{"id":4527,"date":"2010-04-12T16:59:09","date_gmt":"2010-04-12T20:59:09","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=4527"},"modified":"2023-04-27T08:47:10","modified_gmt":"2023-04-27T12:47:10","slug":"playing-aig-for-a-bigger-move","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/playing-aig-for-a-bigger-move","title":{"rendered":"PLAYING AIG FOR A BIGGER MOVE"},"content":{"rendered":"<p>Wednesday AIG broke about an important resistance level of 36. \u00a0If for some reason you have been trapped under a rock for the past two months you might have missed that most things breaking out head for higher ground. \u00a0Boss Lindzon has labeled the recent market upmove as the &#8220;inconceivable rally.&#8221; \u00a0One of the original trading bloggers, Rev Shark, on RealMoney.com has been urging caution lately. \u00a0But all agree that momentum plays are working so we watch an AIG for follow through. \u00a040 became our new resistance level in AIG as we have waited the last few trading days for follow through. \u00a0 As we opened and AIG raced above 39, many wondered: could today be that day?<\/p>\n<p>With all the HFT noise in an AIG I play for a bigger move. \u00a0My win rate will be lower. \u00a0And essentially AIG must trend and follow through for victory. \u00a0But if I catch one of these AIG all-day trending days then my downside is 25 centsish and my upside is 5 points. \u00a0That is not a bad risk\/reward. \u00a0 Today was not one of those all-day trending days. \u00a0 There was only one losing trade followed by one winning trade.<\/p>\n<p>When AIG stuck its head above 40, the volume increased, and then it started to consolidate- I made a play. \u00a0I got long 39.91, with a stop at 39.74. \u00a0AIG first found 40.50 with an impressive upmove. \u00a0 I didn&#8217;t move a muscle at anytime to sell any shares at any price. \u00a0 Could this be the day? \u00a0Was I going to catch the multi-point upmove? \u00a0Well no. \u00a0AIG failed above 40.50, leaked all the way down and found my stop. \u00a0In fact AIG continued much lower, finding more stops, and disappointing more than just me.<\/p>\n<p>Oh well. \u00a0This is the AIG game. \u00a0Remember our win rate will not be high. \u00a0When we catch it that can make for an awesome day, but there are many false starts, fake breakouts, and disappointing days in our good friend- AIG.<\/p>\n<p>40.80 was our next important level in AIG. \u00a0As the the lunch hour was in full swing, AIG creeped higher. \u00a0Can&#8217;t they just leave us alone to enjoy our lunch already? \u00a0And AIG broke above 40.80. \u00a0 I was teaching and doing all things partner at the time so I did not buy the first break above 40.80.<\/p>\n<p>But as the afternoon progressed AIG was consolidating above 40.80. \u00a0I returned to my trading station, sat down, bought into a sharp downmove to 41.06, set a stop for 40.69, and teased Ram Jam, who sits next to me, about not being allowed to sell.<\/p>\n<p>AIG approached 42 and Mr. Spencer proclaimed this a level. \u00a0Why does he have to ruin the party? \u00a0We lightened up as the pass at 42 did not look promising. \u00a0I held 1\/2 of my position however. \u00a0The market broke to the downside for the last hour, driving AIG lower. \u00a0I faded the downmoves, buying and then kicking it out 15-20c higher, while holding 1\/2 a lot. \u00a0 This minimized what I was giving back from the 42 fig.<\/p>\n<p>The day ended and I offered my remaining shares at 41.25. \u00a0I had hoped for a better close. \u00a0But it was not to be. \u00a0 I played for a bigger move and it never came.<br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/04\/AIG.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4528\" title=\"AIG\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/04\/AIG.png\" alt=\"\" width=\"580\" height=\"500\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/04\/AIG.png 580w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/04\/AIG-300x258.png 300w\" sizes=\"auto, (max-width: 580px) 100vw, 580px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wednesday AIG broke about an important resistance level of 36. \u00a0If for some reason you have been trapped under a rock for the past two months you might have missed that most things breaking out head for higher ground. \u00a0Boss Lindzon has labeled the recent market upmove as the &#8220;inconceivable rally.&#8221; \u00a0One of the original trading bloggers, Rev Shark, on &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/playing-aig-for-a-bigger-move\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":4528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[329,162,30,50,18],"class_list":["post-4527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-aig","tag-day-trading-blog","tag-prop-trading","tag-proprietary-trading","tag-smb-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PLAYING AIG FOR A BIGGER MOVE | 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\/playing-aig-for-a-bigger-move\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PLAYING AIG FOR A BIGGER MOVE | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Wednesday AIG broke about an important resistance level of 36. \u00a0If for some reason you have been trapped under a rock for the past two months you might have missed that most things breaking out head for higher ground. \u00a0Boss Lindzon has labeled the recent market upmove as the &#8220;inconceivable rally.&#8221; \u00a0One of the original trading bloggers, Rev Shark, on ... 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