Today, the Market appears set to open higher on positive news out of Dubai and a merger between XOM and XTO. The levels we are watching in the SPY are 111.40 (sup) and 112 (res). We believe that if the Market starts consolidating above 112 we could see a trend day up to 113-113.25. However, if we hold below 111.40, … Read More
SMB’s Trading Philosophy – TraderInterviews.com
Mike Bellafiore, partner at SMB Capital, sat down for an interview with Tim Bourquin from TraderInterviews.com. In the interview Mike discussed SMB’s trading philosophy. Mike talks about why SMB chooses to trade “Stocks in Play”, the reasons he teaches traders to make “One Good Trade”, the importance of “Reading the Tape”, and how to spot “Trades2Hold”. Mike also discusses how to making trading decisions based upon intraday fundamentals, … Read More
SMB Morning Rundown for December 11, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.50 (sup) and 111.50 (res). Above 111.50, the next resistance level is 112.25. Below 110.50, the next support level is 110.20. Our best AM Idea for today, which we highlighted in our AM Meeting is to short ABX at 41.50. This would be … Read More
How Many Trades Should I Make Each Day?
I was talking to one of our trainees today about starting to trade a live account. He said “Steve, I don’t want to make a lot of trades each day.” I told him that he should be looking for the best setups in the stocks he is watching and execute on those trades. That is certainly my goal each day. … Read More
How I’m Becoming More Patient with My Trading – Moneyshow.com
Dov’s recent blog post was highlighted in the Moneyshow.com. In the post Dov discusses how he uses patience and detailed plans to improve his trading. You can read the full article here.
SMB Morning Rundown for December 10, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.25 (sup) and 111.50 (res). Above 111.50, we could see a move up to 112. Below 110.25, the next support level is 110. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy AAPL on a pullback … Read More
Foreshadowing on the Tape
MW foreshadowed its strength today on the tape. I used what I saw on the tape to confidently trade a difficult subset of an accumulation play in MW today. Let’s discuss. As usual there was the “Bella what are you trading?” peppered in my direction before the open. My standard response is to subtract how many minutes there are until … Read More
SMB Morning Rundown for December 9, 2009
Today, the Market appears set to open virtually unchanged from yesterday’s Close. We expect another day of tight consolidation before the Market makes a significant move. The levels we are watching in the SPY are 109-109.10 (sup) and 110-110.50 (res). Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 61.40. … Read More
