{"id":50628,"date":"2021-03-01T15:25:09","date_gmt":"2021-03-01T20:25:09","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50628"},"modified":"2021-03-01T15:25:09","modified_gmt":"2021-03-01T20:25:09","slug":"the-trade-they-wont-teach-you","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-trade-they-wont-teach-you","title":{"rendered":"The Trade They Won\u2019t Teach You"},"content":{"rendered":"

In this video, Steve Spencer discusses a trading edge that exists in the market that very few people are aware of. You may be surprised at how you can take advantage of this trading edge.<\/p>\nView Video Transcript<\/strong><\/span>

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in today’s video we’re going to talk<\/div>\n<\/div>\n<\/div>\n
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about a trading edge that exists in the<\/div>\n<\/div>\n<\/div>\n
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market<\/div>\n<\/div>\n<\/div>\n
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that very few people are aware of and as<\/div>\n<\/div>\n<\/div>\n
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far as i know<\/div>\n<\/div>\n<\/div>\n
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no one else teaches<\/div>\n<\/div>\n<\/div>\n
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i’m stephen spencer i’m a partner at smb<\/div>\n<\/div>\n<\/div>\n
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capital we’re a proprietary trading firm<\/div>\n<\/div>\n<\/div>\n
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in new york city where we trade stocks<\/div>\n<\/div>\n<\/div>\n
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futures<\/div>\n<\/div>\n<\/div>\n
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and options good short-term traders<\/div>\n<\/div>\n<\/div>\n
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spend time<\/div>\n<\/div>\n<\/div>\n
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looking for stocks that have a strong<\/div>\n<\/div>\n<\/div>\n
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catalyst the reason is quite simple<\/div>\n<\/div>\n<\/div>\n
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a strong catalyst will cause a lot of<\/div>\n<\/div>\n<\/div>\n
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people to either buy or sell a stock<\/div>\n<\/div>\n<\/div>\n
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when that happens traders can book<\/div>\n<\/div>\n<\/div>\n
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profits from the increased volatility<\/div>\n<\/div>\n<\/div>\n
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but also control risk as liquidity is<\/div>\n<\/div>\n<\/div>\n
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higher<\/div>\n<\/div>\n<\/div>\n
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allow me to explain a catalyst is a<\/div>\n<\/div>\n<\/div>\n
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piece of news that will cause<\/div>\n<\/div>\n<\/div>\n
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very large market participants to either<\/div>\n<\/div>\n<\/div>\n
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buy<\/div>\n<\/div>\n<\/div>\n
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or sell a stock when i say large i mean<\/div>\n<\/div>\n<\/div>\n
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firms with hundreds of millions or<\/div>\n<\/div>\n<\/div>\n
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billions of dollars in the market<\/div>\n<\/div>\n<\/div>\n
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the essence of all short-term trading is<\/div>\n<\/div>\n<\/div>\n
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attempting to identify<\/div>\n<\/div>\n<\/div>\n
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what these participants are going to do<\/div>\n<\/div>\n<\/div>\n
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and how it may impact price<\/div>\n<\/div>\n<\/div>\n
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if you can do this you can develop a<\/div>\n<\/div>\n<\/div>\n
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trading strategy<\/div>\n<\/div>\n<\/div>\n
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with a great risk reward and the only<\/div>\n<\/div>\n<\/div>\n
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way<\/div>\n<\/div>\n<\/div>\n
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to succeed as a trader is to make<\/div>\n<\/div>\n<\/div>\n
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hundreds of great risk reward trades<\/div>\n<\/div>\n<\/div>\n
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then over time you’ll become the casino<\/div>\n<\/div>\n<\/div>\n
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that is your edge<\/div>\n<\/div>\n<\/div>\n
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part of our trader’s morning routine is<\/div>\n<\/div>\n<\/div>\n
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scanning for these catalysts<\/div>\n<\/div>\n<\/div>\n
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the tool we use is called the smb<\/div>\n<\/div>\n<\/div>\n
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scanner it identifies the stocks that<\/div>\n<\/div>\n<\/div>\n
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have catalysts<\/div>\n<\/div>\n<\/div>\n
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and have already begun to trade before<\/div>\n<\/div>\n<\/div>\n
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the market officially opens for business<\/div>\n<\/div>\n<\/div>\n
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we develop a short list of stocks to<\/div>\n<\/div>\n<\/div>\n
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focus on and then outline a plan of<\/div>\n<\/div>\n<\/div>\n
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attack<\/div>\n<\/div>\n<\/div>\n
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if you want to find out more about how<\/div>\n<\/div>\n<\/div>\n
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we identify these stocks and develop our<\/div>\n<\/div>\n<\/div>\n
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plan of attacking<\/div>\n<\/div>\n<\/div>\n
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check out the two free hour workshop at<\/div>\n<\/div>\n<\/div>\n
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tradingworkshop.com<\/div>\n<\/div>\n<\/div>\n
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i spend 30 minutes teaching this process<\/div>\n<\/div>\n<\/div>\n
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today’s example is home depot<\/div>\n<\/div>\n<\/div>\n
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the reported earnings for q4 and<\/div>\n<\/div>\n<\/div>\n
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something stood out that was unusual<\/div>\n<\/div>\n<\/div>\n
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despite reporting strong revenue their<\/div>\n<\/div>\n<\/div>\n
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earnings per shares were below<\/div>\n<\/div>\n<\/div>\n
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estimates for those who of you who<\/div>\n<\/div>\n<\/div>\n
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aren’t familiar with income statements<\/div>\n<\/div>\n<\/div>\n
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this is a potential red flag for every<\/div>\n<\/div>\n<\/div>\n
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dollar of revenue a company receives<\/div>\n<\/div>\n<\/div>\n
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a certain percentage covers their costs<\/div>\n<\/div>\n<\/div>\n
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and a certain percentage is profit<\/div>\n<\/div>\n<\/div>\n
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for example a business like home depot<\/div>\n<\/div>\n<\/div>\n
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may make a ten dollar profit for every<\/div>\n<\/div>\n<\/div>\n
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hundred dollars in revenue<\/div>\n<\/div>\n<\/div>\n
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if their report is a hundred dollars of<\/div>\n<\/div>\n<\/div>\n
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revenue and only five dollars of profit<\/div>\n<\/div>\n<\/div>\n
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this can make investors very nervous<\/div>\n<\/div>\n<\/div>\n
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now to the technicals let’s take a look<\/div>\n<\/div>\n<\/div>\n
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at our am game plan notes<\/div>\n<\/div>\n<\/div>\n
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each one of these levels are based on<\/div>\n<\/div>\n<\/div>\n
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our prior support resistance areas<\/div>\n<\/div>\n<\/div>\n
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established by buyers and sellers<\/div>\n<\/div>\n<\/div>\n
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and with a short bias we will look for<\/div>\n<\/div>\n<\/div>\n
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the stock to trade down to the support<\/div>\n<\/div>\n<\/div>\n
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levels<\/div>\n<\/div>\n<\/div>\n
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in the game plan sheet if the stock<\/div>\n<\/div>\n<\/div>\n
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shows momentum below our support levels<\/div>\n<\/div>\n<\/div>\n
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then we will stay short for a swing<\/div>\n<\/div>\n<\/div>\n
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trade now here is the part that no one<\/div>\n<\/div>\n<\/div>\n
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will teach you about this setup<\/div>\n<\/div>\n<\/div>\n
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home depot released earnings before the<\/div>\n<\/div>\n<\/div>\n
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market opened and then they held a<\/div>\n<\/div>\n<\/div>\n
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conference call before the market opened<\/div>\n<\/div>\n<\/div>\n
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there is not enough time between the<\/div>\n<\/div>\n<\/div>\n
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earnings release<\/div>\n<\/div>\n<\/div>\n
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and the trading day for many large funds<\/div>\n<\/div>\n<\/div>\n
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to do their analysis<\/div>\n<\/div>\n<\/div>\n
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and decide whether to sell some or all<\/div>\n<\/div>\n<\/div>\n
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of their positions<\/div>\n<\/div>\n<\/div>\n
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so what may happen quite often is on the<\/div>\n<\/div>\n<\/div>\n
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second day<\/div>\n<\/div>\n<\/div>\n
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once those large funds have done their<\/div>\n<\/div>\n<\/div>\n
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analysis<\/div>\n<\/div>\n<\/div>\n
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met with the portfolio managers they may<\/div>\n<\/div>\n<\/div>\n
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decide<\/div>\n<\/div>\n<\/div>\n
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to sell their positions or at least some<\/div>\n<\/div>\n<\/div>\n
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of their positions because of this huge<\/div>\n<\/div>\n<\/div>\n
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red flag that we saw<\/div>\n<\/div>\n<\/div>\n
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and that’s something that you can take<\/div>\n<\/div>\n<\/div>\n
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advantage of<\/div>\n<\/div>\n<\/div>\n
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and so we’ll go through we’ll take a<\/div>\n<\/div>\n<\/div>\n
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look at the longer term chart we’ll look<\/div>\n<\/div>\n<\/div>\n
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at when they reported<\/div>\n<\/div>\n<\/div>\n
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two quarters ago last quarter in this<\/div>\n<\/div>\n<\/div>\n
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quarter see how things set up<\/div>\n<\/div>\n<\/div>\n
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technically<\/div>\n<\/div>\n<\/div>\n
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because ultimately even though we have<\/div>\n<\/div>\n<\/div>\n
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this red flag in the earnings report<\/div>\n<\/div>\n<\/div>\n
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and we know that the stock there’s a<\/div>\n<\/div>\n<\/div>\n
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good chance that some large<\/div>\n<\/div>\n<\/div>\n
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institutions will sell we want to<\/div>\n<\/div>\n<\/div>\n
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understand what the important price<\/div>\n<\/div>\n<\/div>\n
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levels are<\/div>\n<\/div>\n<\/div>\n
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to give us a further edge rather than<\/div>\n<\/div>\n<\/div>\n
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blindly shorting the stock<\/div>\n<\/div>\n<\/div>\n
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first chart we’re looking at here is a<\/div>\n<\/div>\n<\/div>\n
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daily chart and what we can see<\/div>\n<\/div>\n<\/div>\n
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is that home depot actually went up<\/div>\n<\/div>\n<\/div>\n
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quite a bit last year<\/div>\n<\/div>\n<\/div>\n
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it traded up from about 180 to a share<\/div>\n<\/div>\n<\/div>\n
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and since that time has had two earnings<\/div>\n<\/div>\n<\/div>\n
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releases just before the most recent one<\/div>\n<\/div>\n<\/div>\n
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a few days ago<\/div>\n<\/div>\n<\/div>\n
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the first time they reported you can see<\/div>\n<\/div>\n<\/div>\n
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there wasn’t a lot of price action<\/div>\n<\/div>\n<\/div>\n
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um towards the upper part of this<\/div>\n<\/div>\n<\/div>\n
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consolidation we’re looking at<\/div>\n<\/div>\n<\/div>\n
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the next time they reported it was at<\/div>\n<\/div>\n<\/div>\n
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the top of the range sold off pretty<\/div>\n<\/div>\n<\/div>\n
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hard<\/div>\n<\/div>\n<\/div>\n
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that’s something we want to keep in mind<\/div>\n<\/div>\n<\/div>\n
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because we know<\/div>\n<\/div>\n<\/div>\n
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that stocks tend to have a muscle memory<\/div>\n<\/div>\n<\/div>\n
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they will repeat themselves in terms of<\/div>\n<\/div>\n<\/div>\n
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patterns<\/div>\n<\/div>\n<\/div>\n
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and if you have a similar setup where a<\/div>\n<\/div>\n<\/div>\n
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stock gaps up again<\/div>\n<\/div>\n<\/div>\n
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and you see a red flag type of news that<\/div>\n<\/div>\n<\/div>\n
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perhaps you can have a wide range day<\/div>\n<\/div>\n<\/div>\n
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and it can sell off pretty hard the<\/div>\n<\/div>\n<\/div>\n
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other thing we want to make an important<\/div>\n<\/div>\n<\/div>\n
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note of here<\/div>\n<\/div>\n<\/div>\n
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is this is a very large trading range<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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when the earnings report comes out it is<\/div>\n<\/div>\n<\/div>\n
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still inside of that large trading range<\/div>\n<\/div>\n<\/div>\n
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and if it’s showing weakness we have a<\/div>\n<\/div>\n<\/div>\n
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we basically that bottom of the range is<\/div>\n<\/div>\n<\/div>\n
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a target it’s basically you the<\/div>\n<\/div>\n<\/div>\n
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analogy i was gonna say is it it’s like<\/div>\n<\/div>\n<\/div>\n
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something with a target it’s on its back<\/div>\n<\/div>\n<\/div>\n
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the target for when the stock gaps down<\/div>\n<\/div>\n<\/div>\n
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is that<\/div>\n<\/div>\n<\/div>\n
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bottom blue line there where it’s<\/div>\n<\/div>\n<\/div>\n
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supported over the last<\/div>\n<\/div>\n<\/div>\n
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i don’t know seven or eight months or so<\/div>\n<\/div>\n<\/div>\n
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going all the way back to august of 2020<\/div>\n<\/div>\n<\/div>\n
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and so if we have a decent amount of<\/div>\n<\/div>\n<\/div>\n
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room between that support and where it’s<\/div>\n<\/div>\n<\/div>\n
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opening<\/div>\n<\/div>\n<\/div>\n
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on day one we can trade it on the short<\/div>\n<\/div>\n<\/div>\n
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side and remember<\/div>\n<\/div>\n<\/div>\n
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this video is about being short on day<\/div>\n<\/div>\n<\/div>\n
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two this doesn’t mean<\/div>\n<\/div>\n<\/div>\n
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when i see a red flag and the margins<\/div>\n<\/div>\n<\/div>\n
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don’t look good that i’m not going to<\/div>\n<\/div>\n<\/div>\n
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short it on day one<\/div>\n<\/div>\n<\/div>\n
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but i’m very mindful that i want to be<\/div>\n<\/div>\n<\/div>\n
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shorted on day two<\/div>\n<\/div>\n<\/div>\n
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if there’s going to be large funds where<\/div>\n<\/div>\n<\/div>\n
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they’re going to basically<\/div>\n<\/div>\n<\/div>\n
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start to hit the bids and the third<\/div>\n<\/div>\n<\/div>\n
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thing is if it then<\/div>\n<\/div>\n<\/div>\n
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closes below the bottom of this<\/div>\n<\/div>\n<\/div>\n
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consolidation area<\/div>\n<\/div>\n<\/div>\n
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i am going to just stick with it on the<\/div>\n<\/div>\n<\/div>\n
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short side because we know<\/div>\n<\/div>\n<\/div>\n
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that anytime you have a long period of<\/div>\n<\/div>\n<\/div>\n
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consolidation and a stock moves outside<\/div>\n<\/div>\n<\/div>\n
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of that range<\/div>\n<\/div>\n<\/div>\n
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it can attract more sellers or buyers<\/div>\n<\/div>\n<\/div>\n
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depending on which way it breaks<\/div>\n<\/div>\n<\/div>\n
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on the upside obviously they attract<\/div>\n<\/div>\n<\/div>\n
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more buyers you can have another<\/div>\n<\/div>\n<\/div>\n
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huge move to the upside and if it breaks<\/div>\n<\/div>\n<\/div>\n
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to the downside<\/div>\n<\/div>\n<\/div>\n
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it’ll attract more sellers people who<\/div>\n<\/div>\n<\/div>\n
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are technically inclined<\/div>\n<\/div>\n<\/div>\n
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um and then it adds more fuel to the<\/div>\n<\/div>\n<\/div>\n
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fire and it can be the beginning of a<\/div>\n<\/div>\n<\/div>\n
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larger downtrend and we’ll see how this<\/div>\n<\/div>\n<\/div>\n
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unfolds over the next couple of weeks so<\/div>\n<\/div>\n<\/div>\n
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here’s the intraday chart<\/div>\n<\/div>\n<\/div>\n
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so this is day one and what you can see<\/div>\n<\/div>\n<\/div>\n
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is<\/div>\n<\/div>\n<\/div>\n
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the top blue line is what we put on you<\/div>\n<\/div>\n<\/div>\n
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on the morning game plan sheet you saw<\/div>\n<\/div>\n<\/div>\n
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in flexion it’s a common question we get<\/div>\n<\/div>\n<\/div>\n
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what is this inflection steve what do<\/div>\n<\/div>\n<\/div>\n
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you mean by inflection inflection is a<\/div>\n<\/div>\n<\/div>\n
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price<\/div>\n<\/div>\n<\/div>\n
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that right when the market opens on day<\/div>\n<\/div>\n<\/div>\n
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one if the stock is below that level<\/div>\n<\/div>\n<\/div>\n
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i will look for it to trade down to the<\/div>\n<\/div>\n<\/div>\n
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support levels and if i have a short<\/div>\n<\/div>\n<\/div>\n
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bias<\/div>\n<\/div>\n<\/div>\n
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in this case i did because of the issue<\/div>\n<\/div>\n<\/div>\n
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with the margins<\/div>\n<\/div>\n<\/div>\n
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that red flag if it opens just below the<\/div>\n<\/div>\n<\/div>\n
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inflection<\/div>\n<\/div>\n<\/div>\n
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i will look to trade it on the short<\/div>\n<\/div>\n<\/div>\n
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side and it very quickly trades down to<\/div>\n<\/div>\n<\/div>\n
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s2<\/div>\n<\/div>\n<\/div>\n
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take profits and then see what happens<\/div>\n<\/div>\n<\/div>\n
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from there now in this case it actually<\/div>\n<\/div>\n<\/div>\n
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traded all the way down<\/div>\n<\/div>\n<\/div>\n
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below s3 that means that there’s strong<\/div>\n<\/div>\n<\/div>\n
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downside momentum<\/div>\n<\/div>\n<\/div>\n
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so this in a sense you know despite the<\/div>\n<\/div>\n<\/div>\n
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fact that many funds are not going to do<\/div>\n<\/div>\n<\/div>\n
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anything until day two<\/div>\n<\/div>\n<\/div>\n
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day three not on day one there’s people<\/div>\n<\/div>\n<\/div>\n
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selling this<\/div>\n<\/div>\n<\/div>\n
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when it gaps lower conference call<\/div>\n<\/div>\n<\/div>\n
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nothing was said in the conference call<\/div>\n<\/div>\n<\/div>\n
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to make<\/div>\n<\/div>\n<\/div>\n
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anyone feel any better so the market<\/div>\n<\/div>\n<\/div>\n
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opens and there’s some selling<\/div>\n<\/div>\n<\/div>\n
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and the momentum is to the downside and<\/div>\n<\/div>\n<\/div>\n
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we know the momentum’s to the downside<\/div>\n<\/div>\n<\/div>\n
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because it’s taken all of the three<\/div>\n<\/div>\n<\/div>\n
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support levels we’ve identified in the<\/div>\n<\/div>\n<\/div>\n
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morning meeting<\/div>\n<\/div>\n<\/div>\n
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and again as i said if you want to<\/div>\n<\/div>\n<\/div>\n
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understand how we develop support levels<\/div>\n<\/div>\n<\/div>\n
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how we pick the stocks<\/div>\n<\/div>\n<\/div>\n
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just go to tradingworkshop.com this is<\/div>\n<\/div>\n<\/div>\n
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all covered in the two hour workshop<\/div>\n<\/div>\n<\/div>\n
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so after it goes below s3 and starts to<\/div>\n<\/div>\n<\/div>\n
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turn back to the upside<\/div>\n<\/div>\n<\/div>\n
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the most common thing that i’ll do is<\/div>\n<\/div>\n<\/div>\n
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well the first thing i’ll do is i’ll<\/div>\n<\/div>\n<\/div>\n
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look to see if it fails at s2<\/div>\n<\/div>\n<\/div>\n
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if it gets above s2 then i would look to<\/div>\n<\/div>\n<\/div>\n
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shorten test one but<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s very unusual for a stock to have<\/div>\n<\/div>\n<\/div>\n
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that much downside momentum in the<\/div>\n<\/div>\n<\/div>\n
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morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
retrace all the way back up to s1 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
not be a pretty good short entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so in this case i’ve circled that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s the first spot i circled as it<\/div>\n<\/div>\n<\/div>\n
\n
\n
retraces back up to s1<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the great thing about it is it<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually moves sideways<\/div>\n<\/div>\n<\/div>\n
\n
\n
as traders what we like is sideways<\/div>\n<\/div>\n<\/div>\n
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\n
action which we call consolidation<\/div>\n<\/div>\n<\/div>\n
\n
\n
because it’s the easiest way for us to<\/div>\n<\/div>\n<\/div>\n
\n
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control our risk so anytime something<\/div>\n<\/div>\n<\/div>\n
\n
\n
retraces all the way back up to s1 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then starts to move sideways<\/div>\n<\/div>\n<\/div>\n
\n
\n
that allows you to put on a large<\/div>\n<\/div>\n<\/div>\n
\n
\n
position the reason it allows you to put<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a large position is<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s very easy to identify where to put<\/div>\n<\/div>\n<\/div>\n
\n
\n
your stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
your stop is going to be above<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know about 15 percent of an atr<\/div>\n<\/div>\n<\/div>\n
\n
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above that<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation range that we’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
identified and i’m talking about an<\/div>\n<\/div>\n<\/div>\n
\n
\n
intraday trading perspective<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you shorted this right on the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a swing trade and you’re just going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be shorted as long as it closes below<\/div>\n<\/div>\n<\/div>\n
\n
\n
the inflection for the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
um that’s not what we’re talking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
right now we’re talking about a<\/div>\n<\/div>\n<\/div>\n
\n
\n
retracement trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
intraday short entry um<\/div>\n<\/div>\n<\/div>\n
\n
\n
at s1 when it comes back down to s2<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe cover a quarter position<\/div>\n<\/div>\n<\/div>\n
\n
\n
it comes back down to s3 cover another<\/div>\n<\/div>\n<\/div>\n
\n
\n
quarter then you would be have half the<\/div>\n<\/div>\n<\/div>\n
\n
\n
position left as a swing in this case it<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t do that<\/div>\n<\/div>\n<\/div>\n
\n
\n
it rolled over back below s2 started to<\/div>\n<\/div>\n<\/div>\n
\n
\n
retrace back up to s1<\/div>\n<\/div>\n<\/div>\n
\n
\n
and they’re still selling it there sell<\/div>\n<\/div>\n<\/div>\n
\n
\n
it again short it again<\/div>\n<\/div>\n<\/div>\n
\n
\n
s1 can’t hold above it short it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’ll see what happens starts to<\/div>\n<\/div>\n<\/div>\n
\n
\n
roll over but it actually goes up<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s unfortunate right but this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading we want to make this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
every time we see this setup where it<\/div>\n<\/div>\n<\/div>\n
\n
\n
goes down momentum on the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
negative piece of news retraces back up<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re selling at the key level<\/div>\n<\/div>\n<\/div>\n
\n
\n
short it comes back up to the key level<\/div>\n<\/div>\n<\/div>\n
\n
\n
again short it again<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this case it actually moved higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
from an intraday perspective you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to have to<\/div>\n<\/div>\n<\/div>\n
\n
\n
cover most of that position if you were<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding it giving it some more room you<\/div>\n<\/div>\n<\/div>\n
\n
\n
could hold the last 25<\/div>\n<\/div>\n<\/div>\n
\n
\n
of that position until it takes out the<\/div>\n<\/div>\n<\/div>\n
\n
\n
morning high um just so you have some on<\/div>\n<\/div>\n<\/div>\n
\n
\n
day two because remember<\/div>\n<\/div>\n<\/div>\n
\n
\n
this video is about day two so let’s go<\/div>\n<\/div>\n<\/div>\n
\n
\n
over to the right side of that chart<\/div>\n<\/div>\n<\/div>\n
\n
\n
there that’s day two<\/div>\n<\/div>\n<\/div>\n
\n
\n
remember what we talked about we saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
some negative news<\/div>\n<\/div>\n<\/div>\n
\n
\n
big funds they’re gonna the analysts<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna look at it they’re gonna they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna take notes<\/div>\n<\/div>\n<\/div>\n
\n
\n
during the conference call they’re going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to discuss it in their morning meeting<\/div>\n<\/div>\n<\/div>\n
\n
\n
the next morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
before the market opens and they’ll say<\/div>\n<\/div>\n<\/div>\n
\n
\n
they didn’t say anything good on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
conference call<\/div>\n<\/div>\n<\/div>\n
\n
\n
margins were weak even though the<\/div>\n<\/div>\n<\/div>\n
\n
\n
revenues were good the stock ran up 100<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the last eight months or last year we<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t see that much more upside if their<\/div>\n<\/div>\n<\/div>\n
\n
\n
margins are deteriorating despite sales<\/div>\n<\/div>\n<\/div>\n
\n
\n
being strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the next day they’re going to come<\/div>\n<\/div>\n<\/div>\n
\n
\n
in and hit the bids and the reason why<\/div>\n<\/div>\n<\/div>\n
\n
\n
we know<\/div>\n<\/div>\n<\/div>\n
\n
\n
that funds on day two were hitting the<\/div>\n<\/div>\n<\/div>\n
\n
\n
bids if you look at what the market did<\/div>\n<\/div>\n<\/div>\n
\n
\n
on this particular day on day two<\/div>\n<\/div>\n<\/div>\n
\n
\n
the market basically was extremely<\/div>\n<\/div>\n<\/div>\n
\n
\n
strong and went up<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i think a couple of percent um and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you see a stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
that on day two is going on going down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the market’s going up<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you know institutions are dumping<\/div>\n<\/div>\n<\/div>\n
\n
\n
this stock um and so when you come<\/div>\n<\/div>\n<\/div>\n
\n
\n
in same spot that we were looking to<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorten on the retracement on day one is<\/div>\n<\/div>\n<\/div>\n
\n
\n
where you want to short it on day two<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s right below s1 in summary<\/div>\n<\/div>\n<\/div>\n
\n
\n
company reports before the market opens<\/div>\n<\/div>\n<\/div>\n
\n
\n
conference call happens large fund is<\/div>\n<\/div>\n<\/div>\n
\n
\n
not going to be able to put together<\/div>\n<\/div>\n<\/div>\n
\n
\n
their notes the analyst who covers the<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock for the fund<\/div>\n<\/div>\n<\/div>\n
\n
\n
until day one is over so we have an edge<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming into day two<\/div>\n<\/div>\n<\/div>\n
\n
\n
we want to use our levels from day one<\/div>\n<\/div>\n<\/div>\n
\n
\n
to inform our trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and in this case we knew where it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
sold on day one in the area that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
circled twice on day one<\/div>\n<\/div>\n<\/div>\n
\n
\n
when we come in the next morning if it<\/div>\n<\/div>\n<\/div>\n
\n
\n
drops below that level get short<\/div>\n<\/div>\n<\/div>\n
\n
\n
with a stop above the morning high and<\/div>\n<\/div>\n<\/div>\n
\n
\n
if it then continues lower and<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidates below s3<\/div>\n<\/div>\n<\/div>\n
\n
\n
we can look to add to the position and<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this case it just went straight down<\/div>\n<\/div>\n<\/div>\n
\n
\n
so strongly<\/div>\n<\/div>\n<\/div>\n
\n
\n
there really was no place ever to add to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the position but if it had gone down to<\/div>\n<\/div>\n<\/div>\n
\n
\n
s3<\/div>\n<\/div>\n<\/div>\n
\n
\n
moved sideways for 30 minutes or more we<\/div>\n<\/div>\n<\/div>\n
\n
\n
could add to the position with a tight<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop the same way where we entered at s1<\/div>\n<\/div>\n<\/div>\n
\n
\n
on day one<\/div>\n<\/div>\n<\/div>\n
\n
\n
and on the open on day two and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
how you would attack this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
so when you see it when the stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
reports in the pre-market you notice<\/div>\n<\/div>\n<\/div>\n
\n
\n
something there<\/div>\n<\/div>\n<\/div>\n
\n
\n
unusual strong unusual week on day two<\/div>\n<\/div>\n<\/div>\n
\n
\n
use the level from day one<\/div>\n<\/div>\n<\/div>\n
\n
\n
and jump in with confidence as long as<\/div>\n<\/div>\n<\/div>\n
\n
\n
the first move is in the direction of<\/div>\n<\/div>\n<\/div>\n
\n
\n
your bias<\/div>\n<\/div>\n<\/div>\n
\n
\n
<\/div><\/div>\n<\/div>\n<\/div>\n

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

In this video, Steve Spencer discusses a trading edge that exists in the market that very few people are aware of. You may be surprised at how you can take advantage of this trading edge.<\/p>\n","protected":false},"author":290,"featured_media":50629,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50628","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nThe Trade They Won\u2019t Teach You | 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\/the-trade-they-wont-teach-you\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Trade They Won\u2019t Teach You | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video, Steve Spencer discusses a trading edge that exists in the market that very few people are aware of. 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