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Apr 15, 2019 13:54


Support Reversal Oversold

. Realized nflx has earnings tomorrow. I got long with stop at 343.50
Added on volume increase over 344 moved stop up to 344
Sold 75% at 345.80 as we looked very overextended to the upside this was also the highs of a previous range coming up on VWAP I really probably should have been adding as we got some real good volume come in
I plan on treating the remaining shares as a trade2hold and trading around the core position of 38 shares long
I added early on the pullback and then had a better add when we got close to vwap and then buyers came in
Put out a limit sell order at previous day low for 100 shares
Added as buying increased over 348 stop for this lot is 348
I was able to hold for awhile as there was light volume on the pullbacks and the market looked strong
Stopped out of all right after I wrote that as selling increased heavily compared to what the order flow looked like earlier

Execution detail:

Date/time Symbol Side Price Position
2019-04-15 13:54:50 NFLX buy $343.930 long
2019-04-15 14:03:36 NFLX buy $344.220 long
2019-04-15 14:15:57 NFLX sell $345.729 long
2019-04-15 14:36:15 NFLX buy $347.410 long
2019-04-15 14:39:39 NFLX buy $347.530 long
2019-04-15 14:53:38 NFLX buy $348.300 long
2019-04-15 15:12:49 NFLX sell $348.266 0


2019-04-16 19:57:28

I think you did a great job here. You played the breakout and added when the level held, then you sold into a strong up-move as it pushed into a resistance level. The stock didn't have to go all the way back up to VWAP. If I were looking at this as the chart were forming I would take the stance that if the stock were going to put in a lower high it would do it right in the area that you had sold into.

I agree there should have been a buy when VWAP held for the next leg up, but looking at the chart I like what you did anyway. You let it break, top out, and pull back. You then saw the 347 breakout level hold and you bought for the next leg up. I don't know how I feel about that last add, but I like that you read the tape and took off the entire position as it was getting weaker and proving that it didn't want to hold above 348.50.

2019-04-19 22:10:25

thanks brother! hopefully i can make some more turn out this well

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