WEN Trade on Oct 15, 2019 10:08 from beno: Tradervue User Stock Trades.

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
- Currently above 200-day SMA

Technical Analysis – Intraday
- Day1: Wild gyrations all morning, grindy uptrend in the afternoon
- Day1: Closed green but closed below open print
- Day2: Strong OD but sold off to 20.80 then trended higher all afternoon
- Today: Morning OD to 21.30 then massive failure and traded below VWAP all day

Catalysts / News
- Wendy's expanding to Europe
- Same store sales rose 4.4% in Q3
- Executives maintain that breakfast should be immediately profitable for franchisees

Original Plan
Hold above 21.05 is bullish, long.
Break and hold above 21.20 is bullish, long.
Could retest 20.90 from yesterday, long.

Execution Notes
Tried to long at 21.10 (yesterday’s morning high) but the pullback was too steep and continued after I entered. Got filled for 2 lots at 21.11 but got stopped out (for 1R) at 21.02.

Review
I shouldn’t have longed it after seeing that steep pullback (strong stocks have shallow pullbacks!).

Grade Questions

Did I follow my plan? (yes/no/with mods): with mods
Which modifications?: Longed at 21.10 instead
What justified the modifications?: Price traded to this area
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes

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