This morning I messaged on StockTwits that I was long SPY for a bounce play. Here are the messages time ordered. The original reason for the SPY long was a combination of how quickly we had moved from SPY 165 to 161 and my long positions showing relative strength to the SPY. Many times when I see this type of … Read More
Questions on Consistency and Scalability
Steve- Thank you for a great presentation on Tesla last week. I subscribed to the blog for a few months now, but your class was my first real exposure to SMB. It is refreshing to come across a professional trader, not just a professional instructor. I have a couple big picture follow-up questions from the class I hope you will … Read More
One Stock, Three Trades: $TSLA
(This post was written on June 1, 2013) The price action in $TSLA from the past six trading days does a nice job of demonstrating three distinct types of trades. Not all trades makes sense to all traders. But if as a trader you can figure out which of these trades fits your personality best and then build a detailed … Read More
Tricky Dicky
It was a very quiet morning in the world of “In Play” stocks. The only two tickers showing signs of life in the pre-market were DKS and GNW. After reporting earnings DKS lowered guidance which was causing a large gap to a major support area around 46.50. We were prepared for a bounce from this level given the strong underlying … Read More
A Trade Idea: $CLF
I look at the weekly and monthly charts in CLF and it looks like death! Maybe another 40% of downside. But as a lower time frame trader I see a long set up. I tweeted earlier today that CLF looked to be bottoming as it was being supported at 24.50. That was a good spot to initiate a small position. … Read More
Tips to Trade Bigger
MIKE- Good evening! I really enjoyed the webinar this evening, that was some good stuff. Lots of good nuggets in there that are practical and applicable. I’ve really been thinking a lot lately about getting bigger responsibly in those key spots where you just HAVE to get bigger and take size. Trying to be harder on myself for not extracting … Read More
Trading Lesson: $HLF
In this video Steve offers two trading tips on how to improve your results. 1) The importance of being present throughout the trading day 2) Using tape reading to add to a position in a very low risk way Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is … Read More
Guest Post: “Reversal Rehearsal” $DG
This guest post from experienced futures trader Bruss Bowman provides an excellent example of how to incorporate higher time frame price action into a possible lower time frame trade. It is clear from the post that Bruss in a methodical thinker who is also flexible in his thesis if price behavior fails to confirm. Reversal Rehearsal: Stock Study in DG … Read More