As traders, it is our job to adapt to changing markets. No strategy or system works forever. And while there are certain trading fundamentals that will always be relevant (i.e., discipline, patience, proper preparation), we always to need to be cultivating our edge and looking for new ways to make money. Below is a quick rundown of three shifts I’m … Read More
An A Trading Set up
So we have all these uber smart guys walking around our desks at SMB. And they are always asking for more. “Bella how about a review of the best set ups of the month?” Steve is doing that as I write. I already have learned these set ups so I get to sit it out. Plus I picked out … Read More
SMB Setup for the Close for November 23, 2009
Today, the Market sold off for most of the day after a strong drive on the Open. In the afternoon, the Market touched the Opening lows and had a modest bounce. Into the Close we don’t expect a big move, but if the SPY hold above 111.10, we could see a move to 111.35-111.50. If the SPY take out the … Read More
SMB Morning Rundown for November 23, 2009
Today, the Market appears set to open higher after comments over the weekend from Chicago Fed Evans that interest rates will probably remain near zero into 2010. The weakness in the dollar is helping push gold to new highs, and also the catalyst for the strength in other commodities. The levels we are watching in the SPY are 110.50 (inflection) … Read More
Can You Just Play as a Trader?
If POT breaks 112 then I will get long. If RIMM hits 65 I will start a long term short. If MON gets above 70 then I will get long and try and stay long till 74. If AAPL breaks 205 I will whack the bids and play the downside momentum. All of these are example of excellent trading plans … Read More
SMB Setup for the Close for November 20, 2009
Today, the Market touched SPY 109 in the middle of the day the before making a modest attempt to rally later in the day. Into the Close we don’t expect a big move in the Market as the volume in fairly light. We are watching SPY 109.70 for resistance and 109 for support. Our best idea into the Close is … Read More
SMB Morning Rundown for November 20, 2009
Today, the Market appears set to open lower, continuing the weakness from yesterday. Overseas markets were down, adding to the pre-market weakness in the US. Commodities are also weighing on the Market due to strength in the dollar. The levels we are watching in the SPY are 109.60 for resistance on the upside and 108.80 for support on the downside. … Read More
Catching the Opening Drive
Trading the open is a high risk/ high reward game. The moves can be bigger and quicker, but if you are on the wrong side, the rip can really hurt. Whereas patience and conviction payoff on longer term trades, aggressiveness and flexibility are the skills that help short term traders capitalize on the volatility right on the open. Yesterday AM, … Read More