ROKU Trade on Sep 24, 2019 10:15 from beno: Tradervue User Stock Trades.

Big Picture
- SPY consolidating below ATH (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)
- SPY drops on Trump impeachment concerns, holding above 282-294 range

Markets Intraday
- PM: Consolidation in 299
- Morning: Test of PM high at 299.80 followed by downtrend to 298.50
- Afternoon: Trump authorized release of unredacted Ukraine call, SPY tested 294.80 and ripped up 2$
- End of Day: Selling into 296

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
Held up nicely yesterday so long on one of the levels from yesterday. Long on bounce of 106 or long on break and hold above 110.

Execution Notes
I tried the trace twice at the 106 level but the stock ended up breaking down below the 104 low meaning the selling isn’t done yet and its still in a downtrend. I got filled at an average of 106.05 and sold at an average of 105.86.

1:08pm: After watching ROKU trade to a low of 99 it was making its way back up to 104 (the low of the 3rd day after the massive sell-off). I decided to try the trade again short. I got filled at 104.16 for 1 lot and I decided to scale out of my position slowly with micro lots, covering at 103.87, 103.67, 103.41 and 103.6. At 1:32pm the tape looked weak and I was anticipating another down-leg so I re-added a momo micro-lot, I decided to cover soon after as the tape showed a higher probability of it being a bounce.
I tried the short at 104 one more time at 2:15pm but I stopped out at 104.50.

Review
After reviewing the trade, I should have shorted the stock when price first tested the 110-level right in the morning as this was the first level it touched from the prior days. I had forgotten that the initial trend in the stock was bearish.

Grade Questions

Did I follow my plan? (yes/no/with mods): yes
Which modifications?:
What justified the modifications?: yes
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes

Grade: B