Gravatar

Shared by
Cklamb

 

MCD

Nov 5, 2019 14:26


Shares traded: 700
Closed Gross P&L: $-5.46

Tags:

Resistance play Short

MCD
Intraday Fundamentals
• Removed CEO David Faihurst replaced by Chris Kempczinski
• Chris has been a part of the current strategies and should be able to maintain MCD initiatives
• Has been selling off since earnings last week on the first slide in EPS in over 8 quarters
Technicals
ADV 3.76 M RVOL 4.95 BETA .48 ATR 3.57 Short .87% Inst Own 70.5%
Daily

Hourly

Intraday

Trading Strategy
• Long bias
• Swing a long if this can pull back to 184.50
• Follow premarket action, it flushed to 188.70 to 189 take small long for a scalp up 189.50 and try to keep a small portion to hold if it starts to trade above this level for a period of time. If it does not hold the level. Use the remainder to fill out another long on the next higher low
• If this flushes to 187.50 take a bigger long looking for 188.50, close out and consider to long again if it breaks this level, hold and starts moving back towards 189.

Reading the Tape
I had some sense of momentum on most of these trades. I found a couple place around .55 and .47 that you could see some indifference in the tape. Pushes above and below these points were mostly short lived until the last 15 minutes.
The momentum was steady but not strong as this hit all of the last 3 or 4 HoDs other than the push past .71.
Trade Management

Trade Notes
• There was no reason to sell the opening long. I need to wait for a change in the tape
• I need to find ways to get a little bigger on trades with this type of push this early in the session.
• The short off 193 was going to work. But, the long on AMRN was a higher probability and I only work one stock at a time currently
• I need to playbook a clean late day short off the HoD


Execution detail:

Date/time Symbol Qty Price Position
2019-11-05 14:26:50 MCD -20 $192.670 -20
2019-11-05 14:28:56 MCD 20 $192.720 0
2019-11-05 14:46:11 MCD -20 $192.915 -20
2019-11-05 14:47:01 MCD 20 $192.970 0
2019-11-05 15:04:53 MCD -20 $192.440 -20
2019-11-05 15:06:00 MCD 20 $192.575 0
2019-11-05 15:07:48 MCD -20 $192.470 -20
2019-11-05 15:09:40 MCD -10 $192.414 -30
2019-11-05 15:10:30 MCD 30 $192.320 0
2019-11-05 15:31:22 MCD -20 $192.460 -20
2019-11-05 15:31:48 MCD 20 $192.514 0
2019-11-05 15:31:59 MCD -20 $192.450 -20
2019-11-05 15:32:07 MCD 20 $192.424 0
2019-11-05 15:32:38 MCD -20 $192.332 -20
2019-11-05 15:33:11 MCD 20 $192.400 0
2019-11-05 15:35:09 MCD -100 $192.430 -100
2019-11-05 15:35:14 MCD 50 $192.420 -50
2019-11-05 15:35:59 MCD 50 $192.475 0
2019-11-05 15:38:29 MCD -100 $192.486 -100
2019-11-05 15:38:40 MCD 100 $192.495 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in