Today, the Market appears set to open lower. The levels we are watching in the SPY are 110.50(sup) and 111(res). Above 111 we see upside to 111.40. Below 110.50, the next support level is 110.25. Our best AM Idea for today, which we highlighted in our AM Meeting is short AMZN at 129.35. Tgt: 127.70 Don’t forget to follow us … Read More
SMB Morning Rundown for December 15, 2009
Today, the Market appears set to open lower. The levels we are watching in the SPY are 111 (sup) and 111.40 (res). Above 111.40, the next resistance level is 112. Below 111, our next support level is 110.50. Our best AM Idea for today, which we highlighted in our AM Meeting is to short AAPL close to 196.40. Tgts: 195.60 … Read More
SMB Morning Rundown for December 14, 2009
Today, the Market appears set to open higher on positive news out of Dubai and a merger between XOM and XTO. The levels we are watching in the SPY are 111.40 (sup) and 112 (res). We believe that if the Market starts consolidating above 112 we could see a trend day up to 113-113.25. However, if we hold below 111.40, … Read More
SMB’s Trading Philosophy – TraderInterviews.com
Mike Bellafiore, partner at SMB Capital, sat down for an interview with Tim Bourquin from TraderInterviews.com. In the interview Mike discussed SMB’s trading philosophy. Mike talks about why SMB chooses to trade “Stocks in Play”, the reasons he teaches traders to make “One Good Trade”, the importance of “Reading the Tape”, and how to spot “Trades2Hold”. Mike also discusses how to making trading decisions based upon intraday fundamentals, … Read More
SMB Morning Rundown for December 11, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.50 (sup) and 111.50 (res). Above 111.50, the next resistance level is 112.25. Below 110.50, the next support level is 110.20. Our best AM Idea for today, which we highlighted in our AM Meeting is to short ABX at 41.50. This would be … Read More
SMB Morning Rundown for December 10, 2009
Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.25 (sup) and 111.50 (res). Above 111.50, we could see a move up to 112. Below 110.25, the next support level is 110. Our best AM Idea for today, which we highlighted in our AM Meeting is to buy AAPL on a pullback … Read More
SMB Morning Rundown for December 9, 2009
Today, the Market appears set to open virtually unchanged from yesterday’s Close. We expect another day of tight consolidation before the Market makes a significant move. The levels we are watching in the SPY are 109-109.10 (sup) and 110-110.50 (res). Our best AM Idea for today, which we highlighted in our AM Meeting is to buy RIMM close to 61.40. … Read More
SMB Setup for the Close for December 8, 2009
Today, the Market has been range bound for much of the day. Into the Close we are looking at 109.90 for resistance and 109.55 for support. Above 109.90 we could see a move up to 110.30-110.50. Holding below SPY 109.50, we could see a move down to 109. Our best idea into the Close is to watch KR around 20.00. … Read More