{"id":380,"date":"2009-02-14T12:17:21","date_gmt":"2009-02-14T17:17:21","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=380"},"modified":"2023-04-24T13:39:41","modified_gmt":"2023-04-24T17:39:41","slug":"respect-the-support","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/respect-the-support","title":{"rendered":"Respect The Support"},"content":{"rendered":"<p>We talk about the easy money constantly in this blog.\u00a0 Yesterday offered some great easy money opportunities that you have to be able to capitalize on.<\/p>\n<p>The first situation is the 47.50 level in RIMM.\u00a0 Bella discussed this level the other day in <a href=\"https:\/\/www.smbtraining.com\/blog\/nothing-but-rimm\" target=\"_blank\" rel=\"noopener\">his blog post<\/a>, and how a great amount of volume went off at that level.\u00a0 Yesterday RIMM was very weak on the open, selling off from (surprise surprise) the 50 level that was also discussed in that post.\u00a0 Putting in a bid in front of the 47.50 level and risking ten cents would have resulted in an excellent risk to reward trade.<\/p>\n<p>The second was FCX at the 30.50 level.\u00a0 A lot of volume went off at the level yesterday in the morning, and then again in the afternoon.\u00a0 Once it got above the 50 cent level, it developed a 15 to 20 cent range that could have been taken advantage by buying in the low 50&#8217;s and selling in the high 60&#8217;s, ultimately breaking out above 70 climbing to the high 80&#8217;s.<\/p>\n<p>The reason I bring these two examples up is because I remember when I first started trading.\u00a0 Whenever support broke, I would be looking for weakness, and not necessarily play the long side.\u00a0 And there were a good amount of times I would get stuck hitting the bottom before a strong up move would begin.\u00a0 The reason I bring this up is because both those stocks dropped their support for about 2 seconds before having their up moves.\u00a0 I did not short these stocks when support dropped.\u00a0 I hit out of my long and re-evaluated.\u00a0 The only way I would get short would be if there was a big seller at or below the support level.\u00a0 When the support re-bid, I got long again.<\/p>\n<p>And these weren&#8217;t the only stocks I saw this pattern in.\u00a0 I saw this same pattern in HIG, SPY as well as a few others this week as well.\u00a0 This is something that you must be able to notice and take advantage of in order to make some easier money. Almost all of the money I made yesterday was in these two setups.\u00a0 I traded other things as well, but these were by far my most lucrative and stress-free trades.<\/p>\n<p>Enjoy your long weekend.<\/p>\n<p><a title=\"Rimm\" href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/rimm.bmp\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/rimm.bmp\" alt=\"Rimm\" \/><\/a><\/p>\n<p><a title=\"FCX 2-13-09\" href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/fcx.bmp\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/fcx.bmp\" alt=\"FCX 2-13-09\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We talk about the easy money constantly in this blog.\u00a0 Yesterday offered some great easy money opportunities that you have to be able to capitalize on. The first situation is the 47.50 level in RIMM.\u00a0 Bella discussed this level the other day in his blog post, and how a great amount of volume went off at that level.\u00a0 Yesterday RIMM &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/respect-the-support\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":167,"featured_media":379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,6],"tags":[30,18,301],"class_list":["post-380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intraday-levels","category-one-good-trade","tag-prop-trading","tag-smb-capital","tag-trading-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Respect The Support | 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\/respect-the-support\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Respect The Support | SMB Training\" \/>\n<meta property=\"og:description\" content=\"We talk about the easy money constantly in this blog.\u00a0 Yesterday offered some great easy money opportunities that you have to be able to capitalize on. The first situation is the 47.50 level in RIMM.\u00a0 Bella discussed this level the other day in his blog post, and how a great amount of volume went off at that level.\u00a0 Yesterday RIMM ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/respect-the-support\" \/>\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=\"2009-02-14T17:17:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-24T17:39:41+00:00\" \/>\n<meta name=\"author\" content=\"Gualberto\" \/>\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=\"Gualberto\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" 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