CVS Trade on Nov 6, 2019 10:25 from Cklamb: Tradervue User Stock Trades.

CVS
Intraday Fundamentals
• Shares of CVS Health Corp. (CVS) jumped 3.8% in premarket trading Wednesday, after the drugstore and health services company reported third-quarter earnings that beat expectations and raised its full-year outlook. Net income rose to $ 1.53 billion , or $1.17 a share, from $1.39 billion , or $1.36 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS came to $1.84 , above the FactSet consensus of $1.77 . Total revenue grew to $64.81 billion from $ 47.49 billion , boosted by the acquisition of Aetna, to beat the FactSet consensus of $62.99 billion , as the pharmacy and retail businesses topped expectations while health care was in line. Same-store sales rose 3.6% to top the FactSet consensus of 3.1% growth, as better-than-expected pharmacy sales offset a miss in front-end store sales. The company raised its adjusted EPS guidance range to $6.97 to $7.05 from $6.89 to $7.00 . The stock has run up 24.5% over the past three months through Tuesday, while the S&P 500 has gained 6.7%.
Technicals
ADV 7.52 RVOL 2.09 ATR 1.31 BETA .84 Short 1.68% Inst Own 79.70%
Daily

Hourly

Intraday

Trading Strategy
• Long bias
• Hold for some kind of pull in to 68.70
• If it does base above 69, build through some scalps and see if you can get into a trend
• Vwap/sma Momentum trades
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Reading the Tape

All day, at points I am trading off what I see on the tape. For most of the afternoon, you could sellers push this down and the buyers rally especially around .59 and .60
Trade Management

Review
• I am having fun with this style of trading. I might be a hack. But, I am pretty sure I can grow this as the tape reading and execution skills continue to improve.
• I had the right trade on this. That could have given me something to work around most of the morning. I probably should have been bigger and think that yesterday’s opening trade was haunting me.
• There are plenty of mistakes here
o The countering at the end of day when the SMA was sloping like it did was foolish.
o I need to stay smaller longer into the morning session
o Shorting at 70 was not really on plan, when your bias was right
o I missed trying fo rth obvious longs at 70.30 and VWAP
• There were plenty of well executed scalps
• Risk management was stellar today!!