JBL Trade on Sep 26, 2019 09:40 from beno: Tradervue User Stock Trades.

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beno

 

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
- China trade talks productive, China purchased agriculture products from US
- Fed approved next rate cut of 0.25% (new rate is 1.75-2.00)
- Formal inquiry launched for Trump impeachment (Cover-up, secret server, abuse of power)

Markets Intraday
- PM: Hugging 298.30’s then down trend by $1
- Morning: Down-trend all morning, volume spike at 11am on new Trump impeachment news
- Afternoon: Bounced from 295.50 and trended up to 297.70
- End of Day: End of day selling

Technical Analysis – Long Term
- LT uptrend
- Broke out to new highs on news

Technical Analysis – Intraday
- Day1: Gapped up $1 then had inside day
- Day2: Strong trend up with SPY
- Today: Broke down to 34.80 with market momentum then created ascending wedge against yesterdays high

Catalysts / News
- Q EPS beat, Revs up Y/Y 13.9%
- Announced share buyback - ~5% of float

Original Plan
Try to long continued momentum from yesterdays from one of yesterdays levels. Stock was showing support at yesterdays afternoons low of 35.25, will long at this level.

Execution Notes
Got filled on my long at 35.22 for 2 lots with a stop at 34.98 for 3R’s of risk. SPY didn’t bounce and JBL followed its path downward. I sold my position near my stop at 34.94.

Review
I don’t have much to review on this trade. However, the catalyst could have been better as they didn’t raise next years guidance. They did announce a share repurchase agreement which was equal to 5% of its float so I assumed that paired with their earnings beat would have provided enough interest for the trade to work.

Grade Questions

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

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


Execution detail:

Date/time Symbol Side Price Position
2019-09-26 09:40:07 JBL buy $35.220 long
2019-09-26 09:56:18 JBL sell $34.940 0


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