We had a Spencer Special again today using the Radar (these happen a lot).

As we have said in the past, at 10:30am we look for stocks that are trending. We use the Radar to scan for In Play stocks that are consolidating near important levels. This allows for proper risk management (stops that make sense).

Today we noticed $BEN was very In Play, top Weak Today, top Down Trend on the Radar. Then the Spencer Special set up came into play.

The beauty of this play is its simplicity, here are the requirements:

– The stock is In Play

– Top on the Strong or Weak Today column on the Radar

– Is above / below an important level

– Is consolidating tightly for an extended period of time

$BEN gave us all of these today around 10:30am. As I write this it hit my target of 101.50. I’m sure patient traders like CB are still in it.

–  @tarhini_smb, trader