We teach our traders to follow the trend. I certainly can fade stocks. For three years this is how I more than paid the bills from 03-06. And this fading period cemented my tape reading skills. So it’s not that I would never advocate fading as a strategy. Just not now. Not in this market. Well save a few … Read More
SMB Morning Rundown for December 1, 2009
Today, the Market appears set to open higher as positive developments in Dubai and the weakness in the dollar have helped lift the futures. The levels we are watching in the SPY are 110.50 for support and 111.40 for resistance. Above 111.40, we expect a trend day up to 113.00. However, if the market starts holding below 110.50, we expect … Read More
AIG Pulls Me Back In
I wasn’t planning on trading AIG. I thought SEED would consume most of my attention. Actually I thought I could establish a decent size position in SEED, sit back, and enjoy the ride. I would let the MoMo hedge fund traders do their thing. Who am I to get in the way of a low volume market pattern? SEED … Read More
SMB Setup for the Close for November 30, 2009
Today, the Market bounced off the 109.00 support level we mentioned in our Morning Rundown post. We expect the SPY to stay in a pretty tight range between 109.20 and 109.60 into the Close. Above 109.60 we may get a move back to 110.00. Our best idea into the Close is to buy SEED on a pullback close to 12.70. … Read More
SMB Morning Rundown for November 30, 2009
Today, the Market appears set to open virtually unchanged from the Close on Friday. The levels we are watching in the SPY today are 110.50 for resistance and 109.00 for support. If the SPY starts holding below 108.80, we expect a move down to 108.00. Our best AM Idea for today, which we highlighted in our AM Meeting is to … Read More
Reflections on Black Friday: Market Psychology
At 5:15 AM I awoke Eastern Standard Albany Time. I was in Albany, New York about to take a borrowed car to the Amtrak train station to the subway to my office trek. Door to door it took me just under four hours. I was the only one awake on Amtrak from Albany to Penn Station as I was preparing … Read More
Black Friday Close
Into this Black Friday Close today we are paying special attention to some key levels in SPY: 110 is our biggest intraday level. below 109.75 I will lean short. We are watching the market leaders: AAPL (winner Best Intraday Stock for today), AMZN, GS, POT, JPM. And now we just started watching SEED as a momentum stock (above 11.31 is … Read More
Morning Recap
Normally during a strong market we look for a bounce with such a large gap. Circumstances are a little different this time as Asia has sold off hard for two days and we need to play catch up. I’m still a buyer at key support outlined below. Especially in the stocks that have been strongest recently such as AMZN, FCX, … Read More
