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Nov 12, 2019 15:42

Shares traded: 400
Closed Gross P&L: $-2.57


Momentum Short

Intraday Fundamentals
• 07:02 AM EST, 11/12/2019 (MT Newswires) -- DR Horton (DHI), a homebuilding company, on Tuesday reported fiscal Q4 earnings of $1.35 per share, up from $1.22 in the same period a year ago and topping the estimate of $1.25 from analysts polled by Capital IQ.
• For the quarter ended Sept. 30, total revenue rose to $5.04 billion from $4.51 billion in the same period a year ago and exceeded the Street projection of $4.86 billion.
• The company guided full-year 2020 revenue in the range of $18.50 billion to $19 billion, straddling the Street projection of $18.56 billion.
• DR Horton increased its quarterly cash dividend to $0.175 per share from $0.15 in the prior quarter. The dividend is payable Dec. 11 to shareholders as of Nov. 27.
ADV 4.24 m RVOL 1.02 ATR 1.22 BETA .98 Short 3% Inst Own.



Trading Strategy
• Long bias on this one
• Look for a gap close or down to 53, and see if I would be a long
• If it wicks to 52.80 at the opening get long light quickly and look for the opening print for a scalp
• Breakout trade is possible if the breaks 54.50

Reading the Tape
I am setting most trades on the tape. Nowadays. I am looking for groups to bidders or sellers to play off of each time.
Trade Management

• I worked good levels.
• I was 15 cents of the LoD with a long, there was a home run there
• I started pushing shorts at the end of the day, But, this only gave a few signs that it might break down and I did not see it breaking much over 54.40. Patience would have been better that gunning at a the shorts
• There is still a lot of work to get system dialed in but. The trade entering is controlling risk well.
• Another good day at reading the tape. My skills are improving quickly in this style of trading.

Execution detail:

Date/time Symbol Qty Price Position
2019-11-12 15:42:05 DHI -50 $54.215 -50
2019-11-12 15:42:24 DHI 50 $54.235 0
2019-11-12 15:43:47 DHI -1 $54.200 -1
2019-11-12 15:43:47 DHI -49 $54.205 -50
2019-11-12 15:44:05 DHI 25 $54.185 -25
2019-11-12 15:44:22 DHI 25 $54.210 0
2019-11-12 15:44:45 DHI -100 $54.195 -100
2019-11-12 15:45:02 DHI 100 $54.215 0

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