![\"AAPL](\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/12\/AAPL-12-11-09-and-12-14-09-194.11-level.png\" "\\"AAPL")
<\/p>\n","protected":false},"excerpt":{"rendered":"SMB shares a ton of important price levels with its traders. Occasionally, we tweet these levels to the at large trading community as well. For a skilled intraday trader there is a lot of money to be made trading off of these levels. But without trading skills and an understanding of various trading setups these levels don’t offer much value.<\/p>\n
I would like to discuss an important intraday level that we identifed in AAPL from Friday’s trading action. The level was 194.11 and we were able to use it a bunch of times the past two days. 194.11 acted as a key support level from 12:00pm to the Close on Friday. We highlighted this level as a good place to get long AAPL on the Open if it touched this price. Stocks that gap above prior afternoon’s support tend to bounce off of this level right on the Open.<\/p>\n
Here is a list of the trades that were available at this key price point.<\/p>\n
1) 9:39AM December 14th—long–trade worked quickly bouncing over one point
\n2) 9:57AM December 14th—long–stopped out for a 15 cent loss
\n3) 10:33AM December 14th—short on the pop to this level. trade works with a 75 cent down move
\n4) 10:52AM December 14th—short on the pop to this level. stopped out for a 10 cent loss
\n5) 10:57AM December 14th—long stock once it trades above 194.20 and fails to drop 194.11. beginning of 2+ point up move<\/p>\n
With the exception of trade #5 all of the above trades were fairly easy to execute. But trade #5 offered the most upside. That is why trading skills are key in this profession. If you are unable to execute trade #5 you are giving up about 50% of the winning moves this key price point offered yesterday.<\/p>\n
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