{"id":13333,"date":"2011-07-19T12:51:29","date_gmt":"2011-07-19T16:51:29","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=13333"},"modified":"2011-07-19T12:52:56","modified_gmt":"2011-07-19T16:52:56","slug":"the-wrong-stop-ibm","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-wrong-stop-ibm","title":{"rendered":"The wrong stop (IBM)"},"content":{"rendered":"<p>IBM drove on the open after gapping up.\u00a0 At 52 week highs if you did not pay right on the open you were left to watch a 2 point upmove.\u00a0 I am sure many passed on the first ticks opening drive play.\u00a0 Flagging at 180.50 offered our easiest trade which I am sure many did not miss.\u00a0 At 52 week highs, strongest stock on the open, and forming a bullish flag pattern.\u00a0 We all can make that trade.<\/p>\n<p>IBM got a bit trickier as it slowed near 182.\u00a0 The market made new highs but IBM did not make an impressive new high above 181.80 and the market was near R for SPY at 132.\u00a0 It was hard not to play defense here.\u00a0 I readjusted my stop from 181.49 to 181.64.\u00a0 Arrgggghhh!\u00a0 That was a mistake.<\/p>\n<p>I set the stop at 181.64 because this was just below the low of a pullback before the move to 182.\u00a0 I tightened up my stop because of the R on SPY and the lack of impressive new highs as the market was ripping.\u00a0 The real stop was below 50c.<\/p>\n<p>Expensive stock need more room.\u00a0 You give your best plays a little more room.\u00a0 Stocks do pullback even when strong and need some room for stops.\u00a0 IBM deserved a stop of holding below 181.50.<\/p>\n<p>Earlier I placed an intraday reversal trade in WBMD at 35.49 as it showed some weakness around this level.\u00a0 I set a stop for 76c.\u00a0 I got stopped out at 77c, the high was 80c, and then it fell 1.5 points.\u00a0 Arrgggghh!\u00a0 I thought that was the right stop.\u00a0 I just caught a bad bounce as they say in the market. \u00a0 The IBM stop however was no good.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/07\/ibm-stopped-out.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13359\" title=\"ibm stopped out\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/07\/ibm-stopped-out.png\" alt=\"\" width=\"472\" height=\"448\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/07\/ibm-stopped-out.png 590w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/07\/ibm-stopped-out-300x284.png 300w\" sizes=\"auto, (max-width: 472px) 100vw, 472px\" \/><\/a><\/p>\n<p style=\"text-align: left;\">\n<p><a href=\"http:\/\/twitter.com\/smbcapital\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IBM drove on the open after gapping up.\u00a0 At 52 week highs if you did not pay right on the open you were left to watch a 2 point upmove.\u00a0 I am sure many passed on the first ticks opening drive play.\u00a0 Flagging at 180.50 offered our easiest trade which I am sure many did not miss.\u00a0 At 52 week &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-wrong-stop-ibm\" 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":[225,4674,1336,1193,653,1354,1349],"class_list":["post-13333","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-ibm","tag-one-good-trade","tag-stops","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>The wrong stop (IBM) | 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\/the-wrong-stop-ibm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The wrong stop (IBM) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"IBM drove on the open after gapping up.\u00a0 At 52 week highs if you did not pay right on the open you were left to watch a 2 point upmove.\u00a0 I am sure many passed on the first ticks opening drive play.\u00a0 Flagging at 180.50 offered our easiest trade which I am sure many did not miss.\u00a0 At 52 week ... 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