Today, the Market appears set to open lower. The levels we are watching in the S&P Futures are 1224.00 and 1214.00 (resistance) and 1206.00, 1200.00, 1185.00 (support). For the SPY Levels, we are watching 123.00 and 122.17 (resistance) and 121.00, 120.30, 119.10 (support).
Our best AM Idea for today, which we highlighted in our AM Meeting is to get long EEP as long as it is holding above 60.00.
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2 Comments on “SMB Morning Rundown – November 11, 2010”
Is it just me or does getting long a relatively thinly traded stock on a day that is 2300 to 400 Decliners leading not seem like the best of ideas? It has only done 96K shares by 9:50…what am I missing on this one? A Support play on the daily??
paul,
thursday is my day off so the best am idea is kind of a wild card. i’m guessing it was related to the tight consolidation at that level the prior day. we generally look only at stocks that we know will have sufficient liquidty to trade.
steve
steve