JNJ Trade on Apr 1, 2020 11:59 from Cklamb: Tradervue User Stock Trades.

I came out of this okay. I was following flow on the tape and almost got myself in trouble a couple of times entering to late. Because, I felt like I was hacking this and should take a break, when it decided it was ready to test VWAP with some help of the overall market.

JNJ
Total gain/loss: $13.69 Largest gain: $11.83 (show)

Average daily gain/loss: $13.69 Largest loss: $-8.98 (show)

Average daily volume: 1460 Average per-share gain/loss: $0.02
Average winning trade: $5.67 Average trade gain/loss: $2.74
Average losing trade: $-8.98 Trade P&L standard deviation: $8.01
Total number of trades: 5 Profit factor: 2.52
Number of winning trades: 4 (80.0%) Average hold time (winning trades): 8 minutes
Number of losing trades: 1 (20.0%) Average hold time (losing trades): 2 minutes
Max consecutive wins: 2 (show)
Max consecutive losses: 1 (show)

Average position MFE: $5.36 Average position MAE: $-4.14

Intraday Fundamentals
• This is closing the gap that was created on the news that it has a covid vaccine in the initial stages
• This may have some benefit of quarter end window dressing

Technicals
ADV 10.54 m RVOL 1.51 ATR 7.69 BETA .72 Short .77% Inst Own 70.9%
Daily
Hourly

Intra

Trading Strategy
• Support 128, 127 126 and 124
• Resistance 130 132, 134
• If this cannot hold 128 our of the open look to short into 126
• If this flushes at the open, look for the bounce play off 127 for a scalp
• If this holds 128 with some strength look for a long to 130ish
Reading the Tape
I really did not have a bead on this other than some general momentum of the action on the time and sales.
Trade Management

Trade Note
• I wanted to trade this out of the gate and had a long planned at 126. the few opening minutes kept me trading something with a tighter spread. I did watch this through out the open though. I had also planned to see if 128 would hold. As it did and this came into test VWAP. This was solid scalp that I tapped out at the first hint of failure afraid of the volatility.
• I came out of this okay. I was following flow on the tape and almost got myself in trouble a couple of times entering to late. Because, I felt like I was hacking this and should take a break, when it decided it was ready to test VWAP with some help of the overall market.
• I was waiting for a pullback for a long time and then finally gave into the FOMO.
• I always hesitate when trading big at the close. SO, I am bummed that I was small. But, I still was late and the size helped me wait for this to get a good RVR even with as volatile as it was.