JNJ Trade on Mar 30, 2020 14:50 from Cklamb: Tradervue User Stock Trades.

It was the two small failed shorts looking for 132. I hit in high and added at Just below my SMA as I felt 132 was holding because of my last series of trades. There was some good self talk here as this took me red on the day almost immediately. TI was nice to have a little conviction and follow through with a little size. One day, I will have the patience to stick to the initial game plan and be less of micro scalper.

JNJ
Total gain/loss: $30.55 Largest gain: $36.51 (show)

Average daily gain/loss: $30.55 Largest loss: $-9.49 (show)

Average daily volume: 600 Average per-share gain/loss: $0.10
Average winning trade: $14.25 Average trade gain/loss: $5.09
Average losing trade: $-4.07 Trade P&L standard deviation: $16.15
Total number of trades: 6 Profit factor: 3.50
Number of winning trades: 3 (50.0%) Average hold time (winning trades): 5 minutes
Number of losing trades: 3 (50.0%) Average hold time (losing trades): 15 minutes
Max consecutive wins: 2 (show)
Max consecutive losses: 2 (show)

Average position MFE: $9.26 Average position MAE: $-7.12

Intraday Fundamentals
• Johnson & Johnson said Monday that it has made progress on a vaccine to prevent Covid-19 and the product could be ready in early 2021.
• The New Brunswick, N.J. -based company selected a lead candidate for the vaccine from the constructs it had been working on, and said human trials will begin by September at the latest. It said it could get approval under an emergency-use authorization to make the vaccine widely available early next year.
• Johnson & Johnson said it would try to scale its global manufacturing capabilities to make more than 1 billion of a Covid-19 vaccine. It said it is also working with the Department of Health and Human Services to expand its research into a treatment for Covid-19.
Technicals
ADV 10.06 m RVOL 1.21 ATR 7.42 BETA .72 Short .77% Inst Own 71%
Daily

Hourly

Intra

Trading Strategy
• Long @ 127 if it bases some where near the
• Long if it flushes to 126 for a run back to 127, and then look for the short off 127
Reading the Tape
I was reading this okay. But, it was just more the momentum and color of the time and sales as opposed to seeing anything large or unusual.
Trade Management

Trade Notes
• This was a resistance 2 play from the morning game plan. I have a lot of luck with both R2 and S2. I just seem to miss on the secondary screen. Or, I will find to uncomfortable to take a position when the price comes into the level and I am planning on going the other way. I need to playbook these trades every time.
• I was playing for this to more or less hold VWAP after being strong all morning. It was starting to rebound off 131. After a significant pull back from a later day pull back and the first test of VWAP since the opening. I actually hit this first trade that was at one point a 3 to 1 winner. But I decided to let it play out think 131 would easily hold. THe second attempt was more a revenge, fomo setup.
• I was looking for 132 to resist again late in the day even though it had been broken strongly earlier in the day. I may have been more hopeful here than tactical.
• It was the two small failed shorts looking for 132. I hit in high and added at Just below my SMA as I felt 132 was holding because of my last series of trades. There was some good self talk here as this took me red on the day almost immediately. TI was nice to have a little conviction and follow through with a little size. One day, I will have the patience to stick to the initial game plan and be less of micro scalper.