Days like today make me wonder why we often complain about HFTs so much. I mean think about it. All you had to do was do the following: 1. Buy SPYs at 103.02 on the open at risk below 99c. Ultimate piker play 2. Buy BIDU at 69.80 and risk below the magic 75c level 3. BUY AMZN at 111.05 … Read More
Trading Quote of the Day – July 7, 2010
“If you don’t know who you are, the stock market is an expensive place to find out.” George Goodman
SMB Morning Rundown – July 7, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Unusual Prices Are A Better Bet In An HFT Dominated Market
I was trading FCX this morning. I noticed a clear buyer at 60.90 during the Open. In the late morning the buyer dropped and I got short. FCX traded down about 30 cents over the next ten minutes. It then did a bit of a short squeeze up to 61 before trading down to its opening price of 60.20 From … Read More
SMB Trade of the Week: Baidu – July 6, 2010
Watch SMB Trade of the Week, a Trade based on Price from Mike Bellafiore.
Traders Ask- Where Do I Buy? (Support Play- TSLA)
I received this email from a reader: Hi Mike, I caught your stocktwits segment on Sunday (I believe) covering the TSLA IPO. Now… as I’m watching it drip lower I’m wondering at what level if at all would GS or the underwriter support it? Where would you look to get interested in buying? 18 looks like the line of defense … Read More