{"id":10706,"date":"2011-04-04T18:01:25","date_gmt":"2011-04-04T22:01:25","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=10706"},"modified":"2011-04-04T18:15:10","modified_gmt":"2011-04-04T22:15:10","slug":"if-you-love-the-level-you-have-to-reshort","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/if-you-love-the-level-you-have-to-reshort","title":{"rendered":"If you love the level you have to reshort"},"content":{"rendered":"<p>Before the open we identified 55.80 as an important level in RIMM. \u00a0I will let you decide how important this level was to you. \u00a0But I will make an important trading point. \u00a0If you love a level then you have to be willing to trade off of this level a few times. \u00a0RIMM is an excellent example from today.<\/p>\n<p>Many traders were short because RIMM was below 55.80 the lows from the five day chart. \u00a0RIMM has sold off from 70 recently and been very weak. \u00a0On the Open 55.80 held, but then RIMM did not trade well through 55.80. \u00a0It just was not that weak. \u00a0Next came a move above 55.80 and lots being stopped out. \u00a0But now comes the trading that separates the 4k day from the negative.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimm-55.80-level.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10707\" title=\"rimm 55.80 level\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimm-55.80-level.png\" alt=\"\" width=\"538\" height=\"347\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimm-55.80-level.png 841w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimm-55.80-level-300x193.png 300w\" sizes=\"auto, (max-width: 538px) 100vw, 538px\" \/><\/a><\/p>\n<p>RIMM failed above 56 and then came back below the 55.80 level. \u00a0This level held again. \u00a0If you love this level then you have to reshort. \u00a0And doing so would have made your day. \u00a0Yes I get that pyschologically you are less willing to do so because earlier you lost shorting this level. \u00a0But the right thing to do if you love the level is reshort and hold.<\/p>\n<p>Your job is to do the right thing and not what makes you most comfortable. \u00a0Eating pretzels on the couch is also quite comfortable but that never made anyone money as a trader.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimmreshort.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10708\" title=\"rimmreshort\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimmreshort.png\" alt=\"\" width=\"504\" height=\"392\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimmreshort.png 630w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimmreshort-300x233.png 300w\" sizes=\"auto, (max-width: 504px) 100vw, 504px\" \/><\/a><\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/www.amazon.com\/gp\/product\/0470529407\/ref=s9_simh_gw_p14_d0_i1?pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_s=center-3&amp;pf_rd_r=0D806DS8WMD7898MS500&amp;pf_rd_t=101&amp;pf_rd_p=470938811&amp;pf_rd_i=507846\">One Good Trade <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before the open we identified 55.80 as an important level in RIMM. \u00a0I will let you decide how important this level was to you. \u00a0But I will make an important trading point. \u00a0If you love a level then you have to be willing to trade off of this level a few times. \u00a0RIMM is an excellent example from today. Many &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/if-you-love-the-level-you-have-to-reshort\" 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":[4674,268,81,1193,653,1354,1349],"class_list":["post-10706","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-rimm","tag-smb-training","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","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>If you love the level you have to reshort | 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\/if-you-love-the-level-you-have-to-reshort\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If you love the level you have to reshort | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Before the open we identified 55.80 as an important level in RIMM. \u00a0I will let you decide how important this level was to you. \u00a0But I will make an important trading point. \u00a0If you love a level then you have to be willing to trade off of this level a few times. \u00a0RIMM is an excellent example from today. Many ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/if-you-love-the-level-you-have-to-reshort\" \/>\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=\"2011-04-04T22:01:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2011-04-04T22:15:10+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/rimm-55.80-level.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\" 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