{"id":10989,"date":"2011-04-18T17:11:14","date_gmt":"2011-04-18T21:11:14","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=10989"},"modified":"2013-03-19T13:20:10","modified_gmt":"2013-03-19T17:20:10","slug":"slw-40-opportunity-for-the-skilled-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/slw-40-opportunity-for-the-skilled-trader","title":{"rendered":"SLW 40: Opportunity for the Skilled Trader"},"content":{"rendered":"<p>I was walking the trading floor, making my rounds, when a trader motioned for my opinion.<\/p>\n<p>&#8220;Bella what do you think of SLW?&#8221;<\/p>\n<p>&#8220;Looks weak intraday. \u00a0Where is the next support level?&#8221;<\/p>\n<p>The trader searched his longer term charts and muttered,&#8221;40.&#8221;<\/p>\n<p>Guess where the stock was near? \u00a040.40 but heading towards 40.<\/p>\n<p>I asked, &#8220;Are you going to get long the 40 level?&#8221;<\/p>\n<p>&#8220;Should I? \u00a0I was thinking of shorting it below the 40 level.&#8221;<\/p>\n<p>I walked away towards another trader.<\/p>\n<p>&#8220;Is 40 a long?&#8221;<\/p>\n<p>Quickly I responded, &#8220;I would get long 40.&#8221;<\/p>\n<p>I tweeted today:<\/p>\n<blockquote><p><a title=\"SMB Capital\" href=\"http:\/\/twitter.com\/#!\/smbcapital\">smbcapital<\/a> SMB Capital<\/p>\n<p>there is a difference between knowing 40 is a support level in $SLW and being able to trade the opportunity. trading is a skill! $<\/p><\/blockquote>\n<p>Today after the close we are scheduled to watch tape of how SLW traded around this 40 level. \u00a0Because trading is not about knowing 40 is a level. \u00a0Though almost all underperforming traders obsess about knowing their levels.<\/p>\n<p>But can you trade this level? \u00a0There is the slip below the level. \u00a0How did you handle that? \u00a0There is another slip below the level. \u00a0You walk away? \u00a0You add above 40.60? \u00a041? \u00a0You hold for most of the move? \u00a0Do you have a system you are working on to capture most of these intraday moves?<\/p>\n<p>I want to put a poster up on the floor: SLW 40- Opportunity for the skilled trader.<\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author,<a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-ebook\/dp\/B003VIWRJA\/ref=tmm_kin_title_0?ie=UTF8&amp;m=AG56TWVU5XWC2\"> One Good Trade<\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/slw-40.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10990\" title=\"slw 40\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/slw-40.png\" alt=\"\" width=\"504\" height=\"420\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/slw-40.png 720w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/slw-40-300x250.png 300w\" sizes=\"auto, (max-width: 504px) 100vw, 504px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was walking the trading floor, making my rounds, when a trader motioned for my opinion. &#8220;Bella what do you think of SLW?&#8221; &#8220;Looks weak intraday. \u00a0Where is the next support level?&#8221; The trader searched his longer term charts and muttered,&#8221;40.&#8221; Guess where the stock was near? \u00a040.40 but heading towards 40. I asked, &#8220;Are you going to get long &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/slw-40-opportunity-for-the-skilled-trader\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":10990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4674,1729,398,1193,653,1354,1349],"class_list":["post-10989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-slw","tag-support-play","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SLW 40: Opportunity for the Skilled Trader | 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\/slw-40-opportunity-for-the-skilled-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SLW 40: Opportunity for the Skilled Trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I was walking the trading floor, making my rounds, when a trader motioned for my opinion. &#8220;Bella what do you think of SLW?&#8221; &#8220;Looks weak intraday. \u00a0Where is the next support level?&#8221; The trader searched his longer term charts and muttered,&#8221;40.&#8221; Guess where the stock was near? \u00a040.40 but heading towards 40. I asked, &#8220;Are you going to get long ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/slw-40-opportunity-for-the-skilled-trader\" \/>\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=\"2011-04-18T21:11:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-03-19T17:20:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/04\/slw-40.png\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/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 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