SMB Capital Stocks In Play Call Review. Each morning before the market opens we discuss the stocks that we believe will offer the best risk/reward trading opportunities intraday. Today’s review featured YOKU, ORCL, SODA, MCP,GMCR, FCX and AAPL PDF Summary Gameplan March 12th Steven Spencer is the co-founder of SMB Capital and SMB Training and has traded professionally for over … Read More
I Love Being Wrong–SODA
One of three In Play names discussed in today’s AM Meeting was SODA. It was gapping up to 36 which is a longer term resistance level. My initial thought was the news didn’t seem like a big deal and it would be a nice short on the Open against this level. As the market opened it traded a few cents … Read More
Free Webinar — Trading Large Gaps
The theme for Steve Spencer’s 2012 Webinar Series will be “Do The Right Thing”. On the second Webinar of the year, Steve will discuss Trading Large Gaps. Time: Monday, March 19th,2012 4:15PM-5:00PM Topics shall include: – The importance of pre-market prices and volume – How to use the “news” to develop a bias – When and how to use “the … Read More
Do not spend time mastering the shakeouts (VLO)
Hey Mike, Hope all is going well since we last spoke! I had a quick question for you that I knew you would be able to answer with ease with regard to watching the tape and getting shaken out. I’ve been trading on the LightSpeed simulator to better prepare myself for this summer when I take part in the 5-week training … Read More
Was It Worth Trading?
After the market closed yesterday P released their earnings. It was immediately sold aggressively down to 12.50. A controlled bear flag developed with the next major support about 2.5 points lower. I noticed on the StockTwits stream @ldrogen say the conference call was not going well at all. From the back of my mind emerged my negative bias having watched … Read More
March Trading Madness
I received this email from an SMB trader after the close today: After watching some of the VCU v. Drexel college basketball game last night I wanted to take the VCU head coach’s mantra of “Aggressive, Confident, Loose” to trading. I was more aggressive than usual with my size in the plays I was involved in. However, I was doing … Read More
I Love Being Wrong
As a pro trader my bias in a stock is largely a result of the price action. As I observe the price action I start to ask myself questions like what are the other players in the stock doing? What are the big institutions doing? Are swing traders buying or selling now? Are intraday momo traders trying to play the … Read More
Trading Is All Psychology
The following news was released after the market closed. 16:31:20 FDA Panel Votes 20-2 In Favor of Approval For Vivus’ QnexaVivus, Inc. (NASDAQ: VVUS) received excellent news on Wednesday as an FDA advisory panel has voted 20-2 in favor of approving the company’s weight-loss drug Qnexa. The panel’s decision is non-binding, but it is highly likely that the FDA will follow … Read More