{"id":6335,"date":"2010-08-04T18:44:03","date_gmt":"2010-08-04T22:44:03","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=6335"},"modified":"2010-08-04T18:44:03","modified_gmt":"2010-08-04T22:44:03","slug":"dndn-a-replay","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/dndn-a-replay","title":{"rendered":"DNDN- A Replay"},"content":{"rendered":"<p>Before the Open I asked SMB Trader CST, &#8220;What are you looking at?&#8221;<br \/>\n&#8220;I am thinking of trading DNDN Bella.  I am looking for an opening drive.&#8221;<br \/>\nI checked briefing.com:<br \/>\nDendreon: Provenge launch is on track<br \/>\nThe market reacted positively to this news as DNDN was gapping up. On our long term charts 37.50 and 40 were the next important technical resistance levels.  And then came the classic gap and go pattern.  <\/p>\n<p>Before the open @alphatrends tweeted:<\/p>\n<blockquote><p>i laugh to myself when i see tweets about the market which are written with tone of fact &#8220;XYZ is going to be 20% higher by nxt week&#8221; etc<br \/>\nabout 10 hours ago via StockTwits Desktop<br \/>\nRetweeted by you and 2 others<\/p><\/blockquote>\n<p>In mid trade with our DNDN position I tweeted jokingly:<\/p>\n<blockquote><p>@alphatrends I predict $DNDN may (or may not) get to 40 today \ud83d\ude42<br \/>\nabout 9 hours ago via web<\/p><\/blockquote>\n<p>After the close I asked CST to replay this DNDN set up with our desk.  While he caught most of the move he wished he had done so with more size.  So I placed him in front of the class to explain where he would have added more size while controlling his risk with this very set up.  Specifically I asked for the desk and CST to consider and then discuss where we could have added more size, while controlling our risk with this gap and go pattern.  CST and myself caught this move but we definitely left money on the table.  This was an exercise for a better result the next gap and go opportunity.   <\/p>\n<p>We found a consensus for three spots to be more aggressive.  They are marked in the chart below as 1,2 and 3.<br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/places-to-be-aggressive.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/places-to-be-aggressive-300x208.png\" alt=\"\" title=\"places to be aggressive\" width=\"300\" height=\"208\" class=\"aligncenter size-medium wp-image-6337\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/places-to-be-aggressive-300x208.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/places-to-be-aggressive.png 690w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>1. Above 37.50, an important technical resistance level.<br \/>\n2. Above 38.50 with a strong green candle indicating DNDN was going up again.<br \/>\n3. And a hold above 39, an intraday resistance level.<\/p>\n<p>Where to be aggressive is not more important than replaying where being more aggressive made the most sense to you.  Next time we will be in a better position to capture this trade with more size, while controlling our risk and with the confidence of a set up well studied.  <\/p>\n<p>Mike Bellafiore<br \/>\nAuthor, <a href=\"http:\/\/www.amazon.com\/gp\/product\/0470529407?ie=UTF8&#038;tag=smtr-20&#038;linkCode=as2&#038;camp=1789&#038;creative=390957&#038;creativeASIN=0470529407\">One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading)<\/a><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.assoc-amazon.com\/e\/ir?t=smtr-20&#038;l=as2&#038;o=1&#038;a=0470529407\" width=\"1\" height=\"1\" border=\"0\" alt=\"\" style=\"border:none !important; margin:0px !important;\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before the Open I asked SMB Trader CST, &#8220;What are you looking at?&#8221; &#8220;I am thinking of trading DNDN Bella. I am looking for an opening drive.&#8221; I checked briefing.com: Dendreon: Provenge launch is on track The market reacted positively to this news as DNDN was gapping up. On our long term charts 37.50 and 40 were the next important &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/dndn-a-replay\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[507,1236,356,1246,4674,1195,1193],"class_list":["post-6335","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-a","tag-best-selling-trading-book","tag-dndn","tag-gap-and-go","tag-one-good-trade","tag-replay","tag-trader-education","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DNDN- A Replay | 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\/dndn-a-replay\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DNDN- A Replay | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Before the Open I asked SMB Trader CST, &#8220;What are you looking at?&#8221; &#8220;I am thinking of trading DNDN Bella. I am looking for an opening drive.&#8221; I checked briefing.com: Dendreon: Provenge launch is on track The market reacted positively to this news as DNDN was gapping up. On our long term charts 37.50 and 40 were the next important ... 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