A Bet That Paid Off

sspencerGeneral Comments, Steven Spencer (Steve's) BlogsLeave a Comment

My primary focus for the past few years has been making money intraday.  But occasionally I observe a pattern that causes me to take an overnight position.  Around 10:30AM on Friday FNM had a very powerful breakout through $12.  It topped out around $14.  During the afternoon there was some selling and it traded as low at $12.40.  But during … Read More

XLE Levels

BellaGeneral Comments, Mike Bellafiore's (Bella's) BlogsLeave a Comment

The past two trading days there has been tremendous price action in XLE, crude, and related equities.  I am not an expert on energy but I do know that 80 and now 77 are very important levels for XLE.  Below 80 and 77 and you should look for weakness in the energy stocks.  Above 80 and 77 and you should look for strength.  Below … Read More

Profiting From Patterns

sspencerGeneral CommentsLeave a Comment

During our AM meeting our Desk gathers in our conference room to discuss the stocks that will be “In Play” for the day. I usually also throw in some tidbits about recent market patterns that may help our traders make some “easy” money. Easy money is usually found in one of our core trading plays that our trainees learn during … Read More