{"id":4363,"date":"2010-03-30T16:50:41","date_gmt":"2010-03-30T20:50:41","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=4363"},"modified":"2010-03-30T16:50:41","modified_gmt":"2010-03-30T20:50:41","slug":"fresh-news-and-a-level-vz","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/fresh-news-and-a-level-vz","title":{"rendered":"FRESH NEWS AND A LEVEL (VZ)"},"content":{"rendered":"

Not all levels are created equal. \u00a0As traders we must\u00a0differentiate\u00a0which levels are most important. \u00a0Less important levels require more checks for us to take positions. \u00a0Well fresh news just might be one of those checks.<\/p>\n

VZ had fresh news today. \u00a0From Forbes.com:<\/p>\n

Rumors have been\u00a0circulating<\/a> that a new\u00a0Apple<\/strong><\/a> (\u00a0AAPL<\/a> –\u00a0news<\/a>–\u00a0people <\/a>) iPhone, equipped to operate through\u00a0Verizon Communications’<\/strong><\/a> (\u00a0VZ<\/a> –\u00a0news <\/a>–\u00a0people <\/a>) Verizon Wireless, could be in the works as early as this summer.<\/p>\n

A quick look at our long term charts found 31 as a resistance level, “a level”. \u00a0On the open the question was whether to buy VZ when it looked like it would clear 31. \u00a0I did.<\/p>\n

A stock with fresh news as significant as the above and then above a level causes me to get long. \u00a0The level plus the fresh news gives me reason to buy. \u00a0Not just the level- the level AND the fresh news.<\/p>\n

We make decisions based on three factors: our charts, reading the tape, and intraday fundamentals. \u00a0During a classroom lecture with our new class today we talked about a disadvantage for the intraday trader in VZ. \u00a0The dopey stock is SO slow. \u00a0So we cannot really use our reading the tape skills. \u00a0This takes away a big part of our edge trading a VZ. \u00a0So we must feel more comfortable with our technical level and our fresh news (intraday fundamentals). \u00a0And this new potential deal was important enough news that I wanted to play.<\/p>\n

VZ needs to clear 31.40 tomorrow for us to expect a move to 32. \u00a0VZ had trouble holding above 31.40 intraday. \u00a0Today we saw strength at 31.20 as well. \u00a0VZ is certainly a slow mover. \u00a0We will see how this trading opportunity unfolds.<\/p>\n

The best part about tomorrow is the market gifting us the opportunity to get better!
\n\"\"<\/a><\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Not all levels are created equal. \u00a0As traders we must\u00a0differentiate\u00a0which levels are most important. \u00a0Less important levels require more checks for us to take positions. \u00a0Well fresh news just might be one of those checks. VZ had fresh news today. \u00a0From Forbes.com: Rumors have been\u00a0circulating that a new\u00a0Apple (\u00a0AAPL –\u00a0news–\u00a0people ) iPhone, equipped to operate through\u00a0Verizon Communications’ (\u00a0VZ –\u00a0news –\u00a0people … 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":[445,162,837,18,838,836],"class_list":["post-4363","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-aapl","tag-day-trading-blog","tag-qcom","tag-smb-capital","tag-verizon","tag-vz","no-post-thumbnail"],"yoast_head":"\nFRESH NEWS AND A LEVEL (VZ) | 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\/fresh-news-and-a-level-vz\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRESH NEWS AND A LEVEL (VZ) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Not all levels are created equal. \u00a0As traders we must\u00a0differentiate\u00a0which levels are most important. \u00a0Less important levels require more checks for us to take positions. \u00a0Well fresh news just might be one of those checks. 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