{"id":11783,"date":"2011-05-24T14:18:30","date_gmt":"2011-05-24T18:18:30","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11783"},"modified":"2023-04-10T15:21:05","modified_gmt":"2023-04-10T19:21:05","slug":"if-check-1-if-check-2-if-check-3-then-pounce","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/if-check-1-if-check-2-if-check-3-then-pounce","title":{"rendered":"If Check 1, If Check 2, If Check 3 then pounce"},"content":{"rendered":"<p>One of the ways I use the SMB Radar to identify the best stocks and setups to see if a ticker is appearing at the top of<a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-weak-today-on-radar-may-24th.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-11794\" title=\"lo weak today on radar may 24th\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-weak-today-on-radar-may-24th.png\" alt=\"\" width=\"160\" height=\"336\" \/><\/a> multiple categories simultaneously. \u00a0At 10:37AM today LO was atop In Play, Weak Today, and Opening Range. \u00a0It was consolidating at the low of the day after a strong Opening Drive. \u00a0I love this setup.<\/p>\n<p>My trading style dictates opening a small position as close to the top of the consolidation as possible and then adding when it trades below the intraday low. \u00a0In this case 114.50 was the top of the range and 114.20 was the bottom.<\/p>\n<p>I will look at the Opening Drive and longer term levels to determine profit targets. \u00a0The opening down move in LO was about $2 so based on the selling at 114.50 there could be a down move to 112.50. \u00a0If you were to use the opening low as the start of the next down move that would give you a target of around 112.20. \u00a0The other two prices I looked for targets were the most recent consolidation range from last wednesday of 112.25 to 112.70. \u00a0I will use all three of these prices to to cover part of my short if there is any buying on the tape.<\/p>\n<p>LO eventually spiked down to around 112.50 but only was down there very briefly and required aggressive covering not to give back a lot of open PnL.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-multid-day-view-may-24th-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11792\" title=\"lo multid day view may 24th 2011\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-multid-day-view-may-24th-2011.png\" alt=\"\" width=\"600\" height=\"420\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-multid-day-view-may-24th-2011.png 1000w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-multid-day-view-may-24th-2011-300x210.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>One of the ways I use the SMB Radar to identify the best stocks and setups to see if a ticker is appearing at the top of multiple categories simultaneously. \u00a0At 10:37AM today LO was atop In Play, Weak Today, and Opening Range. \u00a0It was consolidating at the low of the day after a strong Opening Drive. \u00a0I love this &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/if-check-1-if-check-2-if-check-3-then-pounce\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":11794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,1395,8],"tags":[1376],"class_list":["post-11783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-smb-radar-update","category-steven_spencer_steves_blogs","tag-p"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If Check 1, If Check 2, If Check 3 then pounce | 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-check-1-if-check-2-if-check-3-then-pounce\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If Check 1, If Check 2, If Check 3 then pounce | SMB Training\" \/>\n<meta property=\"og:description\" content=\"One of the ways I use the SMB Radar to identify the best stocks and setups to see if a ticker is appearing at the top of multiple categories simultaneously. \u00a0At 10:37AM today LO was atop In Play, Weak Today, and Opening Range. \u00a0It was consolidating at the low of the day after a strong Opening Drive. \u00a0I love this ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/if-check-1-if-check-2-if-check-3-then-pounce\" \/>\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=\"2011-05-24T18:18:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-10T19:21:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/lo-weak-today-on-radar-may-24th.png\" \/>\n\t<meta property=\"og:image:width\" content=\"160\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"sspencer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" 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