Big Picture
- SPY holding above 294
- China wants another round of trade talk’s before signing deal
- Tariffs will increase if deal isn’t signed
- 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 extending its overnight funding Ops (QE) through January 2020
- Only two companies missed estimates so far this earnings season
Markets Intraday
- PM: SPY Consolidated between 296.60 and 297.10
- Morning: SPY trended up to 299.60
- Afternoon: SPY consolidated in 299s
- End of Day: SPY selling back below 299
Technical Analysis – Long Term
- LT Uptrend
- Sold off hard from 170 on competition news
Technical Analysis – Intraday
- Consolidating higher the last few days
- Gapped up $4 on new catalyst news
Catalysts / News
- Macquarie upgraded PT to $130 / outperform, says user base could triple by 2021
- RBC Capital upgrades PT to $155 / outperform
- October 15th: Apple TV App now available on ROKU devices
Original Plan
PM PA bullish on Apple TV app news
Long if holding above 124, target 129 (60%)
Could see bounce from 122.70 or 121.50 (40%)
Execution Notes
Tried to long at 124.83 wit 1 lot and a 2R stop at 124.43 but I got stopped out almost immediately. 20 minutes before the close I noticed ROKU was consolidating and I decided to long it with a stop below the consolidation, got long 1 lot at 131.43 with a 1R stop at 131.23. I sold half at 131.61 as it was having a hard time retracing. I held onto my other half until it broke above the consolidation range then I sold it at 132.40.
Review
This trade was very frustrating as I had to watch it trade higher all day but I didn’t get back in! Trying this trade again early on would have made my day. I was able to muster the strength and try the trade again 20 minutes before the close and I was able to cover some of my risk on ROKU and turned it into a scratch trade.
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 |
---|---|---|---|---|
2019-10-15 09:50:31 | ROKU | buy | $124.830 | long |
2019-10-15 09:50:54 | ROKU | sell | $124.450 | 0 |
2019-10-15 15:41:30 | ROKU | buy | $131.430 | long |
2019-10-15 15:44:46 | ROKU | sell | $131.610 | long |
2019-10-15 15:49:32 | ROKU | sell | $132.400 | 0 |
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