Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 132.30 and 132.60 (resistance) and 132.05 and 131.80 (support).
Our best AM Idea for today, which we highlighted in our AM Meeting is to get long SWIR at 11.00
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2 Comments on “SMB Morning Rundown – February 9, 2011”
Steve, how did you know to go long SWIR on the open?
lucky guess maybe 🙂 actually it was a combo of the one month of accum back in november, plus the prmkt buying there and my thought that many gap downs are bought in this mkt environment. looking at the day as a whole though i think the up move was pretty disappointing, although it turned out to be worth the 12 cents of risk the trade required.