{"id":23463,"date":"2013-01-22T17:16:04","date_gmt":"2013-01-22T22:16:04","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=23463"},"modified":"2023-05-23T16:56:56","modified_gmt":"2023-05-23T20:56:56","slug":"my-thought-process-for-trv","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/my-thought-process-for-trv","title":{"rendered":"My thought process for TRV"},"content":{"rendered":"

Today I live tweeted @stocktwits and traded TRV.\u00a0 Below are my tweets and an expansion on my thinking.\u00a0 I have attached the intraday chart for your review as well.<\/p>\n

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

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

–What I saw here was auto buying at 78.60.\u00a0 Anytime someone offered 60c that offer was cleared immediately.\u00a0 We say there was a “hunt order to buy” at 60c.\u00a0 Once an offer could hold 78.60, was not cleared immediately, me and a few around me hit the bids and got short(er).\u00a0 TRV fell steeply to 78.13.\u00a0 Noticing this one change on the tape was the catalyst for the downmove.<\/p>\n

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

–Because TRV had such a steep downmove below 60c, my focus was to add to my core short into a retracement.\u00a0 I did cover some into the steep downmove but now I wanted to short some more into a pop higher.\u00a0 When TRV found 40c I added to my core short.\u00a0 I was willing to add to my short until it held about 60c, the signal I was wrong.<\/p>\n

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

–Stock selection is key for the intraday trader.\u00a0 When you see a move like this there is nowhere to go.\u00a0 Stocks do not fail very often from support like TRV did at 60c.\u00a0 Stay.\u00a0 Trade this stock more.\u00a0 It is paying you.\u00a0 Take more from this stock until you are proven wrong.<\/p>\n

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

—<\/p>\n

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

–I was expecting TRV to break below 78 and make new lows.\u00a0 This did not happen.\u00a0 As a result I wanted to lighten up on my shorts and not short into an upmove.\u00a0 The risk\/reward was not as great that TRV would continue lower.\u00a0 Thus I wanted to now risk less with the trade.<\/p>\n

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

TRV spiked too much for my taste after touching a new low.\u00a0 For me this was a reason to be less excited about the play.\u00a0 I wanted to lighten up from my core position even more.\u00a0 I was still short.\u00a0 I just did not want to be as short.<\/p>\n

I covered what remained of my core at 77.96 about 15 minutes before the close.<\/p>\n

I hope this gives you some insight into my thought process trading TRV today.\u00a0 HT to @sspencer_smb for this blog idea.\u00a0 I would be happy to answer any of your questions at mbellafiore@smbcap.com or in the comments section.<\/p>\n

Trade well.<\/p>\n

\n
\"\"Mike Bellafiore<\/div>\n<\/div>\n

One Good Trade<\/a><\/p>\n

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

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

Today I live tweeted @stocktwits and traded TRV.\u00a0 Below are my tweets and an expansion on my thinking.\u00a0 I have attached the intraday chart for your review as well. –What I saw here was auto buying at 78.60.\u00a0 Anytime someone offered 60c that offer was cleared immediately.\u00a0 We say there was a “hunt order to buy” at 60c.\u00a0 Once an … Read More<\/a><\/p>\n","protected":false},"author":1036,"featured_media":23470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[],"class_list":["post-23463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs"],"yoast_head":"\nMy thought process for TRV | 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\/my-thought-process-for-trv\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"My thought process for TRV | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Today I live tweeted @stocktwits and traded TRV.\u00a0 Below are my tweets and an expansion on my thinking.\u00a0 I have attached the intraday chart for your review as well. –What I saw here was auto buying at 78.60.\u00a0 Anytime someone offered 60c that offer was cleared immediately.\u00a0 We say there was a “hunt order to buy” at 60c.\u00a0 Once an ... 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