{"id":1694,"date":"2009-08-07T18:35:44","date_gmt":"2009-08-07T23:35:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1694"},"modified":"2009-08-07T18:35:44","modified_gmt":"2009-08-07T23:35:44","slug":"trade2hold-aig","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trade2hold-aig","title":{"rendered":"Trade2Hold AIG"},"content":{"rendered":"

It is fun to see the desk trading so well the past few weeks. \u00a0June was a tough month. \u00a0July was much better. \u00a0And this month is starting like August of 07. \u00a0And that was a great month. \u00a0Today we traded AIG, the home builders, and ETF’s. \u00a0And AIG offered an excellent Trade2Hold that we should discuss.<\/p>\n

AIG opened and quickly traded down a few points to 25. \u00a0It started a range of between 24.90 and 25.10. \u00a0Then AIG seemed to break out above….. Fake breakout. \u00a0And then AIG appeared to breakdown below 24.90….. Fake breakdown. \u00a0Greaaaaaat! \u00a0That is always fun.<\/p>\n

So I started the day getting caught in a fake break out and then a fake break down. \u00a0But the day doesn’t end until 4PM so there was time to build a day. \u00a0The nonsense of really just above 25 and below 25 continued some more.<\/p>\n

But I hung in there. \u00a0I kept my losses at a minimum. \u00a0And then it came. \u00a0The bullish flag was created. \u00a0A gift from the trading gods had been delivered. \u00a0I had a set up to crush.<\/p>\n

What happened Bella? \u00a0AIG finally made an explosive move above 25.30, intraday resistance, traded strongly on high volume to 25.75, and consolidated. \u00a0As GMan would say,” It’s party time.”<\/p>\n

AIG met resistance at 25.75 but really it was accumulating stock for its next upmove. \u00a0AIG held above 25.75 finally and the stock started an uptrend to 29. \u00a0This was a trade you must be in. \u00a0Long above 25.75 as a Trade2Hold was the play.<\/p>\n

Now with an AIG, a momentum stock, it is important to lighten up when you spot resistance. \u00a0You never know when the buying will dissipate (anyone see the downmove from 29 to 26…….What the ARod?). \u00a0 But I held a core for most of this move, lightening up when I spotted unusual resistance. \u00a027.50 was such a spot. \u00a0Above 27.50 we reloaded. \u00a028.95 was such a spot, which was a little fortunate as that nasty three point downmove was about to hit.<\/p>\n

As intraday traders we must find set ups<\/a> where we can hold for longer term moves. \u00a0This is such a time. \u00a0Learn this bullish flag pattern and add it to your quiver.<\/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":"

It is fun to see the desk trading so well the past few weeks. \u00a0June was a tough month. \u00a0July was much better. \u00a0And this month is starting like August of 07. \u00a0And that was a great month. \u00a0Today we traded AIG, the home builders, and ETF’s. \u00a0And AIG offered an excellent Trade2Hold that we should discuss. AIG opened and … 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":[1,10],"tags":[329,346,18],"class_list":["post-1694","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-aig","tag-bullish-flag","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nTrade2Hold 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\/trade2hold-aig\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade2Hold AIG | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It is fun to see the desk trading so well the past few weeks. \u00a0June was a tough month. \u00a0July was much better. \u00a0And this month is starting like August of 07. \u00a0And that was a great month. \u00a0Today we traded AIG, the home builders, and ETF’s. \u00a0And AIG offered an excellent Trade2Hold that we should discuss. 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