{"id":2754,"date":"2009-11-30T16:25:17","date_gmt":"2009-11-30T21:25:17","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2754"},"modified":"2009-11-30T16:45:22","modified_gmt":"2009-11-30T21:45:22","slug":"aig-pulls-me-back-in","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/aig-pulls-me-back-in","title":{"rendered":"AIG Pulls Me Back In"},"content":{"rendered":"

I wasn’t planning on trading AIG. \u00a0I thought SEED would consume most of my attention. \u00a0 Actually I thought I could establish a decent size position in SEED, sit back, and enjoy the ride. \u00a0I would let the MoMo hedge fund traders do their thing. \u00a0Who am I to get in the way of a low volume market pattern?<\/p>\n

SEED above 12 was an excellent trading opportunity. \u00a0But while SEED was not moving AIG called for me.<\/p>\n

“Bella get in there.”<\/p>\n

“Mike you don’t want to miss a break down in me today.”<\/p>\n

And so I nibbled. \u00a0When I just start trading a stock I like to feel its strength and weakness by trading in and out of it with small size. \u00a0I can tell by how easy it is to get hit on the bid and possibly how difficult it is to get taken on the offer just how weak an AIG is. \u00a0 AIG was weak on the tape. \u00a0And it was easy to get hit on the bid and hard to get shorts on the offer. \u00a0The next significant long term support level after I started trading it was 30.<\/p>\n

31.50 became an important intraday level. \u00a031.51 kinda held the bid and AIG spiked to 32. \u00a0But then AIG found 31.50 again and all the fun began. \u00a0The first momentum trade below this level did not work. \u00a0No worries. \u00a0I have nothing else to do. \u00a0Maybe the second time? \u00a0Nope. \u00a0Again no big deal. \u00a0My SEED was not really moving much so AIG had my attention.<\/p>\n

Finally I noticed something different on the tape. \u00a031.50 offers were not getting cleared as they were before. \u00a0And then 31.45 was not lifting the offer after 31.43 did some unusual volume for such a punk level. \u00a0I got short. \u00a0This was a Trade2Hold. \u00a0This trade really worked. \u00a0What is that saying? “If at first you don’t succeed…..” \u00a0Anyway, Chop!<\/p>\n

So I am back in the AIG game. \u00a0Didn’t necessarily want to be but these things are not always up to me. \u00a0Mother Market decides and my job is take what she is offering. \u00a0On this light volume, hang over holiday trading session, it was all AIG, all the time.<\/p>\n

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

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

I wasn’t planning on trading AIG. \u00a0I thought SEED would consume most of my attention. \u00a0 Actually I thought I could establish a decent size position in SEED, sit back, and enjoy the ride. \u00a0I would let the MoMo hedge fund traders do their thing. \u00a0Who am I to get in the way of a low volume market pattern? SEED … 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":[329,50,18],"class_list":["post-2754","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-aig","tag-proprietary-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nAIG Pulls Me Back In | 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\/aig-pulls-me-back-in\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIG Pulls Me Back In | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I wasn’t planning on trading AIG. \u00a0I thought SEED would consume most of my attention. \u00a0 Actually I thought I could establish a decent size position in SEED, sit back, and enjoy the ride. \u00a0I would let the MoMo hedge fund traders do their thing. \u00a0Who am I to get in the way of a low volume market pattern? 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