Today was an inside day after yesterday’s market break. Statistically this was the most probable outcome. The price action for the bulls today was terrific. Again. I have no evidence that we are heading down from the price action of late no matter what the proselytize via the blogosphere and traditional media. And so what am I thinking about to prepare for … Read More
Morning thoughts for September 21, 2010
Good morning traders. Market is up slightly overnight following a very strong session yesterday. Typically after a trend day the following day tends to see consolidation in the morning session. On the open I will be much more inclined to take quick momentum profits than usual. I am also going to be looking to buy quick dropouts to afternoon support … Read More
SMB Trade of the Week – FDX
SMB Trade of the Week – FDX. A Return to a Technical Break Area Trade
Traders Ask: What Bloggers Should I Follow?
Hi Mike In your book you mention several times that you ask potential traders what blogs a trader reads. Sadly when I thought about this (and prior to this blog) the answer for me was none. I read heaps, seek out videos, study my trades, would love a mentor etc. but no blogs). Why? When I started trading stocks I … Read More
Traders Ask: What is My One Good Budget?
My name is (XXXXXXXXXXX) and I just finished “One Good Trade.” I enjoyed your book very much and I wanted to send a few comments your way. Personally I am a full time day trader from home. Currently I am concentrating on the SP emini but after reading your book I feel as though I need to start looking for … Read More
The One Penny Difference
FDX broke down technically below 82.71-82.65 intraday. 83 was a prior important intraday level. The sellers won that battle. FDX found 81.80 in a nice downtrend after the technical break. And then we had another excellent opportunity for a technical trade. We had another A trade. When a stock breaks a technical level like at below 82.71-82.65, makes a … Read More
Mike Bellafiore on the Gabe Wisdom Show
Listen to this great show by Gabriel Wisdom from Business Talk Radio. He sits down with Mike Bellafiore, author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading, and discusses why traders fail and what SMB looks for in the next great trader. Mike Bellafiore enters Gabe’s show twenty minutes into his broadcast. Gabriel Wisdom hosts regular … Read More
Trading is About These Moments
Becoming a consistently profitable trader can be summed up in the ability to manage these trades from today. 1. Whether to buy RIG above 60 2. Trading SVNT at the 18.50 intraday level 3. SINA after it broke above a bullish flag pattern to 46.75 4. What to do when SPY hit 112 today. These were some moments from the … Read More