Steven Spencer is a co-founder of SMB Capital, a proprietary trading firm in New York City. He began his trading career at a Nasdaq daytrading firm in March in 1996. Mr. Spencer was trained in a classic momentum style, which involves holding positions for very short time periods: ranging from a few minutes up to a few days. His approach combines technical analysis, tape reading, and news flow. Mr. Spencer can be seen regularly on Live from the Trading Floor on StockTwits TV, the Web's first native finance television network. He holds a BS in economics from The Wharton School of the University of Pennsylvania and a JD from Fordham University School of Law.