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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