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Oct 9, 2019 11:58


SIM Second Day Play

Big Picture
- SPY back in August 282-294
- China in US this week to discuss trade deal, reports that China want partial 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)
- Fed announced further expansion of balance sheet “soon” in an October 8th meeting

Markets Intraday
- PM: SPY consolidation between 290.50 and 291.50
- Morning: SPY consolidation, tested 290 twice
- Afternoon: Uptrend to 292
- End of Day: Selling to 291 on news that China has low expectations of trade talks

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
- Day2: gapped up another 20 cents and was bought all day
- Day3: Gapped down 40 cents, held up all morning but sold hard all afternoon back below $13
- Today: Continued downtrend but buyers stepped in at 12.60 and supported the stock all afternoon

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 price were to test 12.75 level from yesterday where it had a big bounce or long on a pullback within continue uptrend.

Execution Notes
Got filled at 12.73 for 2 lots with a 1R stop at 12.63. Got stopped out 5 minutes later.

I liked how I tried the trade where it had a huge bounce yesterday but unfortunately I got stopped out and the stock really didn’t move that much after that.

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

Execution detail:

Date/time Symbol Side Price Position
2019-10-09 11:58:02 AVYA buy $12.740 long
2019-10-09 12:03:13 AVYA sell $12.620 0

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