Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 113.05(sup) and 113.70(res). Below 113.05, the next support level is 112.80. Above 113.70, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy XOM close to 69.35. Tgts: 70.00, 70.80 … Read More
Still An Important Skill…
GOOG announced today that the Nexus 1, their new phone, would be carried on the Verizon network. RIMM started to trade lower. It was already on our radar as a short candidate below 66.50 and 66.20 based on its recent price action. We knew the next major support was not until 65 so it was game on for a short … Read More
SMB Morning Rundown for January 5, 2010
Today, the Market appears set to open virtually unchanged. The levels we are watching in the SPY are 113.10(sup) and 113.40(res). Below 113.10, the next support level is 112.80. Above 113.40, we could see upside to 114.10. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 66.50. Tgts: 67.20, 68.00 … Read More
RMBS Trades Busted
My short chop in RMBS got busted. Dov made the biggest chop on our desk and his profits were eliminated. NASDAQ put out this statement. Tough spot for NASDQ. I am the last person to complain about this stuff. The market is like the Wild West and I have come to accept this. Trade long enough and you will as … Read More
SMB Morning Rundown for January 4, 2010
Happy New Year! Today, the Market appears set to open higher, erasing all of the downmove into the Close on Thursday. The levels we are watching in the SPY are 112.10(sup) and 113(res). Below 112.10, the next support level is 111.40. Above 113, there are no clear resistance levels. Our best AM Idea for today, which we highlighted in our … Read More
Ten Things Most Exciting for 2010
10. The SEC tax declining by about 35c per thousand shares traded. 2009 was a tough year made much tougher because of this tax being raised 400 percent last year. This will mean a possible extra 17k for some of our traders. 9. Secret Project X. SMB has developed a practice tool we are very proud to unveil to our … Read More
SMB Morning Rundown for December 31, 2009
Today, the Market appears set to open slightly higher. The levels we are watching in the SPY are 112.50(sup) and 113(res). Below 112.50, the next support level is 112. Above 113, we could see upside to 113.40. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy SEED close 12.10. Add to the long … Read More
SEED money for the New Year
There’s always something to trade. You just have to be where the volume is. It can take one good stock to make your week, and one good week to make your month. 90% of life is showing up, and for those who showed up today, there was money to be made. We had a repeat offender today, our good old … Read More
