Today, the Market appears set to open slightly lower. The levels we are watching in the SPY are 133.09, 133.36, and 133.60 (resistance) and 131.80, 131.20 and 130.60 (support).
Our best AM Idea for today, which we highlighted in our AM Meeting is to get long QIHU on a pullback to 35.00 with a target to 40.00
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6 Comments on “SMB Morning Rundown – March 31, 2011”
this could of been so sick if you caught a short below 34.5. Wow, good call.
Yep, great call if you turned the chart upside down!
It was a great call…they caught the inflection point…that’s all you want as a trader…
I don’t believe anyone can call a direction 100% correctly before market actually trades. I certainly don’t expect SMB to, what I do expect is a well thought out plan, which maybe consists of many ‘what-ifs’, that itself depends on the experience of the trader. Additionally, the best AM idea in my opinion is simply an idea that a trader should ‘watch’ for during the trading day, and based on market condition, use your own discretion to trade it.
As far as the training goes, have you taken their training course?
If you wish to come to this blog and differ about anything that is welcome. Name calling, hyper negativity, and belligerence are not welcome. A previous comment was removed for these reasons. Trading is about finding the best inside of you. The previous comment dis not represent that and therefore is not welcome on our blog. Keep working on your trading game! We will keep trying to help.
i think it was a little aggressive to pick price/direction for second day play in an IPO. but bottom line is gman has trading skills and still made money when he recognized his initial bias was wrong. you observe the price action and if it doesn’t confirm your initial idea you step back and come up with a new trading plan.
no different than my thought that RIMM would finally break down today below 56. volume came in when it popped back above 56 so i covered and decided it won’t be breaking down without a fresh catalyst to get people to panic below 55.80