Traders watching the S&P 500 have at least four possibilities for market proxies (and most other major indexes have similar issues), but they’re not always created equal. Some instruments do some things better than others and some are completely inappropriate for certain uses. Let’s start with looking at the pros and cons for each SPY proxy: SPY: An ETF that … Read More
Decoding Pullbacks: A Case Study in RIMM Post-Earnings (9/17/10)
Last week, a reader asked for an example of an easy technical play… a lay-up. Here is an example of One Good Trade in RIMM – a pullback short supported by multiple technical factors.
Identifying the ABC Trading Pattern: A Key Trend Reversal Indicator
A simple pattern in context of a more complex trading day.
POINTS OF INFLECTION (TIF)
TIF, Tiffany & Company, offered opportunity on the Open. 45.35 was the most important level. Trades off of these points of inflection offer ridiculous risk/reward opportunities. 45.35 was the most important level. After an initial upmove on the Open 45.05 held the bid. And then TIF found 45.35 but could not hold a bid at this price. Repeating white prints … Read More
SMB Morning Rundown for December 30, 2009
Today, the Market appears set to open lower. The levels we are watching in the SPY are 112 (sup) and 112.60(res). Below 112, the next support level is 111.50-111.60. Our best AM Idea for today, which we highlighted in our AM Meeting is to short AAPL into a pop close to 210. Tgts: 209, 208. Don’t forget to follow us … Read More
SMB Morning Rundown for December 29, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 112.60 (sup) and 113.60(res). Below 112.60, the next support level is 112. Our best AM Idea for today, which we highlighted in our AM Meeting is to short AAPL into a pop close to 212.85. Tgts: 211.30, 210.60. Don’t forget to follow us … Read More
SMB Morning Rundown for December 28, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 112.40 (sup) and 113.60(res) Below 112.40, the next support levels are 112 and 111.50. Our best AM Idea for today, which we highlighted in our AM Meeting is AAPL. Buy into a pullback between 209.30 and 210. Tgt: 214-215. Don’t forget to follow … Read More