{"id":398,"date":"2009-02-19T17:59:10","date_gmt":"2009-02-19T22:59:10","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=398"},"modified":"2009-02-19T22:44:36","modified_gmt":"2009-02-20T03:44:36","slug":"keep-track-of-key-levels","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/keep-track-of-key-levels","title":{"rendered":"Keep Track of Key Levels"},"content":{"rendered":"<p>In my last post, I stress the \u00a0importance of stock selection. \u00a0Easy money! \u00a0Bella mentioned CAT in one of his posts. CAT at the key levels of 30 and 29, is a perfect example of <a href=\"http:\/\/www.smbtraining.com\">easy money<\/a> and stock selection on three separate days.\u00a0 Check the chart below.<\/p>\n<p>All you needed to do was follow up,\u00a0 know the key levels and execute. \u00a0It makes this job much easier when you are prepared and this type of preparation is easy. \u00a0 We are looking for an edge and keeping track of levels or inflection points in a stock is <strong>KEY<\/strong> at making easy money. \u00a0 I have a steno notebook that I keep next to me to put all this information in. \u00a0Every weekend I go through this book, recall the trades that I executed or remember the price action of these specific stocks and formulate a plan to trade these stocks at these levels.\u00a0 One example was RIMM at 44.90 on January 14, 2009.\u00a0 There was an unusual held bid that dropped twice but kept coming back to 44.90 (I hit this level for 10,000 shares two separate times to get short and the stock never went down more then 5 cents)\u00a0 The next day I mention this in our morning meeting, I put my alerts in. \u00a0 RIMM traded down to 44.85 and instead of having a short bias, I waited to see the price action and the person was still buying.\u00a0 I bought and made good money; RIMM finished the day at 49.24.\u00a0 Over the next month and half, RIMM gave us many opportunities to make good money off of different levels.\u00a0 Then on Tuesday February 17th, RIMM approached the level of 44.90, my alert again went off and I watch the price action and the stock traded right through, but only by 25 cents, which is not a lot for RIMM.\u00a0 Twice on Tuesday, I was able to use that level to make a some money.\u00a0 Yesterday, RIMM traded below that level and I used that level as a basis to stay short the rest of the day.\u00a0 My plan on Wednesday was once RIMM was convincingly below 44.90 (I want to see more sellers then buyers, Lower highs and lower lows) I was short.\u00a0 Anything above, I want to be long.<\/p>\n<p>One last example, is FCX, a stock that has had many key levels and infection points since December.\u00a0 But a very easy play was FCX off of 27 on Tuesday and Wednesday.\u00a0 Check the Chart. \u00a0 Long above 27, short below.\u00a0 On Tuesday you could have made many trades with very little risk for 25 to 45 cents profits.\u00a0 And that is after missing a short play off of 28.40 level.\u00a0 On Wednesday, once the 27 was breached, I was short\u00a0 and made some money, but once it convincingly went over 27,\u00a0 it was a long.<\/p>\n<p>My point is to keep track of your important levels, have a plan, and execute. \u00a0 Don&#8217;t make this any harder than it needs to be.\u00a0 If the stocks are not acting the way you planned, either move on or adapt.\u00a0 There are many more key levels and inflections points for you to find.<br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/?attachment_id=400\" rel=\"attachment wp-att-400\" title=\"CAT at 30 and 29\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/cat.bmp\" alt=\"CAT at 30 and 29\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/?attachment_id=402\" rel=\"attachment wp-att-402\" title=\"RIMM at 44.90 Key level in January\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/rimm2.bmp\" alt=\"RIMM at 44.90 Key level in January\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/?attachment_id=404\" rel=\"attachment wp-att-404\" title=\"FCX at 27\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/fcx2.bmp\" alt=\"FCX at 27\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In my last post, I stress the \u00a0importance of stock selection. \u00a0Easy money! \u00a0Bella mentioned CAT in one of his posts. CAT at the key levels of 30 and 29, is a perfect example of easy money and stock selection on three separate days.\u00a0 Check the chart below. All you needed to do was follow up,\u00a0 know the key levels &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/keep-track-of-key-levels\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":273,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,186],"tags":[4676,135,18],"class_list":["post-398","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-jeff-tomasulos-blogs","tag-day-trading","tag-levels","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>Keep Track of Key Levels | 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\/keep-track-of-key-levels\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Keep Track of Key Levels | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In my last post, I stress the \u00a0importance of stock selection. \u00a0Easy money! \u00a0Bella mentioned CAT in one of his posts. CAT at the key levels of 30 and 29, is a perfect example of easy money and stock selection on three separate days.\u00a0 Check the chart below. All you needed to do was follow up,\u00a0 know the key levels ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/keep-track-of-key-levels\" \/>\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=\"2009-02-19T22:59:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-02-20T03:44:36+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/cat.bmp\" \/>\n<meta name=\"author\" content=\"jtomasulo\" \/>\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=\"jtomasulo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta 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