DIS Trade on Aug 7, 2019 11:16 from Cklamb: Tradervue User Stock Trades.

DIS
Intraday Fundamentals
05:48 AM EDT, 08/07/2019 (MT Newswires) -- The Walt Disney Company (DIS), a media and entertainment conglomerate, reported late on Tuesday second-quarter results that missed the market's forecast for revenue and earnings, as an increase in total costs and expenses exceeded a jump in group sales.
Sales at the Burbank, California-based group surged by 33% to $20.25 billion during the three months that ended June 29, from $15.23 billion a year ago, but still missed the $21.4 billion average analyst estimate compiled by Capital IQ.
Earnings per share from continuing operations plunged by 59% to $0.79 from $1.95 a year earlier and excluding certain items affecting comparability, earnings still slumped by 28% to $1.35 per share from $1.87 per share in the prior-year period. The market consensus was for unadjusted earnings of $1.45 per share and normalized earnings per share of $1.74, implying a miss on both accounts.
Profit failed to offset costs in the quarter as the company released films such as Aladdin and Avengers. Total costs and expenses soared by $6.18 billion to $17.49 billion, outpacing the $5.02 billion increase in sales due in part to the jump in programming and production costs at ESPN, higher costs and lower volume at domestic parks.
Disney, which bought in March the TV and film assets of 21st Century Fox and, as a result, ended up owning 60% of Hulu, recently announced a new digital streaming service which is expected to be unveiled in November to challenge the dominance of Netflix (NFLX).
"Our third-quarter results reflect our efforts to effectively integrate the 21st Century Fox assets to enhance and advance our strategic transformation," Chief Executive Officer Robert Iger said in the firm's earnings statement.
Price: 137.00, Change: -4.87, Percent Change: -3.43

Technicals
ADV 8.8M RVOL 2.02 ATR 2.43 BETA .97 Short 1% Inst Own. 66%
Daily

Hourly

Intraday

Trading Plan
Support 135, 134 132 Resistance 135, 136,137, 137.75
• Longs
o Look for a long at 132
o Look for a trend break , be patient set it up
• Shorts
o 135 is shortable after it is tested in the AM
o 136 is shortable if it get there in the first hour
o 137 is the best spot and the highest probability
Reading the Tape
I believe I saw the sellers stepping down into the 135 more often than I was seeing the buyers stepping up. Even as this wicked me out the sellers appeared quickly again as it broke back above 135
Trade Management

Trade Review
• This is solid set up for a scalp, played a little looser good for a Move2Move,
• This set up almost perfectly
• Current exit strategy would have left this at 1 for1 not great
• Breaking candle manages risk well and should allow bigger positions played this tight
• I believe that is better to have exposure to those type of wicks as opposed expand the stop
• I assumed to loss here but felt that this was a higher probability than most of what I took yesterday
Trade Grade
Aspect Score Poss. Notes
Preparation 9 10 A short @ 135 was in the game plan this morning. This set up was a bonus
Hard Work 8 10 Yeah, tape read best I could experiment with acouple angles of the trend line
Patience 8 10 A little light, there was a chance for me to hold a candle or two and wait for the back side test of the trendline
Plan 8 10 Target @134.07 Playbook used to enter trade(woot!)
Discipline 7 10 Yeah.. a little early but only one candle..
Contribution NA 10

Replay 0 10 I do have tape of this