this trade – I am curious what your reaction would be if one of your guys did this. In the AM, I noticed the NYSE-TICK opened strong … Read More
SMB Morning Rundown – September 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.
An “Old” Options Pro Joins The SMB Blog
The goal of my blog is to teach traders about options. I started trading stock options back in 1985 making markets on the Floor of the CBOE. The changes over the past 25 years in some ways are good while others bad. My views come from looking from the floor outward. Computers have sped up the process but the game … Read More
SMB Morning Rundown – September 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.
I Love That!
During the AM Meeting I spent a few minutes discussing the importance of focusing on the “right stocks”. The right stocks are one’s that have the attention of a sufficient number of market participants to cause them to have powerful and clearly defined moves on many different time frames. Too often traders attempt to execute trades in every stock that … Read More