JWN Trade on Nov 22, 2019 14:06 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

Leading notes
I trade this pretty well today with a total of 8 groupings of trades. 2.1 net on the day

JWN
Intraday Fundamentals
• Nordstrom crushed earnings expectations in its third quarter, sending the stock up about 10% after the market closed Thursday.
• The retailer reported earnings of 81 cents a share, well above the Wall Street consensus of 62 cents a share. Revenue of $3.67 billion slightly edged out similar estimates. A same-store sales decline of 1.3% was in line with estimates, according to FactSet.
• “Our third quarter earnings exceeded expectations, demonstrating substantial progress in the delivery of our strategy and strength of our operating discipline,” Co-President Erik Nordstrom said in the earnings release. “Through our customer focus, we drove broad-based improvement in top-line trends. The consistent strength of our inventory and expense execution contributed to increased profitability for the quarter.”
• The company also opened a flagship store in New York City last month, which Erik Nordstrom said is “significantly increasing our presence in the world’s top retail market.
• “It’s a culmination of efforts across many teams, and we are grateful for their dedication and passion in bringing this store to life,” he added.
• The company’s stock got some much-needed relief in aftermarket trading Thursday. Nordstrom stock (ticker: JWN) shot up 10.2% to $37.83 , after closing the regular trading day at $34.32 , up 1.1%. The S&P 500 closed down 0.2%.
• Barron’s called the stock a bargain in May when it was trading around the $37 mark. We called Nordstrom the best- positioned retailer in the department-store segment, noting its mix of full-price and discount stores, its online presence, and its reputation, which set it apart from the pack.
Technicals
ADV 4.18m RVOL 1.96 ATR 1.45 BETA .72 Short 29.94% Inst Own 68.90%
Daily

Hourly

Intraday

Trading Strategy
• Short bias due to recent run up
• Look for this to come back into 36 by the end of the day
• A possible scalp long at 37 up to 38 in the opening
• VWAP Test and SMA momentum plays

Reading the Tape
I did a little better job of getting in on the right side of the spread. This would thing would wind up and dropped in an instance. But, I would never some large order getting filled during. I was on the wrong side of this counter trending this morning but it was not obvious like it is a lot of the times. I may not have been seeing the prints or seeing those and not the depth. I am not real sure. Most entries were taken at a time where I could hold three to four cents.
Trade Management

Total gain/loss: $13.10 Largest gain: $7.39 (show)

Average daily gain/loss: $13.10 Largest loss: $-3.53 (show)

Average daily volume: 4940 Average per-share gain/loss: $0.01
Average winning trade: $1.88 Average trade gain/loss: $0.82
Average losing trade: $-2.35 Trade P&L standard deviation: $2.72
Total number of trades: 16 Profit factor: 2.39
Number of winning trades: 12 (75.0%) Average hold time (winning trades): 20 minutes
Number of losing trades: 4 (25.0%) Average hold time (losing trades): 9 minutes
Max consecutive wins: 6 (show)
Max consecutive losses: 1 (show)

Average position MFE: $2.60 Average position MAE: $-1.78
Review
• I was on the wrong side of this in morning. My bias was short due to the run up yesterday.
• I added to a trade trying to play short to 36.40 or lower and added just enough to get out with a win.
• I cut myself short quite a few times. I also nailed a couple of quick pops that resulted in 7 to 1 or better.
• There were some bigger runs than that. I need to be able to work those out. Mostly I think by sticking with the original risk when the chats seems favorable to a continue run. I may be able to solve some of this when I can take more partials and still be effective on continuation.
• I can always get back in.

image


Execution detail:

Date/time Symbol Side Price Position
2019-11-22 14:06:19 JWN buy $37.603 long
2019-11-22 14:06:22 JWN sell $37.654 0
2019-11-22 14:13:51 JWN buy $37.796 long
2019-11-22 14:13:58 JWN sell $37.835 long
2019-11-22 14:14:06 JWN sell $37.803 0


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