{"id":6979,"date":"2010-09-07T23:20:15","date_gmt":"2010-09-08T03:20:15","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=6979"},"modified":"2010-09-07T23:20:15","modified_gmt":"2010-09-08T03:20:15","slug":"i-love-that","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/i-love-that","title":{"rendered":"I Love That!"},"content":{"rendered":"<p>During the AM Meeting I spent a few minutes discussing the importance of focusing on the &#8220;right stocks&#8221;.\u00a0 The right stocks are one&#8217;s that have the attention of a sufficient number of market participants to cause them to have powerful and clearly defined moves on many different time frames.\u00a0 Too often traders attempt to execute trades in every stock that they think has a good &#8220;technical&#8221; setup.\u00a0 I also mentioned a nice long setup in RIG that would be triggered if it got above 56.<\/p>\n<p>One of the noobs decided that RIG was the right stock for him but he was in no way married to the idea of being long.\u00a0 He very well could have taken the attitude that &#8220;Steve said this&#8221; or &#8220;Steve said that&#8221; and used it as a crutch to not make the short trade that was warranted by the price action he observed.\u00a0 I love that!<\/p>\n<p>He knew that 54 had been support last week.\u00a0 When he saw the weakness around 10:00 o&#8217;clock and RIG traded below 54 he got short.\u00a0 He told me that he wussed out initially but was able to get back in and make a 60 cent chop as RIG continued to trade lower.<\/p>\n<p>Nice job of thinking independently and even better job of getting back into a stock that was offering opportunity.\u00a0 Perhaps more good things to come from this noob in the future.\u00a0 I will keep you posted.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-54-level-multi-day-view.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-6984\" title=\"rig 54 level multi day view\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-54-level-multi-day-view-300x210.png\" alt=\"\" width=\"300\" height=\"210\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-54-level-multi-day-view-300x210.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-54-level-multi-day-view.png 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-56-break-potential.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-6983\" title=\"rig 56 break potential\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-56-break-potential-300x210.png\" alt=\"\" width=\"300\" height=\"210\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-56-break-potential-300x210.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/rig-56-break-potential.png 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the AM Meeting I spent a few minutes discussing the importance of focusing on the &#8220;right stocks&#8221;.\u00a0 The right stocks are one&#8217;s that have the attention of a sufficient number of market participants to cause them to have powerful and clearly defined moves on many different time frames.\u00a0 Too often traders attempt to execute trades in every stock that &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/i-love-that\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,456],"tags":[1377],"class_list":["post-6979","post","type-post","status-publish","format-standard","hentry","category-steven_spencer_steves_blogs","category-trader_development","tag-l","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>I Love That! | 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\/i-love-that\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I Love That! | SMB Training\" \/>\n<meta property=\"og:description\" content=\"During the AM Meeting I spent a few minutes discussing the importance of focusing on the &#8220;right stocks&#8221;.\u00a0 The right stocks are one&#8217;s that have the attention of a sufficient number of market participants to cause them to have powerful and clearly defined moves on many different time frames.\u00a0 Too often traders attempt to execute trades in every stock that ... 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