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Aug 27, 2019 09:45

Shares traded: 200
Closed Gross P&L: $1.60


Long VWAP Support Play

Intraday Fundamentals
• omo (NASDAQ:MOMO) reported second-quarter earnings of 82 cents per share, which beat the analyst consensus estimate of 72 cents by 13.89%. This is a 24.24% increase over earnings of 66 cents per share from the same period last year.
• The company reported quarterly sales of $604.899 million, which beat the analyst consensus estimate of $574.29 million by 5.33%. This is a 22.38% increase over sales of $494.27 million the same period last year.
• "Since the full restoration of its download and payment service in mid-July, Tantan has been recovering with robust momentum across different user and revenue metrics," said CEO Yan Tang. "It demonstrated the strong demand for online dating service in China and Tantan's unique position in this sector. We expect Tantan to become an important driver of the company's growth in the coming few years."
• Momo shares were trading up 3.2% at $33.78 in Tuesday’s pre-market session. The stock has a 52-week high of $49.38 and a 52-week low of $22.85.

ADV 2.67 RVOL 1.19 ATR 1.41 BETA 2.29 Short 10% Inst Own77.30%



Trading Plan
• I had a plan for this… I am not sure if it did not save. But, it is hard to remember, but I believe I wanted to pull a long off of 32.80 or 32.50 with the stop just underneath 32.20
• Bummed that this did not save..
Reading the Tape
There was not a lot of tape reading with the initial trade on this. I could tell when it got weak at 35 though.
Trade management

Trade Review
• I did plan and prep for this. I seemed to have lost the notes on this from the AM game plan.
• I did not have a plan to long this unless it flushed at the opening.
• I did take the strength of the stock at the open and felt that VWAP was going to act as support.
• I was planning on taking this to near the HoD and take some off at 35.
• I did manage to take some off after it quickly rejected 35
• I should have set the remaining to breakeven
• Scratch trade… very minor profit
Trade grade
Aspect Score Poss. Notes
Preparation 7 10 I was aware of the news making this stock strong into the opening and was looking for longs
Hard Work 6 10 I did not read much from the tape other than the hard rejection off of 35
Patience 6 10 Yes. I did wait for this to come back in a little before taking it long this helped
Plan 7 10 I did have a plan to take this to 35 and the HoD
Discipline 4 10 It is hard to say.. the hold for a better entry was disciplined but not bring the stop after taking the partial may not have been.
Contribution NA 10

Replay 0 10

Execution detail:

Date/time Symbol Qty Price Position
2019-08-27 09:45:25 MOMO 100 $34.558 100
2019-08-27 09:49:13 MOMO -50 $34.787 50
2019-08-27 09:50:54 MOMO -50 $34.360 0

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