Shares traded: 200
Closed Gross P&L: $101.00
• Kohl's Corp. (KSS) stock rose 4.2% in Tuesday premarket trading after the retailer reported second-quarter earnings and sales that beat expectations. Net income totaled $241 million, or $1.51 per share, down from $292 million, or $1.76 per share. Adjusted EPS of $1.55 beat the FactSet consensus for $1.53. Revenue of $4.43 billion was down from $4.57 billion last year but ahead of the FactSet guidance for $4.31 billion. Kohl's had a same-store sales decline of 2.9%, below the 2.4% decline FactSet forecast. Chief Executive Michelle Gass said in a statement that same-store sales turned positive during the last six weeks of the quarter with 1% growth. "We are confident that our upcoming brand launches, program expansions, and increased traffic from Amazon returns program will incrementally contribute to our performance during the balance of the year and beyond," she said. Kohl's reaffirmed its annual EPS guidance of $5.15 to $545. FactSet expects $5.23. Kohl's stock has tumbled 27.3% in 2019 while the S&P 500 index has gained 16.6%.
ADV 5M RVOL 1.23 BETA 1.08 ATR2.03 Short 12.46% Inst Own –
• Long for a breakout trade if you see consolidation just above 50
• Find a long if 47 holds during the morning look for the proper pullback
• Consider 48 if It consolidates there and gets above VWAP
• Short scalp if it start to trade below 47 target 3 x risk
Reading the Tape
The tape was decidedly weak around 48. I have recently filtered out everything under 500 shares. The majority of prints that I would see with this filtered were done on the offer some fairly sizable compared to the prints being done on the bid.
My original bias was to find a long on this around 47 if it could hold with some consolidation. The last 10 minutes of premarket opened me up to an earlier short as the downward trend into the open looked like it may have legs. I was looking just to be on the right side of the trend.
• Adjusted bias with pre market action
• Adjusted plan for a short to the level
• Used 47 as the target, on the new entry hit in the limit quickly
• I needed to be open to take the short again after the confirming the next high was lower
• Close to pre market plan
• Original risk would not have allowed me to open the trade any bigger
Aspect Score Poss. Notes
Preparation 8 10 Yes prepared for a couple of scenario
Hard Work 9 10 For the couple minutes that I was waiting for this to set up. I watched intently for the higher probability of taking the trade under the level and felt the tape was in favor of a short
Patience 3 10 On entry
Plan 2 10 For the adjustments the target was set as I entered under 48
Discipline 6 10 Yes… I feel I was able to put the risk when the timing gave me the best chance of working right away or stopping me out quickly.
Contribution NA 10
Replay 0 10
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