Shared by
Cklamb
JNJ
Intraday Fundamentals
• Second Day Play
• JNJ announced that two third party labs did not find asbestos in the baby powder
• Solid earnings the week prior
Technicals
ADV 7.78 RVOL .44 ATR 2.58 BETA .69 Short .63% Inst Own. 70%
Yesterday’s Trade Management
Reading the Tape
132.14 was holding I entered looking for this to extend higher. The tape started getting weak just above .25 but it looked as if it would hold. When it gave I moved the stop on the remainder to .17.
Trade Management
Review
• This attempt was managed well.
• I was a little as I was watching this before the break above 132. I had stepped away and missed that momentum
• The consolidation led me to believe that there was still more upside.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-10-31 13:56:59 | JNJ | buy | $132.135 | long |
| 2019-10-31 13:58:03 | JNJ | sell | $132.170 | long |
| 2019-10-31 14:00:08 | JNJ | sell | $132.165 | 0 |
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