{"id":949,"date":"2009-06-08T16:28:21","date_gmt":"2009-06-08T20:28:21","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=949"},"modified":"2013-03-15T10:43:43","modified_gmt":"2013-03-15T14:43:43","slug":"trade-on-the-open-mcd","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trade-on-the-open-mcd","title":{"rendered":"Trade on the Open: MCD"},"content":{"rendered":"<p>We teach our desk not to fade weak stocks. \u00a0But there are plays on the Open that look like the stock is weak. \u00a0Actually they are not. \u00a0And these plays are given the green light to fade. \u00a0We had such a <a href=\"http:\/\/www.smbtraining.com\/\">setup<\/a> in MCD on the Open. \u00a0Let&#8217;s discuss.<\/p>\n<p>MCD opened near 58.33, could not hold and traded lower. \u00a0MCD could not hold 58.25 and traded lower. \u00a0MCD could not hold 58.15 and traded lower. \u00a0MCD could not hold 58, after some decent volume, and traded lower. \u00a0MCD traded down to 57.75. \u00a0This must mean MCD is weak right Bella?<\/p>\n<p>Usually, but not always. \u00a0What was different about the downmove in MCD on the open was the bid buying. \u00a0There was significant bid buying at 25c, 15c, 58, 57.85, 57.75. \u00a0Ok so the stock was trading lower. \u00a0But there was so much bid buying. \u00a0And it was still so early in the AM.<\/p>\n<p>I do not trust the trend of a stock until some time has elapsed on the open. \u00a0When I see significant bid buying I understand there is a chance that the stock will reverse. \u00a0And if it does I know that this stock may reverse quickly. \u00a0Hitting the 57.75 bid may be met with an upmove to 58.25 in a few ticks.<\/p>\n<p>So for all you MCD haters on the open, you missed the bid buying. \u00a0Look for this on the open.<\/p>\n<p>Best of luck with your trading! Don&#8217;t forget to <a href=\"http:\/\/twitter.com\/smbcapital\">follow us on Twitter!<\/a>.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-954\" title=\"mcd-06-08-09\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/06\/mcd-06-08-09.bmp\" alt=\"mcd-06-08-09\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We teach our desk not to fade weak stocks. \u00a0But there are plays on the Open that look like the stock is weak. \u00a0Actually they are not. \u00a0And these plays are given the green light to fade. \u00a0We had such a setup in MCD on the Open. \u00a0Let&#8217;s discuss. MCD opened near 58.33, could not hold and traded lower. \u00a0MCD &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/trade-on-the-open-mcd\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4676,306,30,18],"class_list":["post-949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-mcd","tag-prop-trading","tag-smb-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trade on the Open: MCD | 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\/trade-on-the-open-mcd\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade on the Open: MCD | SMB Training\" \/>\n<meta property=\"og:description\" content=\"We teach our desk not to fade weak stocks. \u00a0But there are plays on the Open that look like the stock is weak. \u00a0Actually they are not. \u00a0And these plays are given the green light to fade. \u00a0We had such a setup in MCD on the Open. \u00a0Let&#8217;s discuss. MCD opened near 58.33, could not hold and traded lower. \u00a0MCD ... 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