ROKU Trade on Sep 23, 2019 10:28 from beno: Tradervue User Stock Trades.

Big Picture
- SPY Hovering near ATM (302), having hard time breaking level
- Saudi Aramco attacks causing volatility in oil prices, production back by end of September
- US/China trade talks have been “constructive” and “productive”
- Fed approved next rate cut of 0.25% (new rate is 1.75-2.00)
- British travel firm Thomas Cook collapses stranding hundreds of thousands

Markets Intraday
- PM: Tested 298 resistance
- Morning: Bull wedge against 298
- Afternoon: Trended higher to 299

Technical Analysis – Long Term
- LT uptrend, above 200-day SMA
- Growth stock

Technical Analysis – Intraday
- Sold hard on news of competition from Comcast and Facebook
- Filled gap from August (111)
- Currently consolidating below July’s high from 106 to 111

Catalysts / News
- Many new competitors entering the streaming space:
- Comcast giving free xFinity streaming box with new subs
- Facebook enters TV Streaming box space

Original Plan
Play Friday and PM levels based on price action this morning. After huge OD up (tested 111) then a complete retracement to the downside (tested 106), my bias was short. Some selling pressure was coming in near the 110 Friday/PM level on its way back up from 106 and I would short against there.

Execution Notes
Got filled at 109.38 with a mental stop above the last wicks high at 109.98 for a 60-cent / 3R stop. I sold and got filled at 109.54 covering my entire position because SPY and Q’s were showing strength and signs that the current LH was fake, this was my Reason2Sell (market strength).

Review
I could have tried the trade again for a nice point and a half leg with possible continued selling but I was chatting on Discord when I missed the new entry. Perhaps I need to avoid the chats until morning trading is complete?!

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: early cover
What justified the modifications?: Reason2Sell: SPY / QQQ strength, possible fake LH
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes

Grade: B
(1=D, 2=C, 3=B, 4=A)