For an excellent interview, with SMB Capital Co-Founder, Mike Bellafiore, about training new traders, the growth of SMB Capital, and trading please see this link:
Weekend Review: July 13 – 19, 2009
We were there. On the edge of cracking the 88 level on the SPY Monday morning, when we had a strong rally to begin the week. Then Intel reported to put some fire into this move. We closed the week slightly below 94.50, which puts us within striking distance of our 6 month highs at 95.50. We’ll see how that … Read More
Brick by Brick
After I leave the office Friday around 7PM I generally grab some dinner (last night at Pomodoro on the UWS….delicious!) and then shut things down for the day. So I missed an important email sent to me last night. An email that a new and developing trader can learn from. One that we should all write to someone who we … Read More
MOS into the Close
It is the third day live for our new class and no one has finished over $100 as of yet. Punks. Basically during the midday I spend much of my time kidding with and harassing the guys who are close to this hurdle. When one reaches $100 then many more will. And one new trader was at $180 into the … Read More
Flexing My Brain
During our AM Meeting the other day I suggested that FAST might be setting up for a nice down move. The stock was gapping down in the premarket on earnings–albeit on light volume. It had runup on Friday so I thought a bunch of traders were caught leaning the wrong way and would panic out below 30. Right on the … Read More
Wednesday Evening Quarterback
A few points….. 1) Today SMB tweeted: Best Morning Idea: Buy $GS @ 150.60-150.90, TGT: high 150s#mktabout 9 hours ago from Twitterlicious That was all GMan. We were asked a follow up question as to how we picked that level, which I will share. Yesterday GS could not hold above 150.50. Also on the longer term chart 150.50 has been a … Read More
Tossed Around Frisbee Style
I spent some time this weekend preparing myself psychologically for earnings season. I wanted to make sure to increase my size on stocks that had earnings. I wanted to be ultra sensitive to unusual volume at given prices, levels of huge interest/struggle and be on the lookout for plays to hold. In anticipation of Goldman’s earnings I forced myself to … Read More
A Quick Mistake
Lets talk about spreading yourself too thin. Today I traded RIMM and GS. I came in with an overnight position in JPM and made a negligible amount of money on that when the market opened. I had a bearish bias on today’s open. If we did not sell off then my plan was to re-evaluate. I thought that based on … Read More
