One of the ways I use the SMB Radar to identify the best stocks and setups to see if a ticker is appearing at the top of multiple categories simultaneously. At 10:37AM today LO was atop In Play, Weak Today, and Opening Range. It was consolidating at the low of the day after a strong Opening Drive. I love this … Read More
Context Matters: Why BIDU was a short and CF was not
Last week I wrote a blog that discussed an excellent short setup in BIDU from May 16th. BIDU was trending down on the daily time frame and offered a very low risk intraday trade on the short side after running up on the Open and then forming a rounded top. I tasked one of our trainees to continue to look … Read More
I’d Rather Make Money Than Be Right
Those who follow SMB closely know that our AM Meeting divides trading ideas into three sections. Fresh, Second Day Plays, and Technical Plays. On Friday during we discussed YUM that recently had been trending higher and was especially strong on Thursday. With this particular scenario we highlight “prices of interest” where we would look to play YUM on the long … Read More
Using Your Strengths To Improve Your Trading Results
I had an interesting conversation after the close today with a newb trader who is attempting to become consistently profitable. I asked this very intelligent and competitive young woman what were her strongest qualities as a trader. The first thing out of her mouth was she was not afraid to let her winners run. She then added that she felt … Read More
Why BIDU Kicked My Ass Today
I lost money in BIDU today. I was trading it strictly on the short side. It opened at 137 and close at 131. Wow, you must thinking that this guy really has no idea what the heck he is doing. You might be right 🙂 Let’s review some of the things that caused me to lose money in it today … Read More
SMB Gameplan Recap for May 11th
Here is another recap video that takes you through my thought process with respect to our AM Ideas as well as how the price action during market hours impacted our trading plan. Fresh ideas are usually listed in order of difficulty. Ideas listed first are for novice traders and as you work your way down the list the stocks become more … Read More
SMB Morning Gameplan Recap
This morning May 3rd offered a bunch of fresh news plays (CTSH, ADM, ANR and MCP) as well as some good second day and technical setups in SLV, BIDU, and AMZN. In this video Steve breaks down his pre-market bias and then discusses possible trades as the price action developed during the day. Here is a link to the written … Read More
Trader’s Ask: A Good/Safe Broker?
hi mike, what sould i look for in a good and safe broker, and what broker do you guys use (lightspeed ?) p.s loved your book ! one of my top 10 (along with livermore’s, humphrey B. neill ,o’neil ,wyckoff and all the best) Mr. Spencer Responds We just launched SMB Trading. If you are looking for a great place to trade … Read More