Mike Bellafiore, partner at SMB Capital, was interviewed today by Damien Hoffman from Wall St Cheat Sheet. In the interview Mike discusses the proposed “transaction tax” in Congress that would increase the cost of trading. Read the full interview here.
SMB Morning Rundown for December 17, 2009
Today, the Market appears set to open lower. The levels we are watching in the SPY are 110.50(sup) and 111(res). Above 111 we see upside to 111.40. Below 110.50, the next support level is 110.25. Our best AM Idea for today, which we highlighted in our AM Meeting is short AMZN at 129.35. Tgt: 127.70 Don’t forget to follow us … Read More
There’s Always Something On The Move.
If you needed yet another sign that the volatility is low, just look at today’s action after the Federal Reserve rate announcement. Yes, we knew that the rate was going to be steady. And yes we figured that the language in the announcement would be similar to previous ones (Fed plans to keep rates exceptionally low for extended period etc.) … Read More
SMB Morning Rundown for December 16, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 111.40 (sup) and 112 (res). Above 112 we see upside to 112.40. Below 111.40, the next support level is 111. Our best AM Idea for today, which we highlighted in our AM Meeting is buy ADBE if it holds above 36.60. Tgts: 37.20, … Read More
Using Levels
SMB shares a ton of important price levels with its traders. Occasionally, we tweet these levels to the at large trading community as well. For a skilled intraday trader there is a lot of money to be made trading off of these levels. But without trading skills and an understanding of various trading setups these levels don’t offer much value. … Read More
Open Shots: BBY
I traded BBY on the Open. It does not get any easier than this stock on this open. It just doesn’t. I am positive as I write (BBY is at 41.60 now). How could I not be? BBY has done nothing but trade lower. How is that difficult? I am in my office now drinking Coke Zero, writing notes for … Read More
SMB Morning Rundown for December 15, 2009
Today, the Market appears set to open lower. The levels we are watching in the SPY are 111 (sup) and 111.40 (res). Above 111.40, the next resistance level is 112. Below 111, our next support level is 110.50. Our best AM Idea for today, which we highlighted in our AM Meeting is to short AAPL close to 196.40. Tgts: 195.60 … Read More
A World Class Training Program
Dr. Steenbarger of TraderFeed started an important conversation about the ideal training program for traders. As the partner of a trading firm founded on the principle of offering the best intraday equities training program on the street, we would like to contribute to this conversation. My thoughts are meant to supplement what Dr. Steenbarger has already shared so some things … Read More
