{"id":1668,"date":"2009-08-05T18:32:00","date_gmt":"2009-08-05T22:32:00","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1668"},"modified":"2013-02-20T14:08:20","modified_gmt":"2013-02-20T19:08:20","slug":"seen-that-traded-that-aig","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig","title":{"rendered":"Seen That, Traded That: AIG"},"content":{"rendered":"

“Have you ever seen anything like that?” asked a new trader.<\/p>\n

“The news isn’t new,” chirped a trader on Day 18 of his trading career.<\/p>\n

“AIG traded up from 15 to 23 and I barely made any money how is that possible?”<\/p>\n

Let’s discuss AIG and all the plays that will be like AIG going forward.<\/p>\n

1) There will be many more AIG’s. \u00a0You didn’t miss the only great trading opportunity of the year. \u00a0And yes stocks really can just move like that.<\/p>\n

2) Often breaking news hits and traders decide that the news is not significant. \u00a0Maybe the news is not new. \u00a0 But that is not dispositive of whether AIG will trade higher. \u00a0Stocks go higher for one reason: there are more buyers than sellers. \u00a0Your opinion about whether this news warrants a higher push does not move the market. \u00a0If the stock spikes, consolidates, and then makes a new push higher, then get long, and leave your opinion for drinks after you crush the trade like many of the better traders on our desk (and then drinks on you).<\/p>\n

3) As intraday traders it is frustrating to trade an AIG with a long bias but get shaken out frequently such that you do not kill the stock. \u00a0If this is the case then you have some work to do. What trades for your system would have worked? \u00a0Let me offer some help.<\/p>\n

In the AIG’s of the world think about these trades:<\/p>\n

a) The Pullback: wait for a pullback in AIG, get long, and hold until AIG makes a significant upmove. \u00a0If AIG trades against your entry price, hit AIG, reevaluate, gather information, and buy again at a better price. \u00a0But hold AIG into the significant upmove. \u00a0Do not wuss out and sell the dopey stock 9c into an 80c move.<\/p>\n

b) The Scalp: wait for AIG to trade down too quickly and too far and then scalp the offer, wait for the stock to slow into the upmove, and then sell. \u00a0There are many 30c low risk trades to be made waiting for downmoves to overshoot.<\/p>\n

c) The Held Bid: the safest play is to wait for AIG to pullback and then hold a bid. \u00a0Enter from this held bid and hold into the next significant upmove. \u00a0If the bid drops then hit, reevaluate, gather info, and if a bid is held again just below then buy it back.<\/p>\n

d) Momentum: Buy every new intraday high, and hold until the stock slows, and then sell. \u00a0This play will generally work best the fresher the news. \u00a0With AIG as time passed, the Sell the New High Programs dominated. \u00a0So you had to buy into pullbacks and scrap buying breakouts.<\/p>\n

These are patterns that work for stocks such as AIG on trading days like today. \u00a0You ought to have plays that work for you with an AIG. \u00a0I am going to go home soon and undoubtedly “Old School” will be playing on some movie channel that I have purchased and do not need. \u00a0And like I know that this movie will be somewhere I also am confident that there will be another play like AIG soon. \u00a0And like the great “Old School” they can get better every time.<\/p>\n

Best of luck with your trading! Don’t forget to follow us on Twitter!<\/a><\/p>\n

\"AIG<\/p>\n","protected":false},"excerpt":{"rendered":"

“Have you ever seen anything like that?” asked a new trader. “The news isn’t new,” chirped a trader on Day 18 of his trading career. “AIG traded up from 15 to 23 and I barely made any money how is that possible?” Let’s discuss AIG and all the plays that will be like AIG going forward. 1) There will be … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":1670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[329,4676,30,18],"class_list":["post-1668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-aig","tag-day-trading","tag-prop-trading","tag-smb-capital"],"yoast_head":"\nSeen That, Traded That: AIG | 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\/seen-that-traded-that-aig\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seen That, Traded That: AIG | SMB Training\" \/>\n<meta property=\"og:description\" content=\"“Have you ever seen anything like that?” asked a new trader. “The news isn’t new,” chirped a trader on Day 18 of his trading career. “AIG traded up from 15 to 23 and I barely made any money how is that possible?” Let’s discuss AIG and all the plays that will be like AIG going forward. 1) There will be ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\" \/>\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=\"2009-08-05T22:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-02-20T19:08:20+00:00\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Seen That, Traded That: AIG\",\"datePublished\":\"2009-08-05T22:32:00+00:00\",\"dateModified\":\"2013-02-20T19:08:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\"},\"wordCount\":557,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp\",\"keywords\":[\"AIG\",\"day trading\",\"prop trading\",\"smb capital\"],\"articleSection\":[\"General Comments\",\"Mike Bellafiore's (Bella's) Blogs\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\",\"name\":\"Seen That, Traded That: AIG | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp\",\"datePublished\":\"2009-08-05T22:32:00+00:00\",\"dateModified\":\"2013-02-20T19:08:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Seen That, Traded That: AIG\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\",\"name\":\"Bella\",\"description\":\"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.\",\"sameAs\":[\"https:\/\/www.smbtraining.com\/blog\/bellas-blog\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/bella\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Seen That, Traded That: AIG | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig","og_locale":"en_US","og_type":"article","og_title":"Seen That, Traded That: AIG | SMB Training","og_description":"“Have you ever seen anything like that?” asked a new trader. “The news isn’t new,” chirped a trader on Day 18 of his trading career. “AIG traded up from 15 to 23 and I barely made any money how is that possible?” Let’s discuss AIG and all the plays that will be like AIG going forward. 1) There will be ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2009-08-05T22:32:00+00:00","article_modified_time":"2013-02-20T19:08:20+00:00","author":"Bella","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Bella","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"Seen That, Traded That: AIG","datePublished":"2009-08-05T22:32:00+00:00","dateModified":"2013-02-20T19:08:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig"},"wordCount":557,"commentCount":4,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp","keywords":["AIG","day trading","prop trading","smb capital"],"articleSection":["General Comments","Mike Bellafiore's (Bella's) Blogs"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig","url":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig","name":"Seen That, Traded That: AIG | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp","datePublished":"2009-08-05T22:32:00+00:00","dateModified":"2013-02-20T19:08:20+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#primaryimage","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/08\/AIG-08-05-09.bmp"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/seen-that-traded-that-aig#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Seen That, Traded That: AIG"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161","name":"Bella","description":"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.","sameAs":["https:\/\/www.smbtraining.com\/blog\/bellas-blog"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/bella"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/1668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=1668"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/1668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media\/1670"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=1668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=1668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=1668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}