LULU Trade on Sep 6, 2019 09:35 from EBartlett: Tradervue User Stock Trades.

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EBartlett

 

Got a good night's sleep last night. Woke up an hour later than planned, but the extra sleep helped me to be more focused. I had a cup of coffee, but since I was running late I didn't eat breakfast. This gave me jitters, but I was hyper-focused. Also, Christine found out yesterday that she will need a surgical procedure to prevent cervical cancer, so I am extra motivated to overcome any challenges today.

Made a note of LULU last night on Briefing, crushed earnings, gapped up and traded above VWAP all night. "beats by $0.07, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY20 EPS in-line, revs in-line... LULU up 3.5% after hours"

Premarket fundamentals: $199, FS%: 2.65, ATR:4.69, Gap%: Vol:256,926, AvgVol:1.8m

Intra-day levels: Support @ 190, 192, 194
Resistance @ 194,198, 200

It was on Steve's Game Plan, and he advised that it would probably bounce off of 202 if it broke 200.

IF break below 196.50, look for short to 194.
IF holds above VWAP, look for break above 200 to get long to 202
It closed above VWAP in the first 5min, and broke 200. I watched for a
large bid below 200 and stepped in front @ 199.70. Fought for price! :-)MY
goal was to be patient, and that's exactly what I did. I added another +100
@ 201.49, took profit @ 202.18 and 202.33. It pulled back as Steve said it
would, when it broke 202, I got long again @ 202.20. I could have gotten in
soonner at a lower price when it retraced and bounced off VWAP, but I
wanted confirmation. I also could have let it run to 204 the 2nd time, but
I was unsure since it was an ATH.
I had to go out and run errands for the afternoon, but I made it back in time for the close. I would have been even more prepared had I stayed home all day, but I don't know that I would have been as focused. Take a break to clear my head midday as a habit perhaps?

LULU on the close:
Volume @ 560%. Checked scanner, checked radar, checked Real Time. Reviewed,
this morning. Prepared, set alerts. Went down mid-day checklist.
Support @ 201.40, 201, 200
Resistance @ 202.25, 203
Watched for buyers holding above VWAP to get long. Strong support @ VWAP.
IF hold, get long, fight for price. IF breaks out, double up on 1st pull-
back.
IF breaks 202.25, get long to 204 (med resistance @ 203, 203.50)
If breaks below 200, short to 198

I got in @ 201.86 with about $0.30 of risk after it held above VWAP and I saw a strong bullish candle. Doubled up when it pulled back @ 202.86. It pulled back further, and I could have waited to get a better price, but it held and moved higher. I noticed stacked bids reappearing @ 202.60-202.80, so I held on and waited. Bids kept coming so I waited some more. I refused to sell out of fear. I saw bigger offers coming through on Level II @ 203, so I slowly downsized, then held on to my last +100. It broke 203, and I held until I saw huge offers inside 203.50. I got out because I knew that was an intra-day resistance (it broke from there this morning. Also, I didn't want to risk getting cought in a sell-off in the last few minutes before the close. Within a minute of getting out LULU dropped $1. I wouldn't have made as much $$$ if I had not focused and planned my entry and exit points.


Execution detail:

Date/time Symbol Side Price Position
2019-09-06 09:35:41 LULU buy $199.700 long
2019-09-06 09:37:12 LULU buy $201.490 long
2019-09-06 09:37:18 LULU sell $202.330 long
2019-09-06 09:40:55 LULU sell $202.180 0
2019-09-06 10:30:18 LULU buy $202.200 long
2019-09-06 10:31:12 LULU sell $202.770 0


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