{"id":2247,"date":"2009-10-14T16:14:16","date_gmt":"2009-10-14T21:14:16","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2247"},"modified":"2009-10-14T18:17:52","modified_gmt":"2009-10-14T23:17:52","slug":"letting-an-ipo-run","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/letting-an-ipo-run","title":{"rendered":"Letting an IPO Run"},"content":{"rendered":"

“Bella I cut too early.”<\/p>\n

“Damn I cannot believe I sold that FSLR a point ago.”<\/p>\n

“I am such a wuss FSLR ran 3 points after I sold it.”<\/p>\n

I heard all of these statements on my prop desk today. \u00a0Selling early is a constant struggle for all of us.<\/p>\n

One position that I let run is an IPO holding above a support level. \u00a0VRSK offered us the perfect example today. \u00a027 has been a level. \u00a0VRSK could not trade below 27 intraday. \u00a0So Connor, G, Jeff, and I started a long position. \u00a0There was some resistance that Jeff alerted us of at 27.25. \u00a0At 27.25, my response? \u00a0No sale.<\/p>\n

I buy an IPO at support because I do not want to miss an explosive move. \u00a0From 27 to 27.25 is not an explosive move. \u00a0Bella long. \u00a0Bella not selling.<\/p>\n

Connor and G were fully loaded as well and were not quick to sell. \u00a0Job well done by Jeff for sharing this trading idea, and all of them for executing.<\/p>\n

VRSK found 28.23 into the Close. \u00a0Not a bad move intraday. \u00a029 is our next resistance level. \u00a0We are intraday traders so we lightened up into the Close. \u00a0As I write I am still long some VRSK. \u00a0But I emphasize some.<\/p>\n

Tomorrow I will look for some follow through. \u00a0The kind of follow through I did not see after a similar day in another IPO AONE yesterday.<\/p>\n

For those searching for set ups to let run. \u00a0This is one for me.<\/p>\n

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

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

“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today. \u00a0Selling early is a constant struggle for all of us. One position that I let run is an IPO holding … 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":[371,50,18,372],"class_list":["post-2247","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-ipo","tag-proprietary-trading","tag-smb-capital","tag-vrsk","no-post-thumbnail"],"yoast_head":"\nLetting an IPO Run | 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\/letting-an-ipo-run\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Letting an IPO Run | SMB Training\" \/>\n<meta property=\"og:description\" content=\"“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today. \u00a0Selling early is a constant struggle for all of us. 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