{"id":2315,"date":"2009-10-23T16:04:10","date_gmt":"2009-10-23T21:04:10","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2315"},"modified":"2009-10-23T16:10:00","modified_gmt":"2009-10-23T21:10:00","slug":"meet-mr-catalyst-cof-42-30","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/meet-mr-catalyst-cof-42-30","title":{"rendered":"Meet Mr. Catalyst (COF 42.30)"},"content":{"rendered":"

Not every moment is created equal during the trading day. \u00a0I fought and grinded and fought some more in COF today. \u00a0Some moments were more enjoyable than others. \u00a0But there was one shining moment. \u00a0One period of time that made all the difference. \u00a0 Meet 42.30. \u00a0Say hello to the catalyst.<\/p>\n

It’s 10:45ish. \u00a0My eyes are starting to twitch from an hour plus of staring at funny seemingly random numbers scrolling up and down and across my four trading screens. \u00a0My stomach growls as my 7:30AM protein bar now leaves me hungry. \u00a0A stop to the mens room might be a good idea.<\/p>\n

But this is the moment so I place my physical desires aside. \u00a0At 42.30 there is a huge battle spotted on the tape. \u00a0My charts confuse each other, like a Democrat talking to a Republican about taxes, because COF is right at the trend line. \u00a0This is now both hands on the wheel, I must catch the next move in COF trading. \u00a0This will determine my day floods my thoughts. \u00a0This trade. \u00a0Right now.<\/p>\n

And so what happened? \u00a0There was an unusual hold on the offer at 42.30. \u00a0I am short. \u00a0I am short multiple lots. \u00a0 42.30 lifts, I flip, now I am long multiple lots. \u00a0COF does not explode so I sell. \u00a0I got caught with one lot as this is just a fake breakout and now my best sale is 42. \u00a0Ouch!<\/p>\n

I weasel out of some at 42.07 and 42.09 and 41.90 (this is not a good price). \u00a0Admittedly I am not happy. \u00a0My orders beforehand had not been treated well. \u00a0It was like I had to spot the Specialist 1k to play at his table. \u00a0He could have just saved some time, met me at my office, asked for 1k check, and then started the trading day. \u00a0And now this rip. \u00a0These are the days that make me consider writing briefs for a living.<\/p>\n

There were some positives even given the nonsense of above. \u00a0I did have my downtrend again in COF. \u00a0And the sellers had won the fight at 42.30. \u00a0The next level in COF was much lower. \u00a0I started a short position, a longer term intraday short position. \u00a0And that worked.<\/p>\n

We see important intraday levels everyday. \u00a0Today in COF for all the explanations given why it ought to go up and down the real reason was the sellers won at 42.30. \u00a0You don’t have to catch the first move above or below these levels. \u00a0You just have to hang in there. \u00a0Spot the level, follow the trend, and feed off of this catalyst.<\/p>\n

Enjoy your weekend. Don’t forget to follow us<\/a> on Twitter!<\/p>\n

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

Not every moment is created equal during the trading day. \u00a0I fought and grinded and fought some more in COF today. \u00a0Some moments were more enjoyable than others. \u00a0But there was one shining moment. \u00a0One period of time that made all the difference. \u00a0 Meet 42.30. \u00a0Say hello to the catalyst. It’s 10:45ish. \u00a0My eyes are starting to twitch from … 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":[375,374,18],"class_list":["post-2315","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-cof","tag-intraday-level","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nMeet Mr. Catalyst (COF 42.30) | 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\/meet-mr-catalyst-cof-42-30\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet Mr. Catalyst (COF 42.30) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Not every moment is created equal during the trading day. \u00a0I fought and grinded and fought some more in COF today. \u00a0Some moments were more enjoyable than others. \u00a0But there was one shining moment. \u00a0One period of time that made all the difference. \u00a0 Meet 42.30. \u00a0Say hello to the catalyst. 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