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Shared by
Cklamb

 

WBA

Apr 2, 2020 11:26


Shares traded: 200
Closed Gross P&L: $20.84

Tags:

Short Momentum Intrday support play

I had solid size on here and it was nice it hit the momentum as it gave me time to make the decision as it stopped for a some time at 40.50.


WBA
Total gain/loss: $37.49 Largest gain: $20.84 (show)

Average daily gain/loss: $37.49 Largest loss: $-15.85 (show)

Average daily volume: 1220 Average per-share gain/loss: $0.06
Average winning trade: $10.67 Average trade gain/loss: $6.25
Average losing trade: $-15.85 Trade P&L standard deviation: $13.58
Total number of trades: 6 Profit factor: 3.37
Number of winning trades: 5 (83.3%) Average hold time (winning trades): 20 minutes
Number of losing trades: 1 (16.7%) Average hold time (losing trades): 3 minutes
Max consecutive wins: 3 (show)
Max consecutive losses: 1 (show)

Average position MFE: $13.38 Average position MAE: $-5.49

Intraday Fundamentals
• Walgreens Boots Alliance Inc. said Thursday it is wrestling to figure out what the coronavirus will mean for its business.
• "Given the many rapidly changing variables related to the pandemic, at this time [the company] is not in a position to accurately forecast the future impacts," Walgreens said Thursday in release results for its latest quarter.
• The drugstore operator reported stronger-than-forecast sales for its latest quarter, which ended Feb. 29 , as consumers were starting to stockpile supplies. The company generated $35.82 billion in sales for the period, up about 4% from the year earlier and more than the $35.27 billion in sales that analysts polled by FactSet predicted.
• Earnings dropped to $946 million , or $1.07 a share, from $1.16 billion , or $1.24 a share, the year earlier. Gross profit fell amid rising expenses for its costs of goods.
• The company said it earned an adjusted profit of $1.52 a share for the latest period, 6 cents more than forecasts.
• Walgreens has sought to navigate the coronavirus pandemic by offering more home delivery, working with Postmates to offer such services from 7,000 stores.
• The company has also narrowed operating hours for stores, saying last month that Walgreens locations open 24 hours would shift to a 9 a.m. to 9 p.m. local- time schedule in part to allow for more cleaning. It said last month it would begin to sell some nondrug items at drive-throughs.
• The company has said it would pay bonuses to full- and part-time hourly employees staffing its stores and distribution centers.
Technicals
ADV 7.25 RVOL .93 ATR 3.60 BETA .75 Short 2.79% Inst Own 61.1%
Daily

Hourly

Intra

Trading Strategy
• VWAP, SMA plays,
• Trend side
Reading the Tape
I cannot say that I used the tape a lot here.

Trade Management

Trade Notes
• I shorted this late into the second candle as it had broke 41 and started to stall at VWAP, I used 41 as place to short off of. It did move back above and hit anew morning high just at 41.23. But, it was a spike and came right back into 41 and then gave way. This allowed for a a one third partial that would have given 40 cents of risk. I was able to take another part off trailing a stop at 50% of the original size. I waited through the bounce and should have shorted again at 41. I waited for VWAP to give instead and then did not take a short again it broke 40. This was solid trade but I was still very late and needed to take this at the of 40.50 instead. I finished trying to get one more short set up off 40 and gave back a bit of change.
• I took a momentum long after my short moved back into 40 on some strong tape momentum. Because I had flipped the conviction was low and I tapped out as soon as the momentum started to stall.

• I had a short bias on this and expected this to fail at 40.50. I got aggressive and added in and it just kept getting stronger. Plus, I fooled myself thinking that it had finally stopped its move and tried again not long after the first failed. If I had a better bead on the tape today I am have been able to slow this decision down a bit.
• I had a short bias on this and expected this to fail at 40.50. I got aggressive and added in and it just kept getting stronger. Plus, I fooled myself thinking that it had finally stopped its move and tried again not long after the first failed. If I had a better bead on the tape today I am have been able to slow this decision down a bit.
• I had solid size on here and it was nice it hit the momentum as it gave me time to make the decision as it stopped for a some time at 40.50.
• A late day attempt on a momentum trade, vwap resistance trade. I did move my stop a bit early on this and got tapped on the remainder earlier than I should have.


Execution detail:

Date/time Symbol Qty Price Position
2020-04-02 11:26:16 WBA -100 $40.525 -100
2020-04-02 11:27:20 WBA 50 $40.297 -50
2020-04-02 11:27:27 WBA 30 $40.287 -20
2020-04-02 11:30:02 WBA 20 $40.410 0


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