Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.50 (sup) and 111.50 (res). Above 111.50, the next resistance level is 112.25. Below 110.50, the next support level is 110.20. Our best AM Idea for today, which we highlighted in our AM Meeting is to short ABX at 41.50. This would be … Read More
How Many Trades Should I Make Each Day?
I was talking to one of our trainees today about starting to trade a live account. He said “Steve, I don’t want to make a lot of trades each day.” I told him that he should be looking for the best setups in the stocks he is watching and execute on those trades. That is certainly my goal each day. … Read More
How I’m Becoming More Patient with My Trading – Moneyshow.com
Dov’s recent blog post was highlighted in the Moneyshow.com. In the post Dov discusses how he uses patience and detailed plans to improve his trading. You can read the full article here.
SMB Morning Rundown for December 10, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.25 (sup) and 111.50 (res). Above 111.50, we could see a move up to 112. Below 110.25, the next support level is 110. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy AAPL on a pullback … Read More
Foreshadowing on the Tape
MW foreshadowed its strength today on the tape. I used what I saw on the tape to confidently trade a difficult subset of an accumulation play in MW today. Let’s discuss. As usual there was the “Bella what are you trading?” peppered in my direction before the open. My standard response is to subtract how many minutes there are until … Read More
SMB Morning Rundown for December 9, 2009
Today, the Market appears set to open virtually unchanged from yesterday’s Close. We expect another day of tight consolidation before the Market makes a significant move. The levels we are watching in the SPY are 109-109.10 (sup) and 110-110.50 (res). Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 61.40. … Read More
Trading Gap Downs on Earnings Day
Every morning I scan through several news sources and rip through charts and screeners to find the best intra-day trading opportunities. The best setups are usually in stocks that have decent sized gaps (anything more than 5%), and have some fresh news (earnings/guidance, upgrade/downgrade, etc.) Today, although I had a few stocks on my watch-list, I decided to focus on … Read More
Trading Our Best AM Idea – December 8, 2009
Each morning ALJ comes into my office and requests I give him our “Best AM Idea” for the Open so he can blog about it. Bella is not a huge fan of putting out the specific trades we are considering making because he believes successful trading is about having trading skills and not about having some great trading idea. My … Read More