{"id":354,"date":"2009-02-07T10:29:55","date_gmt":"2009-02-07T15:29:55","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=354"},"modified":"2009-02-07T11:33:14","modified_gmt":"2009-02-07T16:33:14","slug":"a-core-position-hig","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-core-position-hig","title":{"rendered":"A Core Position (HIG)"},"content":{"rendered":"<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09.bmp\" title=\"HIG 02-06-09\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09-with-text.bmp\" title=\"HIG 02-06-09 with text\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09-with-text.bmp\" title=\"HIG 02-06-09 with text\"><\/a>Our firm did a great job establishing a core position in HIG yesterday.\u00a0 GMan was grinding it out in HIG during the lunch hours.\u00a0 Numerous times he was long waiting for HIG to break above 11.50 and it just couldn&#8217;t.\u00a0 And then HIG would return to 11.\u00a0\u00a0 Looking at the intraday chart a new trader might have concluded that HIG was just trading in a range.\u00a0 But GMan sensed from his <a href=\"http:\/\/www.smbtraining.com\">trading skills<\/a> that HIG was likely to break out.<\/p>\n<p>So he kept with HIG.\u00a0 And I could hear his frustration at times, &#8220;Let&#8217;s go already HIGGY.&#8221;\u00a0 GMan called out that we all ought to watch HIG.\u00a0 That it was getting ready to break to the upside.\u00a0 It did.\u00a0 And most on the desk made huge chops holding a core above 11.50.\u00a0 GMan went from negative to well over 3k very quickly.<\/p>\n<p>HIG was not the greatest day trading stock.\u00a0 It was difficult to trade around your core.\u00a0 HIG was more of a position stock.\u00a0 When we spot a huge intraday level like 11.50 in HIG, and the stock is IN Play, our traders will hold a core from 11.50.\u00a0 If HIG trades below 11.50 then they will exit.\u00a0 But this is a Trade to Hold.\u00a0 We do not sell until we see a Reason to Sell.\u00a0\u00a0 The stock must clearly show us its weakness.\u00a0 I added size around my core as the stock traded higher and padded my gains.<\/p>\n<p>When a stock is in play it is not likely to just trade in a range from 11-11.50.\u00a0 We watch HIG like a hawk because most likely HG will either break down below 11 or break out above 11.50.\u00a0 This is one of the advantages to trading a stock in play.\u00a0 The stock eventually will really move.\u00a0 And you can see that HIG did.\u00a0 This cheap stock moved cleanly 1.5 points above the intraday resistance level, 11.50.<\/p>\n<p>HIG was slow.\u00a0 I was surprised that it did not close higher.\u00a0 It appeared to have more legs than just 13.\u00a0 When HIG traded above 12.95 into the Close, which had become a new intraday resistance level, I thought we would see another explosive move up.\u00a0 We didn&#8217;t.\u00a0 And when 12.99 showed weakness I exited most of my position.<\/p>\n<p>I held my core position until the Close.\u00a0 I suppose I could have made another 50c if I had exited HIG near 13.\u00a0 But this was a Trade to Hold.\u00a0 And I never spotted enough selling to exit my core from 11.50.\u00a0 I never spotted a Reason to Sell.\u00a0 Before the bell I sold HIG at 12.57.\u00a0 Chop!\u00a0 I will set alerts for 13 and 11.50 on Monday.<\/p>\n<p>And btw GMan did not skip lunch.\u00a0 Apparently our desk thinks lunch ought to start at 11:15.\u00a0 I am certain G and Connor are responsible for this.\u00a0 I swear I can hear them chirping what&#8217;s for lunch at 11.<\/p>\n<p>Really good stuff by GMan pulling the desk up on Friday.\u00a0 Very nice job by SMB making chops in HIG yesterday.<\/p>\n<p>Enjoy your weekend.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09-with-text.bmp\" title=\"HIG 02-06-09 with text\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09-with-text.bmp\" alt=\"HIG 02-06-09 with text\" \/><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09-with-text.bmp\" title=\"HIG 02-06-09 with text\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/hig-02-06-09.bmp\" title=\"HIG 02-06-09\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our firm did a great job establishing a core position in HIG yesterday.\u00a0 GMan was grinding it out in HIG during the lunch hours.\u00a0 Numerous times he was long waiting for HIG to break above 11.50 and it just couldn&#8217;t.\u00a0 And then HIG would return to 11.\u00a0\u00a0 Looking at the intraday chart a new trader might have concluded that HIG &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/a-core-position-hig\" 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":[4676,35,30,18],"class_list":["post-354","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-money","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>A Core Position (HIG) | 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-core-position-hig\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Core Position (HIG) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Our firm did a great job establishing a core position in HIG yesterday.\u00a0 GMan was grinding it out in HIG during the lunch hours.\u00a0 Numerous times he was long waiting for HIG to break above 11.50 and it just couldn&#8217;t.\u00a0 And then HIG would return to 11.\u00a0\u00a0 Looking at the intraday chart a new trader might have concluded that HIG ... 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