I was walking the trading floor, making my rounds, when a trader motioned for my opinion. “Bella what do you think of SLW?” “Looks weak intraday. Where is the next support level?” The trader searched his longer term charts and muttered,”40.” Guess where the stock was near? 40.40 but heading towards 40. I asked, “Are you going to get long … Read More
Traders Ask- Where Do I Buy? (Support Play- TSLA)
I received this email from a reader: Hi Mike, I caught your stocktwits segment on Sunday (I believe) covering the TSLA IPO. Now… as I’m watching it drip lower I’m wondering at what level if at all would GS or the underwriter support it? Where would you look to get interested in buying? 18 looks like the line of defense … Read More
A Support Play- WAG
As I was finishing my cholesterol free egg and bagel sandwich in the premarket, I saw huge volume in WAG at 37.32. When WAG opened more volume was done right here. Holy important intraday level! WAG finally held this level and I got long right on the open in WAG (I am not shy). This was a support play. WAG … Read More