One of the ways I use the SMB Radar to identify the best stocks and setups to see if a ticker is appearing at the top of multiple categories simultaneously.  At 10:37AM today LO was atop In Play, Weak Today, and Opening Range.  It was consolidating at the low of the day after a strong Opening Drive.  I love this setup.

My trading style dictates opening a small position as close to the top of the consolidation as possible and then adding when it trades below the intraday low.  In this case 114.50 was the top of the range and 114.20 was the bottom.

I will look at the Opening Drive and longer term levels to determine profit targets.  The opening down move in LO was about $2 so based on the selling at 114.50 there could be a down move to 112.50.  If you were to use the opening low as the start of the next down move that would give you a target of around 112.20.  The other two prices I looked for targets were the most recent consolidation range from last wednesday of 112.25 to 112.70.  I will use all three of these prices to to cover part of my short if there is any buying on the tape.

LO eventually spiked down to around 112.50 but only was down there very briefly and required aggressive covering not to give back a lot of open PnL.