NKE Trade on Sep 26, 2019 15:28 from Cklamb: Tradervue User Stock Trades.

NKE
Intraday Fundamentals
• Nike stock was climbing more than 5% in after-hours trading on Tuesday, following the company's fiscal-first- quarter earnings report, in which earnings and sales came in ahead of expectations.
• The back story. Nike shares (ticker: NKE) haven't quite kept pace with the broader market this year, rising about 17.5%, although that is far ahead of other retailers. The company hasn't been hit has hard by tariffs as some peers, and investors have applauded its product innovation and enviable position within the athleisure trend. Still, some worry about the trajectory of the company's sales in China , as well as in the U.S. following disappointing shoe-retailer results. Its previous report, in late June, didn't wow investors.
• What's new. Nike said it earned 86 cents a share on revenue of $10.7 billion . Analysts were looking for 71 cents a share on revenue of $10.43 billion .
• Sales were up 10% for the Nike brand, excluding currency fluctuations, which the company said came from general growth in the category, along with direct and wholesale channels. North American revenue rose 4%, Europe , Middle East , and Africa climbed 12%, and Asia-Pacific and Latin America led with a 13% gain.
• The company said gross margins rose 1.50 percentage points in the quarter, and it repurchased 11.9 million shares in the period. Inventories were up 12% year over year in the quarter, while fixed costs increased 9%, although that didn't seem to bother investors much.
• Looking ahead. Nike has a long history of beating bottom-line consensus estimates, and this most-recent quarter is just a return to form in that sense. Still, it is a relief after a rare earnings miss in the previous period and may be easing some investor fears that Nike , like many other retailers, could be feeling a chill from the trade war/. That is an especially worrisome issue for big multinational brands that are counting on building a presence in China . There was broad-based strength across geographic regions and a double-digit climb in footwear sales. The Jordan brand continued to perform well, as did Nike's direct-to-consumer business, which has been a focus in recent years as traditional retail channels fluctuate.
• From NIKE Q1 Earnings Conference Call: Jordan Brand Saw 'Healthy' Double-Digit Growth In All Geographies
• From NIKE Q1 Earnings Conference Call: Digital Sales Up 42%, CEO Highlights Double-Digit Growth In Greater China For 5 Years In A Row
Technicals
ADV 5.92 RVOL 1.63 BETA .84 ATR 1.62 Short 1% Inst Own 84.60%
Daily

Hourly

Intraday

Trading Strategy
• Looking for gap fill before extension?
• Long at 90 especially if it flushes and bounce off this in the first few minutes of trading
• This will most likely test 91 first from both sides, I would expect pushes to both 92 and 90 before this will start help identify a possible overall direction for the day. Is there still more profit taking or traders thinking 90-91 is the new level of support.
• Short if this thing does hit 92 and starts to reverse hold for the move back to 91

Reading the Tape
I spent a lot of time reading the tape through the last trades on this and saw a few spots that where bidders were clearly stepping up.
Trade Management

Late Trades

Trade Review
• I took the first trade with out taking much time to try and read the tape.
• This is not the way I plan on working a VWAP as support play especially when looking to try to get in on trend continuation as this had just put in a higher high.
• I need to wait for the low and the rebreak of VWAP to take this long
Late trades
• I used the tape and a trend line to take the second trade and found a place where I felt I could get a 4 or 5 to 1 on 5 or 6 cents of risk
• I went to take half off at 2 for 1. I actually added and had to make a quick adjustment. But this cost me a couple cents on the partial
• I debated taking another partial but opted for the 6 to 1 and started looking to a pull back to .50 of VWAP. Which I missed those opportunities to get back in
• I took the third trade with a break of the opening range looking for a test of the all time and momentum going into the close.
• After a failure to move away from .40 I decided to set the stop at 1 cent and got stopped before it sold off.
Trade Grade
Preparation 8 10 I have been scanning this since yesterdat
Hard Work 8 10 I took time to set up all of the three attempts to take this long.
Patience 8 10 As demanded yes

Plan 7 10 Yes..
Discipline 5 10 My stop move and the fumble on taking the partial on a trade were not well executed
Contribution NA 10