One of our new traders poked his head into my office yesterday and asked,”What do you think of TSLA?” I had read a few things about the IPO but nothing that led me to think it would be especially hot. The whole electric car thing is cool but I didn’t feel the hype (think huge margins and a ginormous upside … Read More
A ?4 the Trading Community- How Do I Trade BP Now?
Dr. Steenbarger helped me recognize one of the improvements we could make at SMB awhile ago. The partners and Senior Traders must be responsible for a great deal of teaching and mentoring. But if traders are not leveraging the talent of all firm members then that firm is not offering the best learning environment. Traders learn from other traders and … Read More
Traders Ask- When Do You Buy? (Breakout Trade)
I received these questions from Reader Renato: Hi Mike, Hope this mail will find you well. I watched your stocktwits video on breakout trades (AEM trade). Since that is one of the setups I find most appealing, decided to ask you something. Very often, breakouts don´ t offer a lot of opportunities to enter the trade, since there is a … Read More
SMB Trade of the Week: Visa
Watch SMB Trade of the Week, a Resistance Trade in V from Mike Bellafiore.
My Mistake, Move On
Apparently I mistakenly left in some sell orders to short SY after the close. I headed to our training room for a Tradecast with our new traders and a guest visitor from CT. One of our traders poked his head in the door and said,”Bella you got filled in SY and are way out of the money.” I have heard … Read More
PLAYING AIG FOR A BIGGER MOVE
Wednesday AIG broke about an important resistance level of 36. If for some reason you have been trapped under a rock for the past two months you might have missed that most things breaking out head for higher ground. Boss Lindzon has labeled the recent market upmove as the “inconceivable rally.” One of the original trading bloggers, Rev Shark, on … Read More
OPENING DAY
Tomorrow is Opening Day! All the statistics from last year are thrown out and we start anew. Spring has arrived with its warmer weather, flowers blossoming and sunlight extended. All those fans of non playoff teams gain a great gift- hope. No matter that the Tampa Rays failed to make the playoffs in 2009 as most predicted- this could be … Read More
TRADING WITHOUT VISIBILITY (ARQL)
I was flying home from Florida this weekend and we started hitting some serious turbulence on the descent. A woman in front of me popped open the window shade and was startled by the lack of visibility. “How can we land in this? You can’t see a thing!” she shrieked to her significant other (who looked too much like “The Situation” from … Read More