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Shared by
Cklamb

 

LOW

Nov 20, 2019 09:31


Tags:

Long Momentum Support Play

I traded this well today. So, I am posting the review a little different. I am already worn out from reviewing the charts and executions. I wanted to post my notes up top on these.
Statistically speaking this was one of my best days. I am overtrading. There is no doubt. I am just not sure how much. It is hard to argue the consistency that I am building on since my platform has gone commission free and I can trade small and often.
The best part is I can do so much better!!
• I had a great bead on the tape and kept it in good context with the chart today
• I picked up on the downtrend early and traded that way until my break
• I developed some very specific things to work to help me with putting out more risk at the right times
• Most entries need to have a stop at the bottom of the entry candle. Anticipation trades need the tight risk of the tape
• I Let the stock tell me what to do today.
• I called quite a few break up points today

LOW
Intraday Fundamentals
• Lowe’s reported Wednesday quarterly earnings that beat analysts’ expectations and raised its forecast for the year. However, revenue during the quarter fell short of expectations.
• Shares of Lowe’s were up about 5% in premarket trading.

• Here’s what Lowe’s reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
• Earnings per share: $1.41, adjusted, vs. $1.35 expected
• Revenue: $17.39 billion vs. $17.68 billion expected
• Same-store sales growth: 2.2% vs. 3.1% expected
• Lowe’s now expects to earn between $5.63 and $5.70 per share, on an adjusted basis, compared with a prior estimate of $5.67 per share.
• In the third quarter ended Nov. 1, Lowe’s said net income grew to $1.05 billion, or $1.36 per share, from $629 million, or 78 cents per share, a year earlier. Excluding items, the company earned $1.41 per share, topping analysts’ estimates of $1.35 per share, according to a Refinitiv survey.
• Sales grew $17.39 billion, just shy of analysts estimates of $17.68 billion.
• Consolidated same-store sales grew 2.2%. Analysts were expecting a 3.1% gain. Sales at U.S. stores open at least 12 months rose 3.0%.
Technicals
ADV 4.06m RVOL 1.74 ATR 1.98 BETA 1.26 Short 1.26% Inst Own 79%
Daily

Hourly

Intraday

Trading Strategy
• Long bias medium term
• Look for a short at the open if this is still holding above 117
• Consider the long at 117 if it flushes to this at the open and start to pull small and quick on this play
• Look for any basing action above 116 and cisder playing for long back to 117 or 118
• VWAP Tests and SMA Momentum plays
Reading the Tape
I can say that the tape and the spread were very kind to me today. I cannot exactly explain it but when this was about to move the spread would tighten in the opposite direction of the trade. This would let me put on a trade and be risk free as soon as the spread widen again. You could see on the T&S who has currently in control at the time of entry almost every time.


Execution detail:

Date/time Symbol Side Price Position
2019-11-20 09:31:53 LOW buy $119.152 long
2019-11-20 09:32:07 LOW sell $119.375 0
2019-11-20 09:38:00 LOW buy $119.827 long
2019-11-20 09:38:04 LOW sell $119.982 0
2019-11-20 09:43:02 LOW buy $120.292 long
2019-11-20 09:43:06 LOW sell $120.330 long
2019-11-20 09:43:32 LOW sell $120.308 0
2019-11-20 09:44:38 LOW buy $120.654 long
2019-11-20 09:44:41 LOW sell $120.652 long
2019-11-20 09:44:46 LOW sell $120.665 0
2019-11-20 09:50:53 LOW buy $120.081 long
2019-11-20 09:51:07 LOW sell $119.932 0
2019-11-20 09:51:27 LOW buy $120.044 long
2019-11-20 09:51:33 LOW sell $119.970 0
2019-11-20 09:52:18 LOW buy $120.132 long
2019-11-20 09:52:34 LOW sell $120.240 0
2019-11-20 09:55:18 LOW buy $120.068 long
2019-11-20 09:55:22 LOW sell $120.004 0
2019-11-20 09:58:07 LOW buy $120.112 long
2019-11-20 09:58:24 LOW sell $119.992 0
2019-11-20 10:00:09 LOW buy $119.905 long
2019-11-20 10:00:30 LOW buy $119.800 long
2019-11-20 10:00:42 LOW sell $119.890 0
2019-11-20 10:01:03 LOW buy $119.976 long
2019-11-20 10:01:30 LOW sell $120.051 0
2019-11-20 10:03:36 LOW buy $119.845 long
2019-11-20 10:03:49 LOW sell $119.730 0
2019-11-20 10:05:09 LOW buy $119.392 long
2019-11-20 10:05:13 LOW sell $119.565 long
2019-11-20 10:05:19 LOW sell $119.480 0
2019-11-20 10:07:17 LOW buy $119.550 long
2019-11-20 10:07:21 LOW sell $119.592 long
2019-11-20 10:07:30 LOW sell $119.542 0
2019-11-20 10:09:43 LOW buy $119.580 long
2019-11-20 10:09:48 LOW sell $119.605 long
2019-11-20 10:09:51 LOW sell $119.560 0
2019-11-20 10:11:19 LOW buy $119.400 long
2019-11-20 10:11:33 LOW sell $119.338 0
2019-11-20 10:15:10 LOW buy $119.008 long
2019-11-20 10:15:18 LOW sell $119.080 long
2019-11-20 10:15:31 LOW sell $119.070 0
2019-11-20 10:15:59 LOW buy $119.380 long
2019-11-20 10:16:05 LOW sell $119.358 0
2019-11-20 10:17:17 LOW buy $119.302 long
2019-11-20 10:18:05 LOW sell $119.352 0
2019-11-20 10:18:38 LOW buy $119.708 long
2019-11-20 10:18:46 LOW sell $119.745 0
2019-11-20 10:24:16 LOW buy $120.150 long
2019-11-20 10:24:24 LOW sell $120.195 long
2019-11-20 10:24:37 LOW sell $120.170 0
2019-11-20 10:40:13 LOW buy $119.150 long
2019-11-20 10:40:35 LOW sell $119.278 0
2019-11-20 10:49:13 LOW buy $119.140 long
2019-11-20 10:49:18 LOW sell $119.162 0
2019-11-20 10:54:22 LOW buy $119.250 long
2019-11-20 10:54:25 LOW sell $119.253 0


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