SMB Radar – Set Up In $MJN

smbcapitalSMB Radar Update2 Comments

Here is a great example from today on how we use the Strong Today column on the SMB Radar.

The Strong / Weak Today list is one of my favorite outputs of the algo on the Radar. I like to constantly look through the lists in search for good set ups. I want to find a stock that is In Play (shaded in red or also on the In Play list), has a good long term technical picture, and is setting up intraday (generally, prefer it to be in the same direction as the market is moving).

$MJN showed all of the above today.

  • New 52 week high, with no resistance above
  • On the In Play column (Top In Play names on the Radar)
  • Intraday set up – Rallied, consolidated / flagged, and started to tighten up near its high (74.70 area). This is important, as it allows the trader to enter with defined risk.
  • Same direction as the market was trending

2 Comments on “SMB Radar – Set Up In $MJN”

  1. I traded MJN as well using SMB Radar. Outstanding tool for intraday traders! Wondering if you could comment on MJN as it got weaker in the “strong Today” screen? I got short as the strength number decreased and it broke below76.05. Thanks

  2. If it is coming down the list, that should definitely warn you about your aggressiveness if in a long position. 

    I absolutely wouldnt short it purely on that. however if I was trading it actively and was in sync enough to see the pattern clearly change on the tape, and it clearly holds below a level, there is a trade to be made there if you are experienced enough. but there are usually easier shorts. 

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