{"id":9554,"date":"2011-02-01T12:10:19","date_gmt":"2011-02-01T17:10:19","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=9554"},"modified":"2011-02-01T12:10:19","modified_gmt":"2011-02-01T17:10:19","slug":"dont-be-this-guy","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/dont-be-this-guy","title":{"rendered":"Don&#8217;t Be This Guy"},"content":{"rendered":"<p>Yesterday in the AM Meeting I mentioned XOM basically as an aside. \u00a0It had reported earnings and was at the 52 week high in the premarket, so I felt obligated to at least mention that it should be bought above that level. \u00a0So it ended up consolidating tightly right below the 80 level and I&#8217;m sure a bunch of SMB traders bought as the large offer decremented at this level and lifted a whopping one cent!! \u00a0XOM proceeded to drop 50 cents almost immediately creating a sea of red on our risk monitor.<\/p>\n<p>Later in the day Andy the Intern sent me a gchat to let me know that he got long on the real break that happened right after 12:00PM. \u00a0He caught the entire up move with a few other traders but most of those who got crushed in the initial fake break never got back in or traded with less size and finished negative in the stock for the day.<\/p>\n<p>Do you think there was a way for those who entered the stock initially to do a better job of limiting their risk?<\/p>\n<p>How could more have participated in the real breakout?<\/p>\n<p>What are some of the ways that traders could have maximized their PnL on the move in the afternoon?<\/p>\n<p><strong>Please share your thoughts with us<\/strong>.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/02\/xom-fake-break-80.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9562\" title=\"xom fake break 80\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/02\/xom-fake-break-80.png\" alt=\"\" width=\"520\" height=\"364\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/02\/xom-fake-break-80.png 650w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/02\/xom-fake-break-80-300x210.png 300w\" sizes=\"auto, (max-width: 520px) 100vw, 520px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday in the AM Meeting I mentioned XOM basically as an aside. \u00a0It had reported earnings and was at the 52 week high in the premarket, so I felt obligated to at least mention that it should be bought above that level. \u00a0So it ended up consolidating tightly right below the 80 level and I&#8217;m sure a bunch of SMB &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/dont-be-this-guy\" 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":[1,8,456,1373],"tags":[],"class_list":["post-9554","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","category-trader_development","category-trading-lesson","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>Don&#039;t Be This Guy | 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\/dont-be-this-guy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don&#039;t Be This Guy | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Yesterday in the AM Meeting I mentioned XOM basically as an aside. \u00a0It had reported earnings and was at the 52 week high in the premarket, so I felt obligated to at least mention that it should be bought above that level. \u00a0So it ended up consolidating tightly right below the 80 level and I&#8217;m sure a bunch of SMB ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/dont-be-this-guy\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-02-01T17:10:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/02\/xom-fake-break-80.png\" \/>\n<meta name=\"author\" content=\"sspencer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sspencer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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