How To View The Market Right Now

sspencerSteven Spencer (Steve's) Blogs1 Comment

normally i don’t blog during trading day but unusual circumstances…we failed right at the level i tweeted pre-market around 193. great spot to short and many traders did. sellers now in control and that only changes if we break the downtrend moving back above 190. a hold above 190.50 would give us a chance to close in the 191.50-193 level … Read More

“This Stock Is Going To Zero”

sspencerSteven Spencer (Steve's) BlogsLeave a Comment

Yesterday we started looking at SUNE as a good bounce candidate. Since issuing a profit warning the stock had sold off over 50% in a matter of days. We had been receiving pretty good news flow that large buyers began accumulating the stock around $16 and as it approached its 52 week low our expectation was that it would bounce … Read More

Why I’ll Be Trading Netflix Tomorrow

sspencerSteven Spencer (Steve's) Blogs, Trading Ideas, Trading LessonLeave a Comment

Netflix is the undisputed heavyweight champion of momentum stocks. Many have the false impression this makes it a great stock to trade on a daily basis. Oh contraire! For years its intra-day behavior has been quite erratic. But occasionally it sets up quite well. And when it does you should pay attention. Tomorrow, NFLX will begin trading split adjusted 7:1. … Read More

Today’s Trading Highlights

smbcapitalTrading LessonLeave a Comment

Here are some quick highlights from today’s trading. In the AM meeting, Steve talked about the 208 resistance level that $SPY had failed to hold above numerous times. This was a level to be short from. With the overnight session looking calm and almost strong, this flew in the face of price action at the moment. The level held once again … Read More