I received this comment about my last blog Second Day Play- STJ. \u00a0Let’s discuss.<\/p>\n
Bella<\/p>\n
Very interesting and insightful blog post, i have some questions<\/p>\n
1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely?<\/p>\n
2.like you said the upper range from the prior day is 34.25, what was your exit for the short position, above 34.00, buying above 34.00, or above 35.25<\/p>\n
3.would you go long above 34.00 considering the weak close from the prior day<\/p>\n
4.what makes you conclude that 34.00 is a lvl, did it not get penetrated a dozen times on tuesday?<\/p>\n
Appreciate your response and happy trading,<\/p>\n
lil steve<\/p>\n
Bella Responds<\/strong><\/p>\n Piker High Bid stepping up may have been a sign of strength. \u00a0But doing so so early on the Open and the way he was stepping up seemed odd to me. \u00a0My sense was when Piker High Bid got hit and dropped that STJ had an excellent chance to trade down to 33. \u00a0Coupled with resistance at 34 hitting the Piker High Bid at 33.95 offered an excellent risk\/reward intraday trade.<\/p>\n If STJ would have traded through the whole I would have covered half. \u00a0I would have covered the rest above an even more significant resistance level of 34.25.<\/p>\n Interestingly I shorted STJ today at 34.25 as this is a significant resistance level. \u00a0I tweeted this idea in real time. \u00a0And I covered into the dowmove below 34. \u00a0I will play this 34.35 on both sides. \u00a0If STJ holds above the level I will get long. \u00a0But as long as it has trouble trading above 34.25 I will trade it from the short side. \u00a0A longer term target is 33. \u00a0A shorter term target is 33.85ish.<\/p>\n Finally 34 was a level because there was some volume done there after STJ failed at 34.25. \u00a0And then STJ traded down to 33. \u00a0So for us 34 and 34.25 were levels. \u00a0Certainly 34.25 was the more significant level.<\/p>\n Much more importantly looking forward to Game 2 tonight at the Stadium. \u00a0As I write I have tickets in the LF\u00a0bleachers\u00a0(my dad got them) but looking to buy better seats. \u00a0However I absolutely refuse to pay more than $150 for seats. \u00a0Paying more than this for a game, show, dinner is my absolute cut off. \u00a0Anything more expensive than this and it ruins the event for me. \u00a0And this is not the ALDS. \u00a0I cannot believe the prices I see on StubHub. \u00a0And I am a huge Yankees fan with the means to pay pretty much whatever I want for a ticket. \u00a0It is impossible to find a good seat for $150 or less. \u00a0I thought our economy was hurting? \u00a0Anyway I have my bid in at $150 and am not paying higher. \u00a0If I don’t get hit I will just sit in the outfield.<\/p>\n","protected":false},"excerpt":{"rendered":"