{"id":2344,"date":"2009-10-28T18:56:09","date_gmt":"2009-10-28T23:56:09","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2344"},"modified":"2009-10-28T18:56:09","modified_gmt":"2009-10-28T23:56:09","slug":"give-v-a-chance","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/give-v-a-chance","title":{"rendered":"Give V a Chance"},"content":{"rendered":"

As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. \u00a0Been there. \u00a0Totally understand. \u00a0I am with you. \u00a0Today in V if you did not give it a chance to run then this was a spot on example. \u00a0Today was a day to give V a chance.<\/p>\n

I traded V in the afterhours yesterday after they reported. \u00a0First ticks sent V down towards 71. That is not good. \u00a0But then came a battle at 71. \u00a0And the buyers won. \u00a0And then came another fight at 72. Again the buyers prevailed. \u00a0At 73 the buyers were the victors yet again. \u00a0Same at 74. \u00a0And before I left I noted the volume done at 74.75.<\/p>\n

If you were paying any attention to the market V 75 was a level you could not miss.<\/p>\n

“If V can get above 75………”<\/p>\n

“I need to see V above 75 to add to my position.”<\/p>\n

“I am not a buyer of V till it breaks the key 75 resistance level.”<\/p>\n

Ok so the talking heads had offered their opinions. \u00a0The charts confirmed their banter. \u00a075 was a key level and everyone who trades professionally knew this.<\/p>\n

V is a stock that is easy to understand. \u00a0They make money when you use their credit card. \u00a0Got it. \u00a0Have a few of their logos in my money clip. \u00a0They are about as well known a company as their is. “Visa- It’s everywhere you want to be,” comes easily to mind. \u00a0They are like AAPL or AMZN. \u00a0Oh wait but I foreshadow my next point (remember how they reacted after earnings?). \u00a0V is ripe for those with serious money to dump more new money into if V offers a good report and can trade above 75.<\/p>\n

And guess what? \u00a0That is what we got today.<\/p>\n

And we opened. \u00a0V traded down to 74.80 and then up t0 75.20. \u00a0Basically this was the above\/below program right on the open. \u00a0Brilliant quants, just brilliant. \u00a0But then V cleared 75.20. Now there is not much to say here: “BUY!!!!!!!!!!!!!”<\/p>\n

Not only is this a buy but please- give the stock a chance. \u00a0V is not a stock with all the facts above to trade up a\u00a0measly\u00a025c after the 75.20 offer lifted. \u00a0Let it run. \u00a0If the market was not so weak we might have seen V 80.<\/p>\n

This is a pattern you will see again. \u00a0A well know stock, above an important long term resistance level, and breaking its opening range. \u00a0Buy and hold until there is a Reason to Sell.<\/p>\n

SPECIAL ANNOUNCEMENT<\/strong><\/p>\n

Dr. Steenbarger<\/a> will be visiting SMB Capital tomorrow to offer a special guest lecture. \u00a0Dr. Steenbarger’s presentation will be videotaped and then broadcast this Sunday on StockTwits TV. We will share more of the details later in the week. \u00a0We are looking forward to his visit!<\/p>\n

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

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

As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. \u00a0Been there. \u00a0Totally understand. \u00a0I am with you. \u00a0Today in V if you did not give it a chance to run then this was a spot on example. \u00a0Today was a day to give V a chance. I traded V in the afterhours … 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":[30,376,18],"class_list":["post-2344","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-proprietary-trading-firm","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nGive V a Chance | 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\/give-v-a-chance\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Give V a Chance | SMB Training\" \/>\n<meta property=\"og:description\" content=\"As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. \u00a0Been there. \u00a0Totally understand. \u00a0I am with you. \u00a0Today in V if you did not give it a chance to run then this was a spot on example. \u00a0Today was a day to give V a chance. 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