Total gain/loss: $84.04 Largest gain: $20.28 (show)
Average daily gain/loss: $84.04 Largest loss: $-24.95 (show)
Average daily volume: 21930 Average per-share gain/loss: $0.01
Average winning trade: $8.61 Average trade gain/loss: $4.20
Average losing trade: $-13.41 Trade P&L standard deviation: $12.03
Total number of trades: 20 Profit factor: 2.57
Number of winning trades: 16 (80.0%) Average hold time (winning trades): 17 minutes
Number of losing trades: 4 (20.0%) Average hold time (losing trades): 7 minutes
Max consecutive wins: 7 (show)
Max consecutive losses: 1 (show)
Average position MFE: $10.25 Average position MAE: $-13.20
• Abating fears in the coronavirus
• Second day play.. bounce play strong market
ADV 11.54m RVOL 2 ATR 1.21 BETA 1.45 Short 3.6% Inst Own 49.6%
• Long bias on this
• Consider an opening drive on a small lot if the chart stay trending into the open, shorter time frame as usual. Clear at 39..
• If breaks and holds 39 early wait for the retest and try to take it long into 39.50
Reading the Tape
There were many times that the tape helped here.
• I started of trying to long this on what seemed to be strong momentum in PM. I thought I would try for an opening drive. I took small as always and started to add small but bailed with a loss. I followed with 2 quick small losses looking for 38.20 to hold. I attempted to get a hold at 38 that started to drop full size. I added to this twice as it slid and twice as it started to hold 37.70 grabbing a the last of the four adds at the average price. I cleared most out in the mid.90s and the rest just above 38.00. I had to do something similar as I started to play for the break above 38.80 added small bits as it came back and held 38.30 allowing to flatten at 38.40.
• I flipped to a short here as the last attempt to hold VWAP failed. I was too large for a set up like this. I did turn back to the long as VWAP started to hold. I got a head fake small win. Then I took some long at 38.30 with some good partials I got the run up 38.77
• I did start to try to play the break out above 39.0 without much luck. I did have a short off 39 that scored nice. But, could have been manage much better.
• VWAP HOLD and VWAP break plays. The hold was much more solid in the approach and the exit and the break more a short off .65 on some momentum with a good partial and a tight spot based on some tape action. I managed to hack up the spike looking for it to extend above 38.77
• I did play the short off 38.57 or VWAP at that time with 38.40 as a target trying to hold in case it continued a breakdown. When it tapped I took it long looking for the break above with another small win until getting tapped out the remainder at 38.55. Then I hacked it up looking for the short off the rejection off VWAP again.
• I was profitable longing this from 38.60. But, a little more patience on the initial trade would have added about 10 cents to the run.
• I started trading apprehensively and a little larger than I should have throughout the rest. This stock being so tight on the spread and in a small range though made it good practice for adjusting to larger tiers. But, I give more back than I gained.
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