{"id":284,"date":"2009-01-05T22:58:08","date_gmt":"2009-01-06T03:58:08","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=284"},"modified":"2009-01-06T09:13:13","modified_gmt":"2009-01-06T14:13:13","slug":"were-back","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/were-back","title":{"rendered":"We&#8217;re Back"},"content":{"rendered":"<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-1-day-chart-1-5.bmp\" title=\"Apple 1-day\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-3-month-1-5.bmp\" title=\"AAPL 3-month\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-3-month-1-5.bmp\" title=\"AAPL 3-month\"><\/a>It was good to get back to work today.\u00a0 Glad to put the low volume holiday trading in the rear view mirror.\u00a0 And looking to see how we start the year.\u00a0 Today was the first day of our January class.\u00a0 Nine talented, eager, new trainees.\u00a0 I saw two working way too hard today as Steve and I left.\u00a0 Steve and I had a spirited debate about a new seating chart that took about an hour longer than either of us had.\u00a0 And so we didn&#8217;t get out until late.\u00a0 And there were two new trainees still working.\u00a0 We now have some evidence as to who will be the two best traders in this class.<\/p>\n<p>I traded\u00a0 AAPL on the Open.\u00a0 It was a difficult stock.\u00a0 AAPl traded above and below it&#8217;s opening of 93.15ish.\u00a0 So the first two moves were tricky.\u00a0 AAPL did hold above it&#8217;s opening price and traded cleanly up to 94.20.\u00a0 The move from 93.20 to 94.20 was easy.\u00a0 There was some resistance at 94.20.\u00a0 The bid could not hold at 94.20.\u00a0 Finally the bid did hold the 94.20 bid and I aggressively paid the 94.25 decrementing offer.\u00a0 Why?<\/p>\n<p>AAPl was in an intraday uptrend.\u00a0 The 20c bid finally had held.\u00a0 The 25c offers were decrementing.\u00a0 <a href=\"http:\/\/www.smbtraining.com\">Technically<\/a> AAPL looked promising after a strong session on Friday.\u00a0 Fundamentally Mr. Job&#8217;s letter providing color on his health brought some premarket buying.\u00a0 Mr. Job&#8217;s health had weighed AAPL down recently.\u00a0 Rumors that he was ill caused AAPL to trade significantly lower on multiple occasions last quarter.\u00a0 The Street dislikes uncertainty.\u00a0 So his letter provided some clarity that some new buyers had sought.<\/p>\n<p>Paying the 25c offer didn&#8217;t work.\u00a0 It was <a href=\"http:\/\/www.smbtraining.com\">good trade<\/a>.\u00a0 I would make the trade again.\u00a0 It was a trade normally with a win rate of eighty percent, with a downside of 5c and and upside of 50cplus.\u00a0 This aggressive trade just happened to fall into that 20 percent category that fail.<\/p>\n<p>And then AAPL got weak.\u00a0 It started an intraday downtrend.\u00a0 This was an easy play as well.\u00a0 The move down towards 93.15 was slow, steady, and easy to game.\u00a0 Then SPY suddenly gained some strength around 92.15ish and AAPL reversed.\u00a0 Some might argue that AAPL bounced off of its opening price.\u00a0 Some might argue that I should have bought around 93.15ish again and expected support.\u00a0 I would respectfully disagree.\u00a0 The move down was slow and steady.\u00a0 AAPL was in a clear intraday downtrend.\u00a0 The sellers had won at 93.25-.30 after the most intraday volume at this level.\u00a0 AAPL just turned because the market got stronger and not because of its opening price support.\u00a0 This was a hard move to game.\u00a0 And I got beat up a bit in this reversal.<\/p>\n<p>Choosing AAPL on the open was a good decision.\u00a0 It just was one of those days where it was difficult for me to trade considering my trading style.\u00a0 But we learned a very significant level today in AAPL.\u00a0 Perhaps tomorrow we can use the 94.50 level to profit. \u00a0 There was a ton of buying at the 94.50 level into the Close though the market got very weak. Perhaps tomorrow will offer some chops that today didn&#8217;t for me.<\/p>\n<p>Best of luck with your trading!<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-1-day-chart-1-5.bmp\" title=\"Apple 1-day\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-1-day-chart-1-5.bmp\" alt=\"Apple 1-day\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-3-month-1-5.bmp\" title=\"AAPL 3-month\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-3-month-1-5.bmp\" alt=\"AAPL 3-month\" \/><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/aapl-3-month-1-5.bmp\" title=\"AAPL 3-month\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was good to get back to work today.\u00a0 Glad to put the low volume holiday trading in the rear view mirror.\u00a0 And looking to see how we start the year.\u00a0 Today was the first day of our January class.\u00a0 Nine talented, eager, new trainees.\u00a0 I saw two working way too hard today as Steve and I left.\u00a0 Steve and &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/were-back\" class=\"more-link\">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":[10],"tags":[4676,30,18],"class_list":["post-284","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>We&#039;re Back | 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\/were-back\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We&#039;re Back | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It was good to get back to work today.\u00a0 Glad to put the low volume holiday trading in the rear view mirror.\u00a0 And looking to see how we start the year.\u00a0 Today was the first day of our January class.\u00a0 Nine talented, eager, new trainees.\u00a0 I saw two working way too hard today as Steve and I left.\u00a0 Steve and ... 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