Today, the Market appears set to open higher as news last night that BAC plans to repay its TARP money has helped lift financials higher. Pre-Mkt the SPY failed at yesterday’s 112 resistance level. Today, we are watching 112 for resistance and 111.10 for support. Above 112 we could see a move up to 113. Below 111 we could see a move down to 110.50.
Our best AM Idea for today, which we highlighted in our AM Meeting is to short AAPL close to 198. Tgt: 195.75
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4 Comments on “SMB Morning Rundown for December 3, 2009”
When you post these morning highlights like AAPL above, what is your approximate time frame for them to play out, five minutes, 30 minutes, etc.
When you post these morning highlights like AAPL above, what is your approximate time frame for them to play out, five minutes, 30 minutes, etc.
Can I ask roughly how you guys get your SPY watch levels for the day? The 112 resistance makes sense off yesterdays intraday high, but where did you get 111.10?
If i had to guess maybe the afternoon consolidation range lows? thanks!
Can I ask roughly how you guys get your SPY watch levels for the day? The 112 resistance makes sense off yesterdays intraday high, but where did you get 111.10?
If i had to guess maybe the afternoon consolidation range lows? thanks!