XOM Trade on Apr 3, 2020 09:34 from Cklamb: Tradervue User Stock Trades.

I hit this at the opening as it was described in the am game plan. The first trade was all I needed and I had the set up to follow through with it. The second time pulling the same short just a little under 42 using 42 as the stop would have been a home run if I could have held my breathe through the turn.

XOM
Total gain/loss: $29.50 Largest gain: $18.62 (show)

Average daily gain/loss: $29.50 Largest loss: $-5.00 (show)

Average daily volume: 4800 Average per-share gain/loss: $0.01
Average winning trade: $7.61 Average trade gain/loss: $3.69
Average losing trade: $-2.85 Trade P&L standard deviation: $8.07
Total number of trades: 8 Profit factor: 4.45
Number of winning trades: 5 (62.5%) Average hold time (winning trades): 21 minutes
Number of losing trades: 3 (37.5%) Average hold time (losing trades): 8 minutes
Max consecutive wins: 3 (show)
Max consecutive losses: 2 (show)

Average position MFE: $8.52 Average position MAE: $-8.05

Intraday Fundamentals
• Rumor long, OPEC meeting on Monday market is expecting them to discuss production cuts
• OIL futures up on news of OPEC meeting
• US cut production yesterday
Technicals
ADV 33.27 RVOL 1.9 ATR 3.32 BETA 1.26 Short 1% Inst Own 57.4%
Daily

Hourly

Intra

Trading Strategy
• This should have some resistance at 42 and 43.50
• Support at 40, 39 and 37
• Look to short this if is starts to fail at 42, if it breaks through wait and see if make the move to 43 short on weakness above that or at 43 smaller with the stop at .60
Reading the Tape

There were some times in this throughout the day that you could tell when the momentum had more or less run its course on the short term. There was a couple of times when you would see a big buyer come in around 38.75.

Trade Management

Trade Notes
• I hit this at the opening as it was described in the am game plan. The first trade was all I needed and I had the set up to follow through with it. The second time pulling the same short just a little under 42 using 42 as the stop would have been a home run if I could have held my breathe through the turn.
• I was looking for a bounce as the first hour had been all down. I looked at 40 for the bounce and then managed to catch some momentum on the long side off 39.50> I was late to the trade though and did not give it time to work.
• After trying to flipped the last long, I walked away for a bit. I came back to see this spike into 40.20. I saw it show weakness again as it traded around 40.20 again and entered with some conviction for a solid quick win that I could have let run a bit further.
• This gave similar action to what I had saw at 40.20. However, I felt that I had showed enough strength at 39 and the time of the day would allow this to make a move back towards 40 and possibly VWAP. I took the first trade and got a couple decent partial only to let the remainder tap out most of my risk. It is when I tried it again that I had to tap out just before the break down.
• Another home run trade, and I was unable to hold it. Although, the plan at the time was take a few cents on the momentum and gain some risk for a later setup.
• I was playing for 39 to hold, But, honestly I was late to the trade trying to wait for confirmation of a trend change.
• UGH!!! this was there and I was to big to trade it right!!!