CGC Trade on Jun 4, 2019 15:59 from Marius: Tradervue User Stock Trades.

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Marius

 

SPY's and market ending the sell off for now. FED signaling rate cuts towards EOY. Overly bearish sentiment and normal expected technical pull-back. Notable shorts having to cover. Just trading on the active trading account but not adjusting longer-term positions but keeping note. Mid-term positioning still all cash but looking for daily confirmation of trend changes (looking for 5D EMA). Will get a better idea later this week. Trading CGC as this is the largest cap name in the sector and volume is relatively higher. Historically daily OS bounces are strong. Looking for a daily lower high from here but considering a longer-term position.

**reference RRG (for any notable rotations)

  • RVOL D, 1.05 (not too notable but will see how bull volume develops from here)
  • Market Cap 9.52B
  • ATR 1.95
  • Short Float 36.53% (notable if spy's and market continue running prolonging consolidation)
  • Institutional Ownership ?

SPY D,
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XLI D,
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XSD D,
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*Chose the charts above as this was making more sense to me but I did review other sectors as well. Notable similarities with slight differences. ie. XLF,XLK,QQQ

CGC D,
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CGC, 130m
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CGC M, (longer-term quarterly time frame) Decreasing volume. Looking to see how this holds up with the market and develop in the next couple quarters.
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CGC W, Key support breaking through. This is an interesting pivot point and area of importance. If there is no follow through on the bearish breaking direction a stronger move in the other direction can play out here. It could top out as well, cool off and head back down to re-test.
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CGC D, 06/06/19 EOD chart update
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CGC 5m, 06/06/19 notable bullish price action. HH's + HL's above VWAP + market bullish price action. Tomorrow is EOW.
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CGC 5m 06/07/19, scaled half of position within the first hour of day of bullish price action. Moved up stop loss to a profitable position. I was doing this all on mobile this morning and with 3 hours of sleep. Major disadvantage physically & mentally. Also I did not have the the level 2 or tape to analyze together. Was also managing my other trade in UBER and the level 2 and tape would have been essential at key level (noting in that trade notes)
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Trade Review
Exited the rest of my position on a strong higher open. I had an something scheduled from morning until through-out the day and would't have been able to manage the position as effectively. Although I was checking in on the market on my phone during the day. SPY also managed to put in a signal reversal for the day. (still awaiting confirmation. SPY is in an area where resistance may be expected. Wanted to play it safe and start the week off strong along with my TLRY trade (more notes on that side)

CGC 2m, (pre-market action with higher open)
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SPY D,
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Execution detail:

Date/time Symbol Side Price Position
2019-06-04 15:59:20 CGC buy $41.022 long
2019-06-07 09:50:28 CGC sell $42.025 long
2019-06-10 09:30:45 CGC sell $42.776 0


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