Today, the Market appears set to open lower. The levels we are watching in the SPY are 131.20, 131.50 and 131.80 (resistance) and 130.00 and 128.60 (support).
Our best AM Idea for today, which we highlighted in our AM Meeting is to get long NTES on a pullback between 47.00-47.30 as long as it is holding above 47.00 or if there is an opening drive, get long above premarket highs.
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2 Comments on “SMB Morning Rundown – February 24, 2011”
What are you guys thinking now? Stock broke your $47 critical level and appears to be drifting lower…
you should have looked for a move back to previous res and maybe start a long 45.75-45.25 and then add if it got back above 46 and held bc that would give you some confirmation that the buyers have stepped back in