ROKU Trade on Oct 7, 2019 10:12 from J_Matrix: Tradervue User Stock Trades.

Big Picture:
- Stock market trades slightly lower on no specific catalyst
- China reportedly not interested in a broad trade deal, not committed on reforming industrial policy or government subsidies -- Bloomberg
- Relative strength in energy stocks amid higher oil prices

Intraday Fundamentals:
-$ROKU announces launch of onn soundbar and subwoofer, exclusive to Walmart.
-$ROKU makes most of their money from subscriptions and ads. This catalyst while looks significant as a headline, it's more relevant with Walmart rather than Roku.
-Elevated RVOL when news hit the tape at 9am
-ATR 8.35

Technical Analysis:
-Inflection 108
-Resistance 109-109.25/110.25/111.75
-Support 105/103.62/102
-YCL 106.77

Thesis:
-Recognizing that the news is fluffy and buyers capitulate at 956/957am at the price of $108, I started to look for opportunities to get short. Target 105
-Because of the morning buying and the capitulation of 108, the longs are trapped from that price point so essentially I could short every SIGNIFICANT POP to that price until proven wrong.

Trade Mangagement:
-I was paying heavy attention to yesterday's closing price 106.77 and as soon as it snapped, I got in on the breakdown with starter size.
-Selling momo slowed down and the selling pattern on the tape changed at 106, price starter to hold 106 so I got flat on my position to re-assess booking in 50c of profit.
-From 1058am the retracement momo slowed down and set a high at 107.25. Price couldn't trade above 107 so I got short 2 tiers risk 107 1st stop and 107.25 2nd stop. 11:20am
-Covered 1/2 at 1124am as we came close to the prior support at 106 and selling momo slowed down.
-Covered another 1/2 at 105.23 as we retraced back up to morning lows from 1015am
-Flat as the tape had a big change in direction after hitting 104.70.

Remarks:
-I felt like I flatten out a tad too late as I gave back 70c of profits from the lows. The 1210pm candle was a big signal for a sign of reversal.