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Nov 20, 2019 11:12


Momentum Short

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

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%.
ADV 4.06m RVOL 1.74 ATR 1.98 BETA 1.26 Short 1.26% Inst Own 79%



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 11:12:20 LOW sell $119.113 short
2019-11-20 11:12:40 LOW buy $119.027 0
2019-11-20 11:16:06 LOW sell $119.103 short
2019-11-20 11:16:15 LOW buy $119.087 0
2019-11-20 11:19:32 LOW sell $119.118 short
2019-11-20 11:19:37 LOW buy $119.082 0
2019-11-20 11:21:04 LOW sell $118.808 short
2019-11-20 11:21:08 LOW buy $118.717 0

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