Today, the Market appears set to open slightly higher. The levels we are watching in the SPY are 135.00, 135.50 and 136.20 (resistance) and 133.25, 134.00, and 134.30 (support).
Our best AM Idea for today, which we highlighted in our AM Meeting is to get long SPLS against 16.40 for a break through 17.00.
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2 Comments on “SMB Morning Rundown – May 19, 2011”
I noticed you guys are doing these Rundown’s best idea very often. It is too bad, because I like to follow along and paper trade the idea of the day.
Slow afternoon in SPLS. Was able to get in at 16.50 around 9:45 and sold out at 16.65 around 10:35. Got back in at 16.50 again and out at 16.55. Then watched it do nothing for the next few hours.