CVS Trade on Nov 15, 2019 10:05 from kerobo0000: Tradervue User Stock Trades.

Daily Report Card: C
-morning prep: D
-market prep: B
-stock prep: A
-level of focus: B

Rationale:
-reported earnings on 11/6; beat expectations on earnings, revenue and SSS
-raised full year 2019 EPS and operating income outlook
-CVS closed at the highs on Day 1
-there wasn't really a high volume area on Day 1 and stock has been trading above the Day 1 range
-highlighted two daily levels to risk off for continued upside 71.84, 72.93

Trade Strategy:
-enter on a pull back to 72.93 or hold of 73 level

How much risk should/did I take?
-$160; 1% of NLV
-not enough risk taken on this trade (took more risk on NFLX and ROKU, while this was a better trade set up)

Recap / Trade Management:
-CVS was trading at 73.05 when I switched my attention over to the name
-noticed some supply as it traded up to 73.09 (sellers joining the offer), but price never got below 73 when it pulled back
-bids stacked at 73.03/73.04 before stepping higher and sideways consolidation continued for a couple mins
-entered 2 lots when I noticed price wouldn't fall lower than 73/73.03, with a stop at 72.98 (intraday low / low of sideways range)
-exited as price made a lower low after being rejected from 73.40 area
-CVS went on to break above the 73.40 resistance level and trend into the close (trend began at 2p)
-XLV gapped up to new 6month highs and trended higher intraday, but I did not notice this in real time (may gave me confidence to add more size, or look for continued upside in CVS in the afternooon session)
-SPY, XLV & CVS gapped up to 6 month highs on the open today

What did I do well?
-enter very close to 72.93 level of interest as price held sideways above level
-bought an ITM call as I knew the stock may not move and wanted to increase upside for every .01 move

How could I have traded this better?
-didn't enter a big enough position; on good entries on sideways consolidation where risk is tight and can see some support on the tape, need to be in $1k positions min or 5 lots if options are expensive
-scaling it out into the first area of chart resistance (VWAP or preferably the 73.40/44 high that CVS was rejected from twice before I entered this position

What did the tape look like during the most important moments intraday?
-as price traded sideways, buyers always stacked up at 73.03/73.04; almost as if they did not want price to get below those levels
-73.03/73.04 was tested several times and presented an opportunity to get bigger so long as the bids held

Where could I have been responsibly bigger?
-on my initial entry, tight sideways consolidation above level of interest, plus stacked bids every time price came down to 73.03 / 73.04

Gain/loss relative to expected gain/loss:
- +$14 / +8%; gain in line given the move CVS made during this trade