{"id":8325,"date":"2010-11-11T10:29:05","date_gmt":"2010-11-11T15:29:05","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=8325"},"modified":"2021-05-06T14:54:40","modified_gmt":"2021-05-06T18:54:40","slug":"the-clean-held-bids-matter-most","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-clean-held-bids-matter-most","title":{"rendered":"The Clean Held Bids Matter Most"},"content":{"rendered":"<p>Young Leo was chirping ANW and its PMKT action. \u00a0We laid out some prices that were most important for the Open: 9.50, above 10, at the PMKT low. \u00a0ANW leaked higher to above 10 which caught our attention. \u00a0Now let me take a step back.<\/p>\n<p>We use the Level 2 to help us make trading decisions. \u00a0We combine our Reading the Tape skills with intraday fundamentals and technicals. \u00a0A Held Bid in a stock above an important technical resistance level, or above an important support level gets our attention. \u00a0In this trading matrix of HFT fights HFT fights other HFT we rarely see held bids.<\/p>\n<p>Now some will then conclude that Reading the Tape is a now\u00a0unnecessary because HFTs manifest an order flow too difficult to read. \u00a0This is the mindset of \u00a0the lesser trader. \u00a0Others will find patterns even in this new world. \u00a0And one pattern we see repeat is the clean held bid foreshadowing a big move.<\/p>\n<p>Think about it. \u00a0With algos omnipresent and the bots a battling, the same price rarely repeats. \u00a0But what if it does? \u00a0What might this mean? \u00a0For us it could mean a very large order has entered the marketplace. \u00a0Why would someone keep buying ANW at 10 and then at 10 and then at 10 during the Open when he can buy down to 9.85 accumulating with a passive buy algo? \u00a0Perhaps because he has a huge buy order at the moment.<\/p>\n<p>&nbsp;<\/p>\n<p>So we saw a clean held bid at 10 in ANW on the open. \u00a0It never dropped. \u00a0There was no 99c 98c 95c, rebid the whole, drop out to 99c 93c, rebid the whole that dominates our key levels. \u00a0It was bought on the bid at 10, bought on the bid at 10, bought on the bid at 10, etc. \u00a0These clean held bids matter most in this market.<\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1289488589&amp;sr=1-1\">One Good Trade <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Young Leo was chirping ANW and its PMKT action. \u00a0We laid out some prices that were most important for the Open: 9.50, above 10, at the PMKT low. \u00a0ANW leaked higher to above 10 which caught our attention. \u00a0Now let me take a step back. We use the Level 2 to help us make trading decisions. \u00a0We combine our Reading &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-clean-held-bids-matter-most\" 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":[10],"tags":[4674,18,1193,1354,1349],"class_list":["post-8325","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-smb-capital","tag-trader-education","tag-trading-coach","tag-trading-mentor","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>The Clean Held Bids Matter Most | 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-clean-held-bids-matter-most\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Clean Held Bids Matter Most | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Young Leo was chirping ANW and its PMKT action. \u00a0We laid out some prices that were most important for the Open: 9.50, above 10, at the PMKT low. \u00a0ANW leaked higher to above 10 which caught our attention. \u00a0Now let me take a step back. 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