{"id":10477,"date":"2011-03-21T13:01:46","date_gmt":"2011-03-21T17:01:46","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=10477"},"modified":"2011-03-21T13:01:46","modified_gmt":"2011-03-21T17:01:46","slug":"a-reason-to-lighten-up","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-reason-to-lighten-up","title":{"rendered":"A Reason to Lighten Up"},"content":{"rendered":"<p>Everyone wants to get big. \u00a0Great goal. \u00a0To trade big responsibly you must have ways to lighten up. \u00a0Today was one just way in QCOM.<\/p>\n<p>So Solo J was in QCOM and looking to get bigger. \u00a0QCOM was nicely above the longer term resistance at 53. \u00a0QCOM was also cleanly above a slight intraday level of 53.50. \u00a0A solid opening drive was followed by some consolidation with volume. \u00a0Bullish Flag Pattern?<\/p>\n<p>Solo J got bigger around 53.80ish and we were expecting an explosive move above 54. \u00a0QCOM could not hold above 53.90, with 53.95 the intraday high. \u00a0We were\u00a0accumulating\u00a0below these levels expecting a spike through the whole number. \u00a0Our stops were 53.69, a price never touched in the consolidation.<\/p>\n<p>QCOM finally held above 53.90 and pressed above 53.95. \u00a0QCOM found 54 and 54.01 and 54.03 and 54.05 with more selling than I expected. \u00a054.10 became the new previous 53.90 of intraday resistance.<\/p>\n<p>Well this is not what we were expecting. \u00a0I did not like all that selling above these resistance levels. \u00a0It was still so early with increased danger of a reversal. \u00a0So I recommended lighting up. \u00a0This was just not the move I had expected. \u00a0When QCOM held below 53.90 I recommended lighting up some more as this should have presented support.<\/p>\n<p>I love the aggressiveness to get very big into the consolidation. \u00a0But to be big you must also be able to lighten up in a way that makes sense to you. \u00a0And a new high, with too much selling above the high, and an unimpressive drive higher can be a reason to lighten up and reevaluate.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/03\/qcom-charts.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10478\" title=\"qcom charts\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/03\/qcom-charts.png\" alt=\"\" width=\"574\" height=\"474\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/03\/qcom-charts.png 717w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/03\/qcom-charts-300x248.png 300w\" sizes=\"auto, (max-width: 574px) 100vw, 574px\" \/><\/a><\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/www.amazon.com\/gp\/product\/0470529407\/sr=1-1\/qid=1300482024\/ref=olp_product_details?ie=UTF8&amp;me=&amp;qid=1300482024&amp;sr=1-1&amp;seller=\">One Good Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everyone wants to get big. \u00a0Great goal. \u00a0To trade big responsibly you must have ways to lighten up. \u00a0Today was one just way in QCOM. So Solo J was in QCOM and looking to get bigger. \u00a0QCOM was nicely above the longer term resistance at 53. \u00a0QCOM was also cleanly above a slight intraday level of 53.50. \u00a0A solid opening &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/a-reason-to-lighten-up\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1193,653],"class_list":["post-10477","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-trader-education","tag-trader-training","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Reason to Lighten Up | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/a-reason-to-lighten-up\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Reason to Lighten Up | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Everyone wants to get big. \u00a0Great goal. \u00a0To trade big responsibly you must have ways to lighten up. \u00a0Today was one just way in QCOM. So Solo J was in QCOM and looking to get bigger. \u00a0QCOM was nicely above the longer term resistance at 53. \u00a0QCOM was also cleanly above a slight intraday level of 53.50. \u00a0A solid opening ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/a-reason-to-lighten-up\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-03-21T17:01:46+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/03\/qcom-charts.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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