{"id":3521,"date":"2010-01-26T18:12:23","date_gmt":"2010-01-26T23:12:23","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=3521"},"modified":"2010-01-26T18:12:23","modified_gmt":"2010-01-26T23:12:23","slug":"a-day-traders-dream","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-day-traders-dream","title":{"rendered":"A Day Trader&#8217;s Dream"},"content":{"rendered":"<p>You couldn&#8217;t ask for anything more than AAPL provided today.  A selloff that began in the premarket from 208 that ended when a large buyer began accumulating at 203.40.  An uptrend that once above 208 offered more than five points of upside.  And a downtrend into the close that began with a hard down move through 211 and ended from pure exhaustion at 204.50.<\/p>\n<p>Trading AAPL well today required that I use all three of my primary trading tools: Reading the Tape, Intraday Fundamentals, and Technical Analysis.<\/p>\n<p>The primary trades I made were:<\/p>\n<p>1) Short on the Open at 206 based on the hard premarket selloff from 208. Covered between 204.50-203. Chop!<br \/>\n2) Long at 203.50 after a significant buyer at 203.40 caused an up move to 204.50. Was a little scary buying into the pullback but caught a nice move to 205. Chop!<br \/>\n3) Short at the opening price of 206. Small rip.<br \/>\n4) Long above 208. small rip when 207.80 dropped.<br \/>\n5) Long above 208.30.  Chop!!!!!! Sold most around 210.50.<br \/>\n6) Short below 212.40. Small chop!<br \/>\n7) Long 211.50 for a possible move back to the highs.  Lightened up at 212 and hit the rest below 211 for a breakeven trade.<br \/>\n8) Missed the down move from 211 to 205 as I had a bunch of firm stuff to take care of. Rip!!<\/p>\n<p>Normally, I would think this type of close is a very bearish sign for AAPL.  But honestly, the market is somewhat loco right now and there are so many players trying to game each other that I&#8217;m going to look at AAPL with a fresh eye tomorrow.  I heard at least three traders on our desk with less than one year&#8217;s experience chirping about how AAPL would selloff with the launch of their new product tomorrow.  When something becomes the conventional wisdom it no longer provides a trading edge.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/aapl-greatness.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/aapl-greatness-300x176.png\" alt=\"\" title=\"aapl greatness\" width=\"300\" height=\"176\" class=\"alignnone size-medium wp-image-3525\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/aapl-greatness-300x176.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/aapl-greatness.png 502w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You couldn&#8217;t ask for anything more than AAPL provided today. A selloff that began in the premarket from 208 that ended when a large buyer began accumulating at 203.40. An uptrend that once above 208 offered more than five points of upside. And a downtrend into the close that began with a hard down move through 211 and ended from &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/a-day-traders-dream\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8],"tags":[507,425,581,144],"class_list":["post-3521","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","tag-a","tag-day","tag-dream","tag-trader","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>A Day Trader&#039;s Dream | 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\/a-day-traders-dream\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Day Trader&#039;s Dream | SMB Training\" \/>\n<meta property=\"og:description\" content=\"You couldn&#8217;t ask for anything more than AAPL provided today. A selloff that began in the premarket from 208 that ended when a large buyer began accumulating at 203.40. An uptrend that once above 208 offered more than five points of upside. And a downtrend into the close that began with a hard down move through 211 and ended from ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/a-day-traders-dream\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-01-26T23:12:23+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/aapl-greatness-300x176.png\" \/>\n<meta name=\"author\" content=\"sspencer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sspencer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script 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