Before I start to break down each StockTweet I want to share some background information for this trade. FB reported a huge fundamental shift in their most recent earnings report on July 24th. FB’s mobile revenue as a percentage of its total revenue doubled. This was a game changing piece of information as the largest impediment to FB’s stock performance … Read More
$CREE Went Down & $NTAP Went Up
Following their respective earnings releases $CREE and $NTAP both gapped lower. Yet during our morning meeting I discussed trading $CREE on the short side and $NTAP on the long side. What was different about their price action that caused me to focus on a particular bias? If you look at the longer term charts below they seem fairly similar yet … Read More
Trade Review by Steve Spencer: $BIDU
In this video Steve discusses BIDU’s price action from the first week of August and several good risk/reward trading opportunities. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 17 years. His email is [email protected]. He is currently long BIDU.
Looking For An Oversold Bounce– $YRCW
YRCW reported disappointing earnings on Wednesday and gapped lower. It moved very well off of the previous S/R levels 22 & 25 (see chart below). On Friday it traded below 22 as selling began to pick up again and it closed at 18 which corresponds with its pivot low from May & June. The large surge in volume as it … Read More
Proper Preparation Disguised As Luck– $WLT
I was long WLT two weeks ago as it was trending higher from 11 to 14. Then they made an announcement after the close about a new financing deal and it gapped lower the next morning causing me to give back a decent chunk of my profits. After trading down to 12 in the morning where it did huge volume … Read More
The Round Tripper
It is not every day that you are able to catch a trend in both directions in a stock. FB has been a short term trader’s delight for the past five trading days. Media coverage hit a fever pitch today with FB tagging its otherwise meaningless “IPO price” of $38. The fact that it has been moving higher since last … Read More
Perception or Reality?
I have been long VMW since I bought it yesterday at the Open around 79.50. It closed near its high so I held it as a swing position. This morning I bid for more stock about $1 below where it closed yesterday, which had been the prior day’s morning resistance (see chart below). My bid got hit before the market … Read More
Trading AAPL Tomorrow?
If you would like to learn how to think like a professional trader pick up a copy of The Playbook today! Top 10 in Amazon Finance and from the author of One Good Trade the #1 Trading book in 2010. Here is my thought process going into tomorrow’s trading for AAPL: AAPL initial reaction was positive due to a combination of lowered … Read More