There wasn’t a lot of fresh news today so the focus of SMB’s AM Meeting was Second Day Plays and Technical Setups. SDPs are setups in stocks that were In Play the prior trading day and tend to offer some well defined opportunities for a few more trading sessions. TSs are setups based on a longer time frame technical pattern … Read More
Traders Ask: How Do You Use The Retracement High/Low?
Bella received the following email from a blog reader today Dear Mike, Thank you for an OUTSTANDING book. After studying the information within I now feel like I have a framework for improving my skills with each trade, every day. Steve talked about trading the retracement high today on stocktwits TV today. Could you please explain in more detail and maybe … Read More
Crazy Cramer
I think one of the things that served Jim Cramer very well while he was a hedge fund manager was his mental flexibility. He could blog at 8:00AM how he loved VZ, but by the next day he could talk about how it was a piece of garbage. Many people thought he was crazy for changing his mind so quickly … Read More
Bias Shmias!
One of the most frequent confessions I hear from developing traders is that they couldn’t change their bias when the price action warranted such a change. They develop a bias as to which direction a stock will trade and hold on to their viewpoint despite overwhelming evidence to the contrary. I have even heard there are many experienced traders who deal … Read More
SMB At The NYC Traders Expo
Mike Bellafiore The Traders Expo is on its way to New York City, February 20 – 23. Mike Bellafiore, SMB co-founder and author of One Good Trade: Inside the Highly Competitive World of Proprietrary Trading, will be attending the expo. Mike will be speaking on the following topics: Why Can’t You Become the Next Great Trader on the Street? – Monday … Read More
Free Webinar – Pre-Market Trading
If you missed Steve in his 4th and last free webinar of 2011 discussing pre-market trading, a very important skill set for professional short term traders, please click here to watch the recording.
Sammy’s Journal: Rolling With The Punches
At the beginning of the year I had goals for myself, which I did not achieve. So, I asked myself “what can I change in order to achieve these goals going forward?” I made a few changes and made it through a wild week, which turned out being my best week so far. The month started like this: Tuesday: Good … Read More
Don’t Be This Guy
Yesterday in the AM Meeting I mentioned XOM basically as an aside. It had reported earnings and was at the 52 week high in the premarket, so I felt obligated to at least mention that it should be bought above that level. So it ended up consolidating tightly right below the 80 level and I’m sure a bunch of SMB … Read More