{"id":2563,"date":"2009-11-18T17:08:04","date_gmt":"2009-11-18T22:08:04","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2563"},"modified":"2009-11-18T17:08:04","modified_gmt":"2009-11-18T22:08:04","slug":"what-a-strong-stock-looks-like","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/what-a-strong-stock-looks-like","title":{"rendered":"What a Strong Stock Looks Like"},"content":{"rendered":"

DE was a strong stock this AM. \u00a0I blog this point besides DE being at its 52 week high. \u00a0And save that DE was up over 2 1\/2 points. \u00a0 There was a telling movement on the open from 51.50 to 51 which foreshadowed a new intraday high to visit. \u00a0Let’s discuss.<\/p>\n

SPY 111.50 is an important intraday level. \u00a0We failed miserably there this open at around 111.42. \u00a0The downmove was ugly to 110.60. \u00a0During this downmove in the market I watched the bids get hit in DE. \u00a0I suspected that DE would find lower ground since the market became so weak as SPY tanked. \u00a0But there was significant buying on the bid at 51.45, when 51.50 was DE’s high. \u00a0And then 40c bought before FINALLY dropping. \u00a0And then 35c repeated this buy pattern. \u00a0And then 30c. \u00a0And then 25c. \u00a0 Then 20c, and 15c, and the whole.<\/p>\n

Yes DE traded lower but it showed noteworthy relative strength into the SPY dip. \u00a0So when SPY stabilized I started a longer term intraday position in DE near 51. \u00a0Fast forward and DE found 52.25. \u00a0Some on our desk got shaken out into this downmove. \u00a0 Maybe one day these traders will become as good as me \ud83d\ude42 (just kidding).<\/p>\n

I use this technique, calculating the strength of the stock by watching the bid buying into a downmove, to determine which stocks to enter longer term intraday postions. \u00a0DE Buy 51 was an excellent intraday trading opportunity.<\/p>\n

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

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

DE was a strong stock this AM. \u00a0I blog this point besides DE being at its 52 week high. \u00a0And save that DE was up over 2 1\/2 points. \u00a0 There was a telling movement on the open from 51.50 to 51 which foreshadowed a new intraday high to visit. \u00a0Let’s discuss. SPY 111.50 is an important intraday level. \u00a0We … 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":[4676,384,50,18],"class_list":["post-2563","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-de","tag-proprietary-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nWhat a Strong Stock Looks Like | 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\/what-a-strong-stock-looks-like\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What a Strong Stock Looks Like | SMB Training\" \/>\n<meta property=\"og:description\" content=\"DE was a strong stock this AM. \u00a0I blog this point besides DE being at its 52 week high. \u00a0And save that DE was up over 2 1\/2 points. \u00a0 There was a telling movement on the open from 51.50 to 51 which foreshadowed a new intraday high to visit. \u00a0Let’s discuss. 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