AVYA Trade on Oct 7, 2019 10:42 from beno: Tradervue User Stock Trades.

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beno

 

Big Picture
- SPY back in August 282-294 range but spent all afternoon between 294-295
- China in US this week to discuss trade deal
- Fed easing and possibly continuing with new QE program (called Open market operations)
- Formal inquiry launched for Trump impeachment (Cover-up, secret server, abuse of power)
- US released tentative plan to limit investment in China (most likely for more sway in trade talks)

Markets Intraday
- PM: SPY retest and failure of 294
- Morning: SPY early power down then reversal and broke above 294
- Afternoon: SPY retest of 294 and a high of 295.20
- End of Day: SPY sold back below 294

Technical Analysis – Long Term
- Downtrend since $23.50 high in 2018
- Last weekly swing respected 200-day SMA, trading below it

Technical Analysis – Intraday
- Gapped up on catalyst news
- Day1: traded and held higher all day
- Today: gapped up another 20 cents and was bought all day

Catalysts / News
- Large contract with RNG
- Buying back 45% of its shares!
- Partnering with Microsoft to launch their CCaaS IX-CC platform in Azure Cloud

Original Plan
Long if prior days high is retest or get in on a pullback if price is bullish all day.

Execution Notes
The stock tested 14 twice and failed, the second time peaking slightly higher than the first. I got in on the 3rd pullback for 1 lot at 13.73 with a 1R stop at 13.58. Sold a half lot just under $14. I sold my last half lot at 14.19 as many sellers were stepping in at 14.20. I will look for a spot to re-add on the next pullback.

Review
Positives: I liked how I got involved at support levels formed today and how I patiently waited for the next leg up.
Negatives: I got flat before my target of 14.50 was hit and I missed an opportunity to jump back in when the stock retested VWAP at 13.88.

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: sold before target
What justified the modifications?: big volume on tape at 14.20
Did you hold a core position until you noticed a reason to sell?: no
Were your executions goods? yes

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


Execution detail:

Date/time Symbol Side Price Position
2019-10-07 10:42:30 AVYA buy $13.730 long
2019-10-07 11:54:58 AVYA sell $13.990 long
2019-10-07 12:51:47 AVYA sell $14.190 0


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