“In Play”<\/strong><\/a>. During earnings season there are a huge number of In Play stocks. When earnings season winds down there are usually at best a few such stocks.<\/p>\nIf you are an active intraday trader then you had the pick of three excellent opportunities this morning. NKE reported earnings and raised guidance and was gapping above multi-year highs.<\/p>\n
FDX was gapping down to a decent support area around 87. In a strong market stocks that gap to longer term support usually have some type of bounce. Although I wasn’t expecting it to run all the way to 91.<\/p>\n
GME reported earnings and guided higher. It was bumping up against a longer term resistance level of 22. There was a battle at 22 on the Open and the sellers won.<\/p>\n
APOL presented a great longer term technical setup. It was attempting to fill a large gap above the 65 level. This was a trade I should have put on small risk unless huge volume came in above 65. Instead I risked enough to wipe out my chop in GME.<\/p>\n
long NKE, CSTR, NOK
\nshort APOL (you suck)<\/p>\n","protected":false},"excerpt":{"rendered":"
As I view the list of stocks I traded today and their corresponding P\/L I definitely see a pattern. GME, FDX, and NKE all green. APOL a big red. I have written many times about the value of trading stocks with fresh news. Stocks that we refer to as “In Play”. During earnings season there are a huge number of … 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":[8],"tags":[507,797,784,798],"class_list":["post-4185","post","type-post","status-publish","format-standard","hentry","category-steven_spencer_steves_blogs","tag-a","tag-im","tag-pattern","tag-seeing","no-post-thumbnail"],"yoast_head":"\nI'm Seeing A Pattern | 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\/im-seeing-a-pattern\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I'm Seeing A Pattern | SMB Training\" \/>\n<meta property=\"og:description\" content=\"As I view the list of stocks I traded today and their corresponding P\/L I definitely see a pattern. GME, FDX, and NKE all green. APOL a big red. I have written many times about the value of trading stocks with fresh news. Stocks that we refer to as “In Play”. During earnings season there are a huge number of ... 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