Mike Bellafiore, author of the “trading classic” One Good Trade and The PlayBook, talks about his SMB Trade of the Week in $PLUG. This stock was highly in-play this past week, presenting some great trading action which the desk was able to take advantage of.
Highlights from this trade:
1) There were many variables involved in this trade – the big picture, technicals, reading the tape, intraday fundamentals and intuition.
2) A tweet from Citron was the news catalysts that triggered a significant move down in the stock.
3) Topping action was seen in PLUG which turned into the real short setup, below the 10.80 level.
4) Bella gives some great tips for capturing the real move in an overextended stock.
“You can be better tomorrow than you are today!”
Mike Bellafiore
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