We have been waiting for WFMI to explode for days. Above 34 and then 34.30 were levels to add size. During our AM meeting GMan pounded the table about buying above 34 and then 34.30. One of our developing traders did and posted a personal best. Chop Rosie!<\/p>\n
Why did we like this set up? The day after earnings WFMI was strong. 33.55 was a huge level as we spotted an unusual hold on the bid the day of earnings. WFMI could not trade below there for two days, finally did but did not stay below for long. WFMI has room to find 40 as we examine our longer term charts. 34 has been a level it could not clear for days. Above 34 and this was an A trade for us. <\/p>\n
Now everyone in our firm had these levels in WFMI. But not everyone was in this trade. Rosie was. I was. GMan was and some others. And there was not much to do save manage our position, look for places to add, and hold. This was a Trade2Hold. At one point intraday I tweeted:<\/p>\n
If I was on StockTwits TV Talk Your Book I would be screaming “Watch WFMI” $$ and then I would ask poss tech breakout?<\/p>\n
Where was @ppearlman when I needed him? And while most of us lightened up or went out flat WFMI there was not a reason to sell save maybe when WFMI traded below 34.90 into the Close. <\/p>\n
Rosie bought and did so with size. Rosie held WFMI for a substantial move. She was prepared and executed. I never understand those who go home complaining about a lack of market opportunity. Stocks go up and down all day long. It takes one stock, with one powerful move to make your day. Your job is to perform. To be in these set ups. To seize the opportunity offered almost everyday to intraday traders. <\/p>\n
After the close we met with our new traders and discussed an excellent exercise to improve. I highlighted the opportunity in RIMM below 69, and WFMI above 34, and BRK.B at 80, GS at 160, NVDA below 16.50, AAPL below 199.20, and on and on and on. At the end of the day go find these stocks that offered opportunity. Talk to others on your desk about these set ups. Exchange ideas about how to best trade these plays. And replay them simulating trades that would have made sense TO YOU so that you would have found a way to seize these trading opportunities. So you can be like Rosie!<\/p>\n
Best of luck with your trading! <\/p>\n","protected":false},"excerpt":{"rendered":"