{"id":50146,"date":"2020-09-24T15:30:47","date_gmt":"2020-09-24T19:30:47","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50146"},"modified":"2020-09-25T15:33:34","modified_gmt":"2020-09-25T19:33:34","slug":"how-to-use-tape-reading-to-determine-one-of-the-most-profitable-exits","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-use-tape-reading-to-determine-one-of-the-most-profitable-exits","title":{"rendered":"How to use Tape Reading to determine one of the most profitable exits"},"content":{"rendered":"

In this video, learn how to use Tape Reading to determine one of the most profitable exits. Two traders from our firm and I discuss a recent trade in Peloton ($PTON) where one of the best exits was spotted with Tape Reading. And where the Swing Trade was not as profitable as a short-term trade. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video learn how to use tape<\/div>\n<\/div>\n<\/div>\n
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reading to determine the most profitable<\/div>\n<\/div>\n<\/div>\n
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exit<\/div>\n<\/div>\n<\/div>\n
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hi i’m mike bellafiore co-founder of smb<\/div>\n<\/div>\n<\/div>\n
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capital and we’re a proprietary trading<\/div>\n<\/div>\n<\/div>\n
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firm located in midtown manhattan<\/div>\n<\/div>\n<\/div>\n
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and i’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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classic one good trade and the playbook<\/div>\n<\/div>\n<\/div>\n
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in this video two traders from our firm<\/div>\n<\/div>\n<\/div>\n
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and i<\/div>\n<\/div>\n<\/div>\n
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discussed a recent trade in peloton<\/div>\n<\/div>\n<\/div>\n
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where the best exit was spotted with<\/div>\n<\/div>\n<\/div>\n
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tape reading<\/div>\n<\/div>\n<\/div>\n
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and where the swing trade was not as<\/div>\n<\/div>\n<\/div>\n
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profitable as a short-term trade let’s<\/div>\n<\/div>\n<\/div>\n
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get to work<\/div>\n<\/div>\n<\/div>\n
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on sharing these important trading<\/div>\n<\/div>\n<\/div>\n
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lessons so you can grow your trading<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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account<\/div>\n<\/div>\n<\/div>\n
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the particular trade that we’re going to<\/div>\n<\/div>\n<\/div>\n
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be talking about today is in peloton<\/div>\n<\/div>\n<\/div>\n
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really hot growth stock over the past<\/div>\n<\/div>\n<\/div>\n
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few months<\/div>\n<\/div>\n<\/div>\n
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and it has run up a ton not just in the<\/div>\n<\/div>\n<\/div>\n
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past few days but in the past few weeks<\/div>\n<\/div>\n<\/div>\n
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and on this particular day they had a<\/div>\n<\/div>\n<\/div>\n
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negative news catalyst<\/div>\n<\/div>\n<\/div>\n
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where it was rumored that amazon would<\/div>\n<\/div>\n<\/div>\n
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be partnering<\/div>\n<\/div>\n<\/div>\n
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with a lesser-known bike manufacturer to<\/div>\n<\/div>\n<\/div>\n
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make a competing product that was only<\/div>\n<\/div>\n<\/div>\n
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going to cost<\/div>\n<\/div>\n<\/div>\n
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one-fifth as much so because peloton<\/div>\n<\/div>\n<\/div>\n
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bikes are so niche and so expensive<\/div>\n<\/div>\n<\/div>\n
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and they’ve been the only player in this<\/div>\n<\/div>\n<\/div>\n
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new marketplace<\/div>\n<\/div>\n<\/div>\n
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and part of the stay-at-home trade um<\/div>\n<\/div>\n<\/div>\n
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this amazon news we thought was pretty<\/div>\n<\/div>\n<\/div>\n
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directionally bearish for them<\/div>\n<\/div>\n<\/div>\n
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and a stock gap down as a result of that<\/div>\n<\/div>\n<\/div>\n
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we do have history in the past<\/div>\n<\/div>\n<\/div>\n
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of amazon entering a space the grocery<\/div>\n<\/div>\n<\/div>\n
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space<\/div>\n<\/div>\n<\/div>\n
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as a as an example and<\/div>\n<\/div>\n<\/div>\n
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stocks in that sector getting hit pretty<\/div>\n<\/div>\n<\/div>\n
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hard so we also were thinking about that<\/div>\n<\/div>\n<\/div>\n
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as well yeah and amazon rarely loses in<\/div>\n<\/div>\n<\/div>\n
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these types of battles<\/div>\n<\/div>\n<\/div>\n
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because they have an unlimited amount of<\/div>\n<\/div>\n<\/div>\n
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money to undercut you<\/div>\n<\/div>\n<\/div>\n
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and sell at their own cost forever until<\/div>\n<\/div>\n<\/div>\n
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you go under<\/div>\n<\/div>\n<\/div>\n
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yeah so we knew this could be a real<\/div>\n<\/div>\n<\/div>\n
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threat to the company’s future if this<\/div>\n<\/div>\n<\/div>\n
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amazon deal really gains steam<\/div>\n<\/div>\n<\/div>\n
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and uh starts to get real sales so a<\/div>\n<\/div>\n<\/div>\n
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little bit of<\/div>\n<\/div>\n<\/div>\n
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a technical background for how the stock<\/div>\n<\/div>\n<\/div>\n
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was looking coming into this day<\/div>\n<\/div>\n<\/div>\n
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so this is the hourly chart in this top<\/div>\n<\/div>\n<\/div>\n
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center here and you can see we’ve been<\/div>\n<\/div>\n<\/div>\n
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in a strong uptrend over the past<\/div>\n<\/div>\n<\/div>\n
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month month and a half and then the<\/div>\n<\/div>\n<\/div>\n
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previous day to the trade this is the<\/div>\n<\/div>\n<\/div>\n
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five minute<\/div>\n<\/div>\n<\/div>\n
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strong gap up and then in the morning<\/div>\n<\/div>\n<\/div>\n
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this news came out about amazon you can<\/div>\n<\/div>\n<\/div>\n
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see we’re gapping down to about ninety<\/div>\n<\/div>\n<\/div>\n
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dollars so<\/div>\n<\/div>\n<\/div>\n
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that’s where the trade is going to kind<\/div>\n<\/div>\n<\/div>\n
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of start um we’re gonna have the open<\/div>\n<\/div>\n<\/div>\n
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and we have a hold of ninety dollars<\/div>\n<\/div>\n<\/div>\n
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very clear hold you can see it just<\/div>\n<\/div>\n<\/div>\n
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wicks<\/div>\n<\/div>\n<\/div>\n
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and then we’re going to be looking at<\/div>\n<\/div>\n<\/div>\n
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potential areas in this 90<\/div>\n<\/div>\n<\/div>\n
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150 to 92 area where a lot of volume was<\/div>\n<\/div>\n<\/div>\n
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done<\/div>\n<\/div>\n<\/div>\n
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a lot of selling in the pre-market and<\/div>\n<\/div>\n<\/div>\n
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we want to see how it reacts there and<\/div>\n<\/div>\n<\/div>\n
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if it really slows to potentially<\/div>\n<\/div>\n<\/div>\n
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take a short position at good prices<\/div>\n<\/div>\n<\/div>\n
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while also<\/div>\n<\/div>\n<\/div>\n
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taking into account the negative news<\/div>\n<\/div>\n<\/div>\n
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catalyst that could push this down<\/div>\n<\/div>\n<\/div>\n
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if funds want to reallocate their<\/div>\n<\/div>\n<\/div>\n
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positions based off this news<\/div>\n<\/div>\n<\/div>\n
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or just retail traders uh getting<\/div>\n<\/div>\n<\/div>\n
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involved so<\/div>\n<\/div>\n<\/div>\n
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i will start out the tape now and where<\/div>\n<\/div>\n<\/div>\n
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we’re starting is we’re going to<\/div>\n<\/div>\n<\/div>\n
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start by showing this push into 91<\/div>\n<\/div>\n<\/div>\n
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90. and we’re just really going to see<\/div>\n<\/div>\n<\/div>\n
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how it slows and it pulls back like 20<\/div>\n<\/div>\n<\/div>\n
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20 cents from the 90s for another time<\/div>\n<\/div>\n<\/div>\n
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pulled back to the 50s and then quickly<\/div>\n<\/div>\n<\/div>\n
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bid back up a little bit so i’m thinking<\/div>\n<\/div>\n<\/div>\n
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okay where in here can i get short<\/div>\n<\/div>\n<\/div>\n
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we clearly can’t even get to 92 dollars<\/div>\n<\/div>\n<\/div>\n
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even when we got to 90 cents<\/div>\n<\/div>\n<\/div>\n
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pulled back pretty significantly<\/div>\n<\/div>\n<\/div>\n
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and 92 starts to hold up as a level here<\/div>\n<\/div>\n<\/div>\n
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because we<\/div>\n<\/div>\n<\/div>\n
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can’t trade really to that level or<\/div>\n<\/div>\n<\/div>\n
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meaningfully above it<\/div>\n<\/div>\n<\/div>\n
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for a solid four minutes in the opening<\/div>\n<\/div>\n<\/div>\n
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a couple of minutes of trading if you<\/div>\n<\/div>\n<\/div>\n
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want to learn three<\/div>\n<\/div>\n<\/div>\n
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real world setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven figure big money earner<\/div>\n<\/div>\n<\/div>\n
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check out the free webinar that we’re<\/div>\n<\/div>\n<\/div>\n
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currently running just go ahead and<\/div>\n<\/div>\n<\/div>\n
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click the link that should be appearing<\/div>\n<\/div>\n<\/div>\n
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right now at the top right hand corner<\/div>\n<\/div>\n<\/div>\n
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of your screen<\/div>\n<\/div>\n<\/div>\n
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that’s going to open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window<\/div>\n<\/div>\n<\/div>\n
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so don’t worry you’re not going to lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re going to learn more<\/div>\n<\/div>\n<\/div>\n
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in a couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop than from<\/div>\n<\/div>\n<\/div>\n
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years of online education so i stopped<\/div>\n<\/div>\n<\/div>\n
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it here just to show my short entry<\/div>\n<\/div>\n<\/div>\n
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more clearly so when i really see the<\/div>\n<\/div>\n<\/div>\n
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tape<\/div>\n<\/div>\n<\/div>\n
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struggling in these 50s really slowing<\/div>\n<\/div>\n<\/div>\n
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the bounce seems like it’s stopping<\/div>\n<\/div>\n<\/div>\n
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and i think it could start breaking down<\/div>\n<\/div>\n<\/div>\n
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through this 9150 level<\/div>\n<\/div>\n<\/div>\n
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so i get short at 91.47<\/div>\n<\/div>\n<\/div>\n
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you can kind of see there was just that<\/div>\n<\/div>\n<\/div>\n
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lack of buying up there<\/div>\n<\/div>\n<\/div>\n
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i’m risking a move over 92 dollars so<\/div>\n<\/div>\n<\/div>\n
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about 50 cents exactly<\/div>\n<\/div>\n<\/div>\n
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and just to make this interesting i<\/div>\n<\/div>\n<\/div>\n
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actually shorted this as well<\/div>\n<\/div>\n<\/div>\n
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into that 92 with stops above 92 and<\/div>\n<\/div>\n<\/div>\n
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stops above 92-25<\/div>\n<\/div>\n<\/div>\n
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for a swing trade and you’re gonna make<\/div>\n<\/div>\n<\/div>\n
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a little bit of a different trade right<\/div>\n<\/div>\n<\/div>\n
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matt<\/div>\n<\/div>\n<\/div>\n
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yes yep we had same the same entries<\/div>\n<\/div>\n<\/div>\n
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except we made different time frame<\/div>\n<\/div>\n<\/div>\n
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trades so<\/div>\n<\/div>\n<\/div>\n
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i can definitely we’ll talk about what i<\/div>\n<\/div>\n<\/div>\n
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did and then we can talk a little bit<\/div>\n<\/div>\n<\/div>\n
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about<\/div>\n<\/div>\n<\/div>\n
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what you were looking for afterwards as<\/div>\n<\/div>\n<\/div>\n
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well because i think that’ll be<\/div>\n<\/div>\n<\/div>\n
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good for everyone to see and where this<\/div>\n<\/div>\n<\/div>\n
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trade ends<\/div>\n<\/div>\n<\/div>\n
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actually gives us really good<\/div>\n<\/div>\n<\/div>\n
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information for the trend of the stock<\/div>\n<\/div>\n<\/div>\n
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for the rest of the day<\/div>\n<\/div>\n<\/div>\n
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so that’s another reason that we’re<\/div>\n<\/div>\n<\/div>\n
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going to look at this tape yeah and i<\/div>\n<\/div>\n<\/div>\n
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saw some weakness up towards that 92 as<\/div>\n<\/div>\n<\/div>\n
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well that houston mentioned<\/div>\n<\/div>\n<\/div>\n
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and so i started a swing trade my price<\/div>\n<\/div>\n<\/div>\n
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tended to be<\/div>\n<\/div>\n<\/div>\n
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closer to 91.50 we were talking about<\/div>\n<\/div>\n<\/div>\n
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this in real time over our audio chat<\/div>\n<\/div>\n<\/div>\n
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and i was swinging this for a potential<\/div>\n<\/div>\n<\/div>\n
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low a day<\/div>\n<\/div>\n<\/div>\n
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exactly i had added shares on the<\/div>\n<\/div>\n<\/div>\n
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breakdown so you can see my<\/div>\n<\/div>\n<\/div>\n
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average price went down a little but<\/div>\n<\/div>\n<\/div>\n
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once i got that confirmation that it was<\/div>\n<\/div>\n<\/div>\n
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really couldn’t hold up there<\/div>\n<\/div>\n<\/div>\n
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um that was that the reason for that so<\/div>\n<\/div>\n<\/div>\n
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now we’re just going to kind of watch it<\/div>\n<\/div>\n<\/div>\n
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hold lower and kind of step down<\/div>\n<\/div>\n<\/div>\n
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into this 90 area so two things that i<\/div>\n<\/div>\n<\/div>\n
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just want to talk about because i think<\/div>\n<\/div>\n<\/div>\n
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it will be interesting to<\/div>\n<\/div>\n<\/div>\n
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juxtapose that the two different types<\/div>\n<\/div>\n<\/div>\n
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of trades and i’m going to make fun of<\/div>\n<\/div>\n<\/div>\n
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myself actually<\/div>\n<\/div>\n<\/div>\n
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in this particular trade so you guys<\/div>\n<\/div>\n<\/div>\n
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will enjoy that<\/div>\n<\/div>\n<\/div>\n
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i like the 92 because as houston said i<\/div>\n<\/div>\n<\/div>\n
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start to see<\/div>\n<\/div>\n<\/div>\n
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a lack of buying interest up towards<\/div>\n<\/div>\n<\/div>\n
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that area and also if you take a look at<\/div>\n<\/div>\n<\/div>\n
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the pre-market chart<\/div>\n<\/div>\n<\/div>\n
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there’s a resistance area around that<\/div>\n<\/div>\n<\/div>\n
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92-25-ish area<\/div>\n<\/div>\n<\/div>\n
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and so that’s why i chose those two<\/div>\n<\/div>\n<\/div>\n
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particular areas 92 based on the tape<\/div>\n<\/div>\n<\/div>\n
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92.25 based on the pre-market chart<\/div>\n<\/div>\n<\/div>\n
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and as houston was mentioning i was<\/div>\n<\/div>\n<\/div>\n
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giving this<\/div>\n<\/div>\n<\/div>\n
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some room potentially to go to the<\/div>\n<\/div>\n<\/div>\n
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downside because it had been<\/div>\n<\/div>\n<\/div>\n
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below 80 not too long ago<\/div>\n<\/div>\n<\/div>\n
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after earnings and amazon has a history<\/div>\n<\/div>\n<\/div>\n
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of beating up some companies when they<\/div>\n<\/div>\n<\/div>\n
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enter their space<\/div>\n<\/div>\n<\/div>\n
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it was gapping down so we were given it<\/div>\n<\/div>\n<\/div>\n
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i was giving it a run to the<\/div>\n<\/div>\n<\/div>\n
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to the short side exactly and i was<\/div>\n<\/div>\n<\/div>\n
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also looking for the short side but on a<\/div>\n<\/div>\n<\/div>\n
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shorter time frame<\/div>\n<\/div>\n<\/div>\n
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and what that really means is i had<\/div>\n<\/div>\n<\/div>\n
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earlier price targets because i was<\/div>\n<\/div>\n<\/div>\n
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risking a little tighter<\/div>\n<\/div>\n<\/div>\n
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on my stop so i have limit orders to<\/div>\n<\/div>\n<\/div>\n
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cover some at 90 15<\/div>\n<\/div>\n<\/div>\n
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and 89.82 in case we leak below that<\/div>\n<\/div>\n<\/div>\n
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level<\/div>\n<\/div>\n<\/div>\n
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because i want to cover some risk they<\/div>\n<\/div>\n<\/div>\n
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clearly bounced off that level earlier<\/div>\n<\/div>\n<\/div>\n
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on the longer time frame you can see up<\/div>\n<\/div>\n<\/div>\n
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here in the top left 90<\/div>\n<\/div>\n<\/div>\n
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was a major resistance on this run-up<\/div>\n<\/div>\n<\/div>\n
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day and then it kind of faded from there<\/div>\n<\/div>\n<\/div>\n
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before we broke back through<\/div>\n<\/div>\n<\/div>\n
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so knowing that there’s real interest in<\/div>\n<\/div>\n<\/div>\n
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this 90 area that could potentially slow<\/div>\n<\/div>\n<\/div>\n
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the stock<\/div>\n<\/div>\n<\/div>\n
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so i want to take some profits and cover<\/div>\n<\/div>\n<\/div>\n
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some into weakness<\/div>\n<\/div>\n<\/div>\n
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so you see it’s just stepping down um<\/div>\n<\/div>\n<\/div>\n
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just looking pretty good feeling like<\/div>\n<\/div>\n<\/div>\n
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you’re in the driver’s seat<\/div>\n<\/div>\n<\/div>\n
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not looking to add or anything that<\/div>\n<\/div>\n<\/div>\n
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would ruin your risk to reward just kind<\/div>\n<\/div>\n<\/div>\n
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of letting it trend<\/div>\n<\/div>\n<\/div>\n
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really wanting to see it hold below<\/div>\n<\/div>\n<\/div>\n
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91.50 and then<\/div>\n<\/div>\n<\/div>\n
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hopefully hold under 91.<\/div>\n<\/div>\n<\/div>\n
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skip ahead a bit more and here we go<\/div>\n<\/div>\n<\/div>\n
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this is our first<\/div>\n<\/div>\n<\/div>\n
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pull into the 90 area so my order at 90<\/div>\n<\/div>\n<\/div>\n
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15<\/div>\n<\/div>\n<\/div>\n
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i believe will get filled soon<\/div>\n<\/div>\n<\/div>\n
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and i layered out a couple more in case<\/div>\n<\/div>\n<\/div>\n
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we get a quick flush through 90.<\/div>\n<\/div>\n<\/div>\n
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down to like 89. and you’re covering<\/div>\n<\/div>\n<\/div>\n
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into that 90 area because<\/div>\n<\/div>\n<\/div>\n
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if you look at the chart that was where<\/div>\n<\/div>\n<\/div>\n
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it bottomed out from<\/div>\n<\/div>\n<\/div>\n
\n
\n
a little bit before that so that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s our temporary low<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so hey you’re a couple points in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
money almost<\/div>\n<\/div>\n<\/div>\n
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\n
there’s a lot of risk to hold it near<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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low it’s got to then<\/div>\n<\/div>\n<\/div>\n
\n
\n
get below that low hold that low so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re taking some risk off<\/div>\n<\/div>\n<\/div>\n
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\n
taking some profits there and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
reassessing exactly take some profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then see how the bounce is<\/div>\n<\/div>\n<\/div>\n
\n
\n
see if it can be a shallow bounce on low<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe indicating buyers aren’t stepping<\/div>\n<\/div>\n<\/div>\n
\n
\n
in and this downtr<\/div>\n<\/div>\n<\/div>\n
\n
\n
side trend can continue and we were<\/div>\n<\/div>\n<\/div>\n
\n
\n
talking about this<\/div>\n<\/div>\n<\/div>\n
\n
\n
in real time you you covered there and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually said to you that’s a really<\/div>\n<\/div>\n<\/div>\n
\n
\n
good cover for an active short-term<\/div>\n<\/div>\n<\/div>\n
\n
\n
trader<\/div>\n<\/div>\n<\/div>\n
\n
\n
i didn’t cover a share but i was making<\/div>\n<\/div>\n<\/div>\n
\n
\n
a different trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly so we’ll see the bounce off this<\/div>\n<\/div>\n<\/div>\n
\n
\n
area is pretty<\/div>\n<\/div>\n<\/div>\n
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\n
pretty drastic so there’s definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
still some buyers at that 90 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
but you can see after this harsh bounce<\/div>\n<\/div>\n<\/div>\n
\n
\n
it actually does<\/div>\n<\/div>\n<\/div>\n
\n
\n
re strong bounce it does reject pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
harshly<\/div>\n<\/div>\n<\/div>\n
\n
\n
i added to my position because i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
that that’s a pretty good risk to reward<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade once you<\/div>\n<\/div>\n<\/div>\n
\n
\n
think that the trade is quote unquote on<\/div>\n<\/div>\n<\/div>\n
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\n
at this point<\/div>\n<\/div>\n<\/div>\n
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\n
like you’re a lot more likely to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
right that we’re going to see a new low<\/div>\n<\/div>\n<\/div>\n
\n
\n
of day beneath<\/div>\n<\/div>\n<\/div>\n
\n
\n
90 where we’ve seen this we’ve seen this<\/div>\n<\/div>\n<\/div>\n
\n
\n
sustained weakness<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now you can put on just a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
more risking against like 91.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
just above v-wap area that was just a<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty good risk to reward trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely you can see the tape slowing<\/div>\n<\/div>\n<\/div>\n
\n
\n
right into<\/div>\n<\/div>\n<\/div>\n
\n
\n
um 91 and never even really gets there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then you can just put your stop at<\/div>\n<\/div>\n<\/div>\n
\n
\n
91.50 or maybe a<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop on like half your shares above 91<\/div>\n<\/div>\n<\/div>\n
\n
\n
or something like that but<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely what houston said that was a<\/div>\n<\/div>\n<\/div>\n
\n
\n
great place to add and that’s something<\/div>\n<\/div>\n<\/div>\n
\n
\n
i should definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
review because that’s so clearly a<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening<\/div>\n<\/div>\n<\/div>\n
\n
\n
drive like bounce continuation<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh ad area<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can see we have a bid at 905<\/div>\n<\/div>\n<\/div>\n
\n
\n
that just quickly gives out yeah and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to just if you can just stop the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape right here<\/div>\n<\/div>\n<\/div>\n
\n
\n
excellent point by houston great<\/div>\n<\/div>\n<\/div>\n
\n
\n
supplement there by you matt<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re trying to short the pops everybody<\/div>\n<\/div>\n<\/div>\n
\n
\n
can look at the chart and say if it gets<\/div>\n<\/div>\n<\/div>\n
\n
\n
below 90 it’s going to be a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
trouble it’s going to have to go find<\/div>\n<\/div>\n<\/div>\n
\n
\n
a new or low right we can all do that i<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t know that i need to teach you that<\/div>\n<\/div>\n<\/div>\n
\n
\n
much about technical analysis to say<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s the bottom of the opening range<\/div>\n<\/div>\n<\/div>\n
\n
\n
if it gets below the bottom of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening range when it has a weak news<\/div>\n<\/div>\n<\/div>\n
\n
\n
catalyst<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s probably going to have to go find a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lower price we don’t want to actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
short it below 90<\/div>\n<\/div>\n<\/div>\n
\n
\n
because we’re we’re scared<\/div>\n<\/div>\n<\/div>\n
\n
\n
that we’re going to short below 90 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re going to blow us out into a pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re going to make us cover into a<\/div>\n<\/div>\n<\/div>\n
\n
\n
pop we want to get in<\/div>\n<\/div>\n<\/div>\n
\n
\n
at a really good position i particularly<\/div>\n<\/div>\n<\/div>\n
\n
\n
wanted to get in a good position because<\/div>\n<\/div>\n<\/div>\n
\n
\n
i wanted to swing it but you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
even making active trades even not<\/div>\n<\/div>\n<\/div>\n
\n
\n
playing for the home run trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re trying to short the pops to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
into better prices anticipating that<\/div>\n<\/div>\n<\/div>\n
\n
\n
it will get back to 90 or then get below<\/div>\n<\/div>\n<\/div>\n
\n
\n
90 and break down even more<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so just the way this was set up it<\/div>\n<\/div>\n<\/div>\n
\n
\n
wasn’t going to be a good trade to try<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum trade that below 90 and we were<\/div>\n<\/div>\n<\/div>\n
\n
\n
positioning ourselves<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a breakdown much higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
than 90 and before it actually showed us<\/div>\n<\/div>\n<\/div>\n
\n
\n
that it kickable it could get below<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
but thanks matt so now we’ll see how<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 90 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
reacts you can see we just kind of start<\/div>\n<\/div>\n<\/div>\n
\n
\n
fading below it<\/div>\n<\/div>\n<\/div>\n
\n
\n
i had covered a little more risk at<\/div>\n<\/div>\n<\/div>\n
\n
\n
89.78<\/div>\n<\/div>\n<\/div>\n
\n
\n
so in case because it was really slowing<\/div>\n<\/div>\n<\/div>\n
\n
\n
under here i thought we would see like<\/div>\n<\/div>\n<\/div>\n
\n
\n
faster continuation you see they bring<\/div>\n<\/div>\n<\/div>\n
\n
\n
it back to 90.<\/div>\n<\/div>\n<\/div>\n
\n
\n
so just being a little more defensive as<\/div>\n<\/div>\n<\/div>\n
\n
\n
i am treating this shorter term<\/div>\n<\/div>\n<\/div>\n
\n
\n
but still comfortable to hold my<\/div>\n<\/div>\n<\/div>\n
\n
\n
position it’s clearly<\/div>\n<\/div>\n<\/div>\n
\n
\n
working we saw a big bounce there in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
90 50 and a clear rejection<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now we’re heading into a new low so<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the longer<\/div>\n<\/div>\n<\/div>\n
\n
\n
term chart um there’s like 88 area 87.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
is like a good target it’s kind of like<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh their initial breakout from the<\/div>\n<\/div>\n<\/div>\n
\n
\n
previous day<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that’s that’s another price target in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the back of my mind if i can get into<\/div>\n<\/div>\n<\/div>\n
\n
\n
the 88 dollar range<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely be taking some profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now i’ll just kind of skip ahead a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little because it doesn’t move too<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
we get some<\/div>\n<\/div>\n<\/div>\n
\n
\n
retest into 90 and you can see just<\/div>\n<\/div>\n<\/div>\n
\n
\n
clearly is holding it can’t get much<\/div>\n<\/div>\n<\/div>\n
\n
\n
above 90.<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s really slowing into this area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then gives out a point about so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s really signaling<\/div>\n<\/div>\n<\/div>\n
\n
\n
some some weakness or some sellers<\/div>\n<\/div>\n<\/div>\n
\n
\n
stepping in on these bounces<\/div>\n<\/div>\n<\/div>\n
\n
\n
people really want to get short this<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i have some more orders layered out<\/div>\n<\/div>\n<\/div>\n
\n
\n
like i said once we get into the 88s i<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to be taking off like my final risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s kind of my price target 87.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe best case scenario<\/div>\n<\/div>\n<\/div>\n
\n
\n
nice job preemptively putting out those<\/div>\n<\/div>\n<\/div>\n
\n
\n
bits<\/div>\n<\/div>\n<\/div>\n
\n
\n
thanks yeah i find that that often has<\/div>\n<\/div>\n<\/div>\n
\n
\n
saved me<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh a good amount of like 10 15 cents on<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of trades just because<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can get out as soon as the over<\/div>\n<\/div>\n<\/div>\n
\n
\n
extension happens rather than when i see<\/div>\n<\/div>\n<\/div>\n
\n
\n
it slow and it starts to bounce back<\/div>\n<\/div>\n<\/div>\n
\n
\n
and not take liquidity either true yes<\/div>\n<\/div>\n<\/div>\n
\n
\n
that is more expensive as well so<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you can see i covered a little more<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 88.62<\/div>\n<\/div>\n<\/div>\n
\n
\n
down here when the tape really started<\/div>\n<\/div>\n<\/div>\n
\n
\n
to slow into that area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’re about like<\/div>\n<\/div>\n<\/div>\n
\n
\n
four or five points off the open now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and can you see the volume increase<\/div>\n<\/div>\n<\/div>\n
\n
\n
right there and the spike down<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can be a good signal if you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading this short term to take some<\/div>\n<\/div>\n<\/div>\n
\n
\n
profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
price extension increase in volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
that kind of mini capitulation move<\/div>\n<\/div>\n<\/div>\n
\n
\n
good reason to take some covers there if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re trading this on the short term<\/div>\n<\/div>\n<\/div>\n
\n
\n
agreed and now the next part of this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade we’re really going to highlight<\/div>\n<\/div>\n<\/div>\n
\n
\n
is in this 88 60<\/div>\n<\/div>\n<\/div>\n
\n
\n
50 88 70 area there is a lot of buying<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this is kind of where the stock is<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop going down and really catch a bid<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we can see we push over this 89<\/div>\n<\/div>\n<\/div>\n
\n
\n
pull back see if we can hold it<\/div>\n<\/div>\n<\/div>\n
\n
\n
does start to hold it bounces again from<\/div>\n<\/div>\n<\/div>\n
\n
\n
that area and now this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is this is the real make or break area<\/div>\n<\/div>\n<\/div>\n
\n
\n
so 8860s 8870s we’re holding for a while<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we finally get a test under<\/div>\n<\/div>\n<\/div>\n
\n
\n
this level<\/div>\n<\/div>\n<\/div>\n
\n
\n
so see it here we’ll go into the 8850s<\/div>\n<\/div>\n<\/div>\n
\n
\n
which is would be like a new low in<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you’d really expect it to break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
from there but then<\/div>\n<\/div>\n<\/div>\n
\n
\n
it gets bit up again pretty much right<\/div>\n<\/div>\n<\/div>\n
\n
\n
away<\/div>\n<\/div>\n<\/div>\n
\n
\n
signaling maybe a potential change in<\/div>\n<\/div>\n<\/div>\n
\n
\n
trend as we had that huge capitulation<\/div>\n<\/div>\n<\/div>\n
\n
\n
candle<\/div>\n<\/div>\n<\/div>\n
\n
\n
as mike pointed out there was a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
selling so maybe the sellers were all<\/div>\n<\/div>\n<\/div>\n
\n
\n
covering into that<\/div>\n<\/div>\n<\/div>\n
\n
\n
and anyone who thinks this is a buy the<\/div>\n<\/div>\n<\/div>\n
\n
\n
dip scenario maybe the amazon news isn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
a significant<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is looking like where they could<\/div>\n<\/div>\n<\/div>\n
\n
\n
really be stepping in<\/div>\n<\/div>\n<\/div>\n
\n
\n
so here we are we’re in the 50s now it<\/div>\n<\/div>\n<\/div>\n
\n
\n
goes into the 40s that’s a new low<\/div>\n<\/div>\n<\/div>\n
\n
\n
we hadn’t seen 40 cents before that<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly rebids 10<\/div>\n<\/div>\n<\/div>\n
\n
\n
20 cents and that’s really not what<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re going to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a momentum breakdown and making a<\/div>\n<\/div>\n<\/div>\n
\n
\n
new low if you think this has<\/div>\n<\/div>\n<\/div>\n
\n
\n
good continuation on the downside we<\/div>\n<\/div>\n<\/div>\n
\n
\n
just see these 50s are really holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
now<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i believe i’m going to take my exit<\/div>\n<\/div>\n<\/div>\n
\n
\n
when this kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
reverses a bit because this was really<\/div>\n<\/div>\n<\/div>\n
\n
\n
as i saw shares seeing if i could get<\/div>\n<\/div>\n<\/div>\n
\n
\n
like an 88 price target 8810<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the longer term charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
but again we’re into the 40s it doesn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
go lower holds higher in the 40s than it<\/div>\n<\/div>\n<\/div>\n
\n
\n
did last time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we’ll really show this bounce<\/div>\n<\/div>\n<\/div>\n
\n
\n
from this area we step up into the 80s<\/div>\n<\/div>\n<\/div>\n
\n
\n
pulls back and now we’re holding 60s<\/div>\n<\/div>\n<\/div>\n
\n
\n
instead of 50s<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we just keep inching higher from<\/div>\n<\/div>\n<\/div>\n
\n
\n
this area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and never come back to touch that 88 50<\/div>\n<\/div>\n<\/div>\n
\n
\n
88 60 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i had taken off my last shares at<\/div>\n<\/div>\n<\/div>\n
\n
\n
89.38 so right in here<\/div>\n<\/div>\n<\/div>\n
\n
\n
when i’m like this is old like under<\/div>\n<\/div>\n<\/div>\n
\n
\n
89.58 it seems like we’re getting a<\/div>\n<\/div>\n<\/div>\n
\n
\n
change of trend there’s kind of a pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
there was some buying volume here you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can see in this consolidation<\/div>\n<\/div>\n<\/div>\n
\n
\n
and some real buying volume coming in<\/div>\n<\/div>\n<\/div>\n
\n
\n
there so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i believe i’m about to cover my share my<\/div>\n<\/div>\n<\/div>\n
\n
\n
last share short<\/div>\n<\/div>\n<\/div>\n
\n
\n
just kind of seeing okay on this pop i<\/div>\n<\/div>\n<\/div>\n
\n
\n
think it should hold lower it didn’t got<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly back into the 30s and i took it<\/div>\n<\/div>\n<\/div>\n
\n
\n
off there<\/div>\n<\/div>\n<\/div>\n
\n
\n
all right good and so that’s a good<\/div>\n<\/div>\n<\/div>\n
\n
\n
example of how you on a shorter time<\/div>\n<\/div>\n<\/div>\n
\n
\n
frame are taking your profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
i actually i heard you saying there’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying in this area<\/div>\n<\/div>\n<\/div>\n
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and again that wasn’t my trade i was<\/div>\n<\/div>\n<\/div>\n
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giving this<\/div>\n<\/div>\n<\/div>\n
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a low a day potential end of day<\/div>\n<\/div>\n<\/div>\n
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coverage potential i wanted to see more<\/div>\n<\/div>\n<\/div>\n
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for me to cover<\/div>\n<\/div>\n<\/div>\n
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that wasn’t the trade i was making but i<\/div>\n<\/div>\n<\/div>\n
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heard you saying it i was thinking about<\/div>\n<\/div>\n<\/div>\n
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covering it and i reminded myself that<\/div>\n<\/div>\n<\/div>\n
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wasn’t the trade that i was making i did<\/div>\n<\/div>\n<\/div>\n
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actually cover<\/div>\n<\/div>\n<\/div>\n
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ever so slightly i think i covered about<\/div>\n<\/div>\n<\/div>\n
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25<\/div>\n<\/div>\n<\/div>\n
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when i heard you chirping about there<\/div>\n<\/div>\n<\/div>\n
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was real strength there<\/div>\n<\/div>\n<\/div>\n
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almost a triple bottom intraday on a<\/div>\n<\/div>\n<\/div>\n
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really short term time frame<\/div>\n<\/div>\n<\/div>\n
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can’t really push lower seeing lots of<\/div>\n<\/div>\n<\/div>\n
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signals from the tape that<\/div>\n<\/div>\n<\/div>\n
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their strength here it’s different it’s<\/div>\n<\/div>\n<\/div>\n
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not making new lows<\/div>\n<\/div>\n<\/div>\n
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the tape is showing you more strength<\/div>\n<\/div>\n<\/div>\n
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you’re seeing that it’s<\/div>\n<\/div>\n<\/div>\n
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not going down you’re seeing that it’s<\/div>\n<\/div>\n<\/div>\n
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stopped going down you’re seeing from<\/div>\n<\/div>\n<\/div>\n
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the level two<\/div>\n<\/div>\n<\/div>\n
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that there’s something different here in<\/div>\n<\/div>\n<\/div>\n
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a shorter term basis<\/div>\n<\/div>\n<\/div>\n
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and so because of that you can make a<\/div>\n<\/div>\n<\/div>\n
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trade decision because of that<\/div>\n<\/div>\n<\/div>\n
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you can get out of your mini swing trade<\/div>\n<\/div>\n<\/div>\n
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because of what you’re seeing on the<\/div>\n<\/div>\n<\/div>\n
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level too you can use the level two in<\/div>\n<\/div>\n<\/div>\n
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this case<\/div>\n<\/div>\n<\/div>\n
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to actually help yourself with swing<\/div>\n<\/div>\n<\/div>\n
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trades and mini trades so for myself i<\/div>\n<\/div>\n<\/div>\n
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can take some profits right there i have<\/div>\n<\/div>\n<\/div>\n
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a trade decision right there for<\/div>\n<\/div>\n<\/div>\n
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yourself<\/div>\n<\/div>\n<\/div>\n
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you can do that as well you can get out<\/div>\n<\/div>\n<\/div>\n
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of your momentum<\/div>\n<\/div>\n<\/div>\n
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short because you’re seeing something on<\/div>\n<\/div>\n<\/div>\n
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the tape that’s different<\/div>\n<\/div>\n<\/div>\n
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now i i promised i was going to make fun<\/div>\n<\/div>\n<\/div>\n
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of myself itself and i will right now<\/div>\n<\/div>\n<\/div>\n
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so where’s that stock today<\/div>\n<\/div>\n<\/div>\n
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it’s a hundred okay and so this is a<\/div>\n<\/div>\n<\/div>\n
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perfect example<\/div>\n<\/div>\n<\/div>\n
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of how when you’re trying to hit a home<\/div>\n<\/div>\n<\/div>\n
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run you’re going to have lots of open<\/div>\n<\/div>\n<\/div>\n
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profit that can go away<\/div>\n<\/div>\n<\/div>\n
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if you don’t take profits quickly it’s a<\/div>\n<\/div>\n<\/div>\n
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perfect example if you<\/div>\n<\/div>\n<\/div>\n
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have a longer time frame where you can<\/div>\n<\/div>\n<\/div>\n
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be in the money quite a bit<\/div>\n<\/div>\n<\/div>\n
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and not realize it where an active<\/div>\n<\/div>\n<\/div>\n
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trader can<\/div>\n<\/div>\n<\/div>\n
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you made money you walked away you<\/div>\n<\/div>\n<\/div>\n
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probably got long for all i know both of<\/div>\n<\/div>\n<\/div>\n
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you<\/div>\n<\/div>\n<\/div>\n
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um at some point and<\/div>\n<\/div>\n<\/div>\n
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i was playing for the home run i was<\/div>\n<\/div>\n<\/div>\n
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making this big swing trade thinking it<\/div>\n<\/div>\n<\/div>\n
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could go to the low 80s<\/div>\n<\/div>\n<\/div>\n
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i was firmly in the money<\/div>\n<\/div>\n<\/div>\n
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i you know didn’t really take profits on<\/div>\n<\/div>\n<\/div>\n
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my core<\/div>\n<\/div>\n<\/div>\n
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and i ended up getting stopped out<\/div>\n<\/div>\n<\/div>\n
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i move my stop down from my original 92<\/div>\n<\/div>\n<\/div>\n
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and 92<\/div>\n<\/div>\n<\/div>\n
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25 but i certainly didn’t cover it as<\/div>\n<\/div>\n<\/div>\n
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well as you did<\/div>\n<\/div>\n<\/div>\n
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and ended up giving back lots of open<\/div>\n<\/div>\n<\/div>\n
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profits and that is a<\/div>\n<\/div>\n<\/div>\n
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a great example of<\/div>\n<\/div>\n<\/div>\n
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active trading can help you lock in<\/div>\n<\/div>\n<\/div>\n
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profits<\/div>\n<\/div>\n<\/div>\n
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reading the tape can really show you<\/div>\n<\/div>\n<\/div>\n
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signals that things are different<\/div>\n<\/div>\n<\/div>\n
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that can tee up a trade decision for you<\/div>\n<\/div>\n<\/div>\n
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if you are open-minded and see it and so<\/div>\n<\/div>\n<\/div>\n
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i saw it and<\/div>\n<\/div>\n<\/div>\n
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and so i took up a little bit but but<\/div>\n<\/div>\n<\/div>\n
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was still playing for the for the longer<\/div>\n<\/div>\n<\/div>\n
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play<\/div>\n<\/div>\n<\/div>\n
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you always hear the only way you make<\/div>\n<\/div>\n<\/div>\n
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money as a trader is to hit these big<\/div>\n<\/div>\n<\/div>\n
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home runs<\/div>\n<\/div>\n<\/div>\n
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well not the case in this particular<\/div>\n<\/div>\n<\/div>\n
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trade<\/div>\n<\/div>\n<\/div>\n
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okay and we have lots of seven figure<\/div>\n<\/div>\n<\/div>\n
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traders on the desk who make lots of<\/div>\n<\/div>\n<\/div>\n
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trade decisions who will take<\/div>\n<\/div>\n<\/div>\n
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profits when they see things like that<\/div>\n<\/div>\n<\/div>\n
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um<\/div>\n<\/div>\n<\/div>\n
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and so that’s why i want to talk about<\/div>\n<\/div>\n<\/div>\n
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this really really great example i would<\/div>\n<\/div>\n<\/div>\n
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say one more thing<\/div>\n<\/div>\n<\/div>\n
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when we’re talking about this is in the<\/div>\n<\/div>\n<\/div>\n
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back your mind when you’re seeing that<\/div>\n<\/div>\n<\/div>\n
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buying on the tape right there<\/div>\n<\/div>\n<\/div>\n
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there are positives that go along with<\/div>\n<\/div>\n<\/div>\n
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this particular play which is this is<\/div>\n<\/div>\n<\/div>\n
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one of the hottest stocks in the<\/div>\n<\/div>\n<\/div>\n
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marketplace<\/div>\n<\/div>\n<\/div>\n
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this is a really really strong market<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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peloton’s product is is a pretty good<\/div>\n<\/div>\n<\/div>\n
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product and a more mature product is<\/div>\n<\/div>\n<\/div>\n
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amazon really going to compete with them<\/div>\n<\/div>\n<\/div>\n
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right now they’re doing better<\/div>\n<\/div>\n<\/div>\n
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in terms of the development of their<\/div>\n<\/div>\n<\/div>\n
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product than a supermarket was doing<\/div>\n<\/div>\n<\/div>\n
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when amazon entered that space and so i<\/div>\n<\/div>\n<\/div>\n
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think those three things need to be<\/div>\n<\/div>\n<\/div>\n
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thought of<\/div>\n<\/div>\n<\/div>\n
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where you think hey maybe this is going<\/div>\n<\/div>\n<\/div>\n
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to get bought up and maybe even fill the<\/div>\n<\/div>\n<\/div>\n
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gap<\/div>\n<\/div>\n<\/div>\n
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on a day like today and maybe that area<\/div>\n<\/div>\n<\/div>\n
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of buying<\/div>\n<\/div>\n<\/div>\n
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is signaling that it’s ready to turn so<\/div>\n<\/div>\n<\/div>\n
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really really good example there it’s<\/div>\n<\/div>\n<\/div>\n
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also worth noting that<\/div>\n<\/div>\n<\/div>\n
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that news with amazon turned out to be<\/div>\n<\/div>\n<\/div>\n
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complete rumor<\/div>\n<\/div>\n<\/div>\n
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although we had no way of really knowing<\/div>\n<\/div>\n<\/div>\n
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that during the time of the trade<\/div>\n<\/div>\n<\/div>\n
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that’s also an advantage that we have<\/div>\n<\/div>\n<\/div>\n
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because people came into the trading day<\/div>\n<\/div>\n<\/div>\n
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today<\/div>\n<\/div>\n<\/div>\n
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and it was just a naming error<\/div>\n<\/div>\n<\/div>\n
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you know on the part of the third-party<\/div>\n<\/div>\n<\/div>\n
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bike manufacturer<\/div>\n<\/div>\n<\/div>\n
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and i’ll we’ll mention this is kind of<\/div>\n<\/div>\n<\/div>\n
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how the stock played out through the<\/div>\n<\/div>\n<\/div>\n
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rest of the morning until 10 30.<\/div>\n<\/div>\n<\/div>\n
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i can see that buying area which was in<\/div>\n<\/div>\n<\/div>\n
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here where we really highlighted<\/div>\n<\/div>\n<\/div>\n
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never really came back to here and<\/div>\n<\/div>\n<\/div>\n
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trading this short could have given me<\/div>\n<\/div>\n<\/div>\n
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enough information to also get long and<\/div>\n<\/div>\n<\/div>\n
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make another<\/div>\n<\/div>\n<\/div>\n
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trade in that in that way when those<\/div>\n<\/div>\n<\/div>\n
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trade decisions come<\/div>\n<\/div>\n<\/div>\n
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\n
so just goes to show that that morning<\/div>\n<\/div>\n<\/div>\n
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information and reading the tape can<\/div>\n<\/div>\n<\/div>\n
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\n
help<\/div>\n<\/div>\n<\/div>\n
\n
\n
you see trends and also see the shorter<\/div>\n<\/div>\n<\/div>\n
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term plays<\/div>\n<\/div>\n<\/div>\n
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hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
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button so you don’t miss any of the<\/div>\n<\/div>\n<\/div>\n
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videos they are producing for you and<\/div>\n<\/div>\n<\/div>\n
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take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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you’d like for us to produce next<\/div>\n<\/div>\n<\/div>\n
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* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

In this video, learn how to use Tape Reading to determine one of the most profitable exits. Two traders from our firm and I discuss a recent trade in Peloton ($PTON) where one of the best exits was spotted with Tape Reading. And where the Swing Trade was not as profitable as a short-term trade. Let\u2019s get to work on … Read More<\/a><\/p>\n","protected":false},"author":290,"featured_media":50142,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50146","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nHow to use Tape Reading to determine one of the most profitable exits | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/how-to-use-tape-reading-to-determine-one-of-the-most-profitable-exits\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to use Tape Reading to determine one of the most profitable exits | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video, learn how to use Tape Reading to determine one of the most profitable exits. Two traders from our firm and I discuss a recent trade in Peloton ($PTON) where one of the best exits was spotted with Tape Reading. And where the Swing Trade was not as profitable as a short-term trade. Let\u2019s get to work on ... 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