Every morning I scan through several news sources and rip through charts and screeners to find the best intra-day trading opportunities. The best setups are usually in stocks that have decent sized gaps (anything more than 5%), and have some fresh news (earnings/guidance, upgrade/downgrade, etc.) Today, although I had a few stocks on my watch-list, I decided to focus on … Read More
Trading Our Best AM Idea – December 8, 2009
Each morning ALJ comes into my office and requests I give him our “Best AM Idea” for the Open so he can blog about it. Bella is not a huge fan of putting out the specific trades we are considering making because he believes successful trading is about having trading skills and not about having some great trading idea. My … Read More
SMB Setup for the Close for December 8, 2009
Today, the Market has been range bound for much of the day. Into the Close we are looking at 109.90 for resistance and 109.55 for support. Above 109.90 we could see a move up to 110.30-110.50. Holding below SPY 109.50, we could see a move down to 109. Our best idea into the Close is to watch KR around 20.00. … Read More
A Trade Worth Making
We sit. We trade. We rip it up. We watch. We lose some more money. And the damn stock is still in the same place it openend. The little sucker has not even moved. Talk about a morning trading like a Piker. There I was banging in and out of KR on the open. Trading too much. Thinking I saw … Read More
SMB Morning Rundown for December 8, 2009
Today, the Market appears set to open lower led by weakness in the financials and commodity names. We expect the Market to trade mainly in a range today between 109 (sup) and 110.50 (res). We are also watching the 111.40 level in GLD. Below 111.40 we could see further downside in Gold today. Our best AM Idea for today, which … Read More
Buying Too Early- NVDA
Old School NVDA was In Play this open after some potentially bad news from competitor INTC and a rumor on a new contract with Acer. NVDA gapped up. 15.75 held the bid on the open and NVDA started to do its thing. 15.87 offers cleared. 16 offers cleared. 16.10 offers cleared. 16.15 offers cleared. 16.25 see yah. 16.30 bye. 16.35 … Read More
SMB Morning Rundown for December 7, 2009
Today, the Market appears set to open virtually unchanged. On the Open, if the Market starts holding above SPY 111.40, we could see a move up to Friday’s highs (112.40). If we hold below 110.80, look for a move down to Friday’s lows (110). We are also looking for further weakness in Gold today. Our best AM Idea for today, … Read More
Weekend Thoughts
As I sit here cleaning my inbox listening to some good old Dizzy Gillespie, Stan Getz and John Coltrane I look around the room and find a few hard working shark tank traders ripping through charts. I know their hard work will pay off this week. I love the commitment and desire to improve every day from these guys, it … Read More
