{"id":2364,"date":"2009-10-30T17:24:51","date_gmt":"2009-10-30T22:24:51","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2364"},"modified":"2023-05-24T17:03:00","modified_gmt":"2023-05-24T21:03:00","slug":"when-not-to-dump-your-stock","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/when-not-to-dump-your-stock","title":{"rendered":"When Not to Dump Your Stock"},"content":{"rendered":"

“Stop the tape,” barked the engaging if not brilliant firm partner (wait till you find out who this describes) during a Video Review Session<\/a>.<\/p>\n

He continued,”What are your thoughts of NVTL presently?”<\/p>\n

A few brave (ill-advised?) noobs blurted,”Move on!” \u00a0And I could swear there was some booing to emphasize their opinion of the NVLT they had just witnessed on the tape.<\/p>\n

The partner shot back,”No!”<\/p>\n

Ok so that partner was me (hey it’s my blog I can describe myself as flatteringly as I would like). The noobs were our new traders. \u00a0This VRS was today at 12:45 PM as we replayed the tape of NVTL from today’s open.<\/p>\n

Often a new trader is challenged to decide when to move on. \u00a0Is this stock just not going to move? \u00a0Is it getting ready to move? \u00a0Should I find a better stock? \u00a0Should I dump that hot new chick I just started dating who emails me like fifty times during the trading day? (again remember she is really hot). \u00a0 What do I do?<\/p>\n

Well in NVTL you sit in your seat, and wait. \u00a0It was not worth dumping for another stock. \u00a0There was significant volume being done in NVTL. \u00a0It gapped down. \u00a0It ticked down on the Open. \u00a0It was in an intraday downtrend and consolidating. \u00a0There was a huge battle at 9.25. \u00a0The next level was not until 8.80, the 200-day-MA.<\/p>\n

Let me be clear, an important part of trading is waiting, watching, and getting ready to pounce. \u00a0You don’t have to be in a trade to be trading. \u00a0 Often it takes some time before your stock(s) is ready to make a significant move.<\/p>\n

The key is the volume, and watching the prints. \u00a0An experienced tape reader can see the interest in the stock from watching the way a stock prints. \u00a0An inexperienced tape reader can also tell by just watching the huge amount of volume done at the same price. \u00a0 It’s all about the volume.<\/p>\n

NVTL was an object of interest to stick with. \u00a0You just had to wait.<\/p>\n

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

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

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