{"id":17163,"date":"2012-02-09T11:49:42","date_gmt":"2012-02-09T16:49:42","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=17163"},"modified":"2012-02-09T11:49:42","modified_gmt":"2012-02-09T16:49:42","slug":"pep-refreshing-on-the-open-trade","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/pep-refreshing-on-the-open-trade","title":{"rendered":"PEP refreshing on the open trade"},"content":{"rendered":"

PEP (Pepsico, Inc.) offered an easy momentum trade on the open.<\/p>\n

INTRADAY FUNDAMENTALS<\/strong><\/p>\n

PepsiCo fell 4.3 percent to $63.87 at 9:57 a.m. in New York. The shares rose 1.6 percent last year, while Coca-Cola gained 6.4 percent.<\/p>\n

Fourth-quarter net income advanced to $1.42 billion, or 89 cents a share, from $1.37 billion, or 85 cents, a year earlier, PepsiCo said in a separate statement. Excluding some items, profit was $1.15 a share, beating the $1.12 average of analysts\u2019 estimates<\/a> compiled by Bloomberg.<\/p>\n

Sales climbed 11 percent to $20.2 billion. Analysts\u2019 average estimate was $20 billion.<\/p><\/blockquote>\n

It was gapping down on the open.<\/p>\n

64 was a level on our longer term technicals.<\/p>\n

\"\"<\/a><\/p>\n

On the tape there was a battle at 64.75 and the buyer dropped.\u00a0 This was a nice short entry. I expected PEP to move away quickly from this price.\u00a0 It didn’t and did not trade below 65c.<\/p>\n

So I thought:<\/p>\n

a) maybe PEP is just not ready to trade lower and will be slow to develop<\/p>\n

b) if PEP doesn’t trade above 64.75 and then holds below 64.65 I really like that pattern<\/p>\n

c) if PEP touches 76c I will get flat.<\/p>\n

PEP choose B and this offered an even better entry on the short side below 65c.\u00a0 Sometimes it takes a stock a little bit of time to develop and for more to pile onto one side.\u00a0 This happened below 65c.\u00a0 PEP move nicely away from this price and traded down cleanly to 25c.\u00a0 Failed there and then found 64 our important technical level.<\/p>\n

I stayed with the short as PEP traded below 64.\u00a0 The market got weaker.\u00a0 I expected PEP to find much lower ground.\u00a0 It didn’t.\u00a0 In fact I tweeted:<\/p>\n

\n
\n

smbcapital <\/a><\/p>\n

\"\"PEP<\/a><\/div>\n<\/div>\n
showing relative strength- odd since in an intraday downtrend. below 63.80 will look 2 add 2 short. holds down here will get flat.<\/div>\n<\/blockquote>\n
GMan got long into 63.85 because of the relative strength.\u00a0 I held but adjusted my stop lower and got stopped out at 64.02.<\/div>\n
<\/div>\n
\"\"<\/a><\/div>\n
<\/div>\n
Bella<\/div>\n
One Good Trade<\/a><\/div>\n

\"\"<\/a><\/p>\n

no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

PEP (Pepsico, Inc.) offered an easy momentum trade on the open. INTRADAY FUNDAMENTALS PepsiCo fell 4.3 percent to $63.87 at 9:57 a.m. in New York. The shares rose 1.6 percent last year, while Coca-Cola gained 6.4 percent. Fourth-quarter net income advanced to $1.42 billion, or 89 cents a share, from $1.37 billion, or 85 cents, a year earlier, PepsiCo said … 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":[2005,1193,653,1996,1354,1989,1349],"class_list":["post-17163","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-pep","tag-trader-education","tag-trader-training","tag-trading-class","tag-trading-coach","tag-trading-course","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nPEP refreshing on the open trade | 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\/pep-refreshing-on-the-open-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PEP refreshing on the open trade | SMB Training\" \/>\n<meta property=\"og:description\" content=\"PEP (Pepsico, Inc.) offered an easy momentum trade on the open. INTRADAY FUNDAMENTALS PepsiCo fell 4.3 percent to $63.87 at 9:57 a.m. in New York. The shares rose 1.6 percent last year, while Coca-Cola gained 6.4 percent. Fourth-quarter net income advanced to $1.42 billion, or 89 cents a share, from $1.37 billion, or 85 cents, a year earlier, PepsiCo said ... 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