BIG Trade on Apr 9, 2020 09:31 from Cklamb: Tradervue User Stock Trades.

I had a pretty strong short bias on this in the morning. I started looking to short at what seemed to be the premarket high and got a solid scalp trade. I would just chop myself up for the next hour trying to short this again every time it reached a level that I had marked out at 19.60 and VWAP, a failure at 20.20 and again hoping .50 would fail. I would get a little frustrated and get to big trying to make it back one fail swoop. I was selling the bottom of the momentum every it seemed. I pushed to hard after it showed that it was going to hold 20 for a while. I really just need to stay smaller while I was working this. All and all I was wrong on what I though would happen. I was not open ided enough about how this would work in the morning. I was wrong that this would stay above the PM High.

BIG
Total gain/loss: $-49.58 Largest gain: $7.98 (show)

Average daily gain/loss: $-49.58 Largest loss: $-55.12 (show)

Average daily volume: 2000 Average per-share gain/loss: $-0.05
Average winning trade: $5.11 Average trade gain/loss: $-9.92
Average losing trade: $-32.46 Trade P&L standard deviation: $26.26
Total number of trades: 5 Profit factor: 0.24
Number of winning trades: 3 (60.0%) Average hold time (winning trades): 3 minutes
Number of losing trades: 2 (40.0%) Average hold time (losing trades): 34 minutes
Max consecutive wins: 3 (show)
Max consecutive losses: 2 (show)

Average position MFE: $5.26 Average position MAE: $-15.62

Intraday Fundamentals
• 06:57 AM EDT, 04/09/2020 (MT Newswires) -- Big Lots (BIG) said Wednesday it has entered into sale-and-leaseback deals with Oak Street Real Estate Capital, LLC for its distribution centers in Columbus, Ohio, Durant, Okla., Montgomery, Ala., and Tremont, Pa. for gross proceeds of $725 million.
• The retailer intends to use the net proceeds of $550 million for debt repayments and to boost its liquidity position, as well as other corporate purposes.
• Shares were 15.7% higher pre-bell.
• JP Morgan analyst Matthew Boss upgrades Big Lots (NYSE:BIG) from Underweight to Neutral and raises the price target from $14 to $21.
•
Technicals
ADV 1.83 RVOL .93 ATR 1.84 BETA 1.65 Short 17% Inst Own
Daily

Hourly

Intra

Trading Strategy
• Short 18.50 when it starts to show weakness
• Long 17 if it can base at that level depending on the time of day or if it wicks to it in the am
Reading the Tape
I was not this tape, I was seeing things that I wanted to see. I fooled myself a few times on this and ignored what I needed to see.
Trade Management

Trade Notes
• I had a pretty strong short bias on this in the morning. I started looking to short at what seemed to be the premarket high and got a solid scalp trade. I would just chop myself up for the next hour trying to short this again every time it reached a level that I had marked out at 19.60 and VWAP, a failure at 20.20 and again hoping .50 would fail. I would get a little frustrated and get to big trying to make it back one fail swoop. I was selling the bottom of the momentum every it seemed. I pushed to hard after it showed that it was going to hold 20 for a while. I really just need to stay smaller while I was working this. All and all I was wrong on what I though would happen. I was not open ided enough about how this would work in the morning. I was wrong that this would stay above the PM High.
• On tilt long, I was trying to get on the right side of this and I was getting to big and traded with no patience.
• I shorted this at and HoD it went against and then started working, I had some patience. But, I bailed all out as I saw strength at @20.50, I had been working to find this trade all morning and gave it away to fast when it did go my way. I have to find a way to hold these things when they are winning and not take these things to fast.
• This was a much better short set up then I had taken all day and I was on now size. I need to playbook this set up. Not that it is not a trade that is not in my arsenal.