How To Play The Game
Kenny Rogers said, ‘You got to know when to
hold ’em, know when to fold ’em.’ As traders, the best way that we know when
the time is right, is when our rules of engagement are broken. Different
strategies apply different money-management skills, in order to best play a
particular trade type over the long run. On any given trade, we really don’t
know ahead of time if we ultimately are going to fold our hand, and lose our
initial ante (money management stop loss).
Certain stocks, even when you look to be holding
the proverbial ‘royal flush’ of a position, require that you play the hand out
to the letter. This means no bending the rules, and prematurely folding early on
the ‘tough bluff.’…as some ‘games’ are definitely worth playing through the
entire hand.
09:38:44
Intraday
Setup Alert
Scientific Games (SGMS)
is a potential Taglia
Gap play in today’s trade, as it trades at fresh 52-week highs. Triggers for
continuation plays are currently being monitored for entry above the 15-minute
high. SGMS is up .84 at 10.71 on 100% of average daily volume.
09:47:25
Intraday
Update Alert
Scientific Games (SGMS)
will trigger out of a Taglia
Gap above 10.79. SGMS is up .77 at 10.66.
10:59:57
Intraday Update Alert
Scientific Games (SGMS)
triggered, and although it can be tough at times to stick to the rules…the
issue is still a Taglia
Gap position candidate. The pullback to session lows notched an intraday
double bottom on a retest of prior 52-week highs. You might say that the market
maker ‘was gaming it slightly.’ The issue has just now triggered out of an
intraday Cup & Handle to trade to fresh highs. SGMS is up .1.10 at 10.99.
At times, it can be a tough game to sit through.
But, when you’ve got the hand with edge, you have to stay committed to
disciplined, consistent play if you’re going to take ‘the pot’ away from the
house, over the long run.