XOM Trade on Apr 20, 2020 09:31 from Cklamb: Tradervue User Stock Trades.

XOM
Intraday Fundamentals
• Huge sell off in near term oil futures
Technicals
ADV 37.5m RVOL 1.09 ATR 3.21 BETA 1.26 Inst Own 57.20 Short 1056%
Daily

Hourly

Intra

Trading Strategy
• Short at 40.50 as an opening drive, if it moves higher out of the open wait until it tests 41 and expect the sellers to come in in. if you do get in at 41 be smaller at 50 and take some more off at .30 setting the stop above .50 after that
• If you short at 40.50 take the 50 cents risk on a lighter load and hold until a trend 41 holds with strength.
• If this flushes 40, after already being short ad to the position on a retest of 40 for underneath
• VWAP shorts and SMA momentum plays
Reading the Tape
I started with my short play off 41 this morning as it looked the tape was getting weak. It flushed and stilled look weak but the strength came in just above 40.50 and the bounce from there was quick. The tape on this the rest of day never led to any trade decisions on its own.
Trade Management
Trade Notes

I stayed pretty close to the game plan to short this as an opening drive this morning. I got in as it seemed like I was going to get the resistance hold at 41.00. The fill was okay but not great. It gave me the idea that I was in the right when it flushed a bit. This kept me from lighting the load as it should have. But, I bounced pretty quick and pretty hard. This left me adding at 41 instead and again at .25 stopping above 41.50. I got the last add off at 40. And held two thirds looking for this to give up 40 again. I ended up adding one more just under 41.54 . I had planned on stopping this just above 41.60 for a bit of beating if it did not reject 41.54 (low point in the bullish after noon run from Friday) I hit and held long enough to get me into profit with a little bit to try to hold on the original thesis. But, It seemed to find some strength just under .25 and I took what I had off for a bail out win.
I will take some time to say that I should not be adding to a losing position most of the time and waiting for mean reversion when you upside down can be painful at the opening. But, I managed my emotions here and was looking a little more at what could be made as opposed to what I was losing.
I came back at this at 42 as it looked like it might have put in the morning HoD. I will admit that I was a little surprised that this closed the gap that will not show on the daily chart now. IT moved as high as 42.25 before getting weak, I took it short as it could not quite come back up to 42. I got partial on the first trade and set the stop at the partial I took. This tap out at a BE. The next attempt gave the same set up with a slightly better partial and moved the stop behind the SMA which gave up a pretty solid opportunity to bail out on the tape change which I did not do.
I came at this after watching it struggle to overcome an overnight level.It also a pretty methodically break down at .50 bouncing off the level several times with slightly lower reaches higher. I feel that I could have anticipated this a bit better. I did decide to wait for the break and use the level as a lind in the sand. This got 2 to 1 as i has only put out 6 cents. but it had way more.

I stayed pretty close to the game plan to short this as an opening drive this morning. I got in as it seemed like I was going to get the resistance hold at 41.00. The fill was okay but not great. It gave me the idea that I was in the right when it flushed a bit. This kept me from lighting the load as it should have. But, I bounced pretty quick and pretty hard. This left me adding at 41 instead and again at .25 stopping above 41.50. I got the last add off at 40. And held two thirds looking for this to give up 40 again. I ended up adding one more just under 41.54 . I had planned on stopping this just above 41.60 for a bit of beating if it did not reject 41.54 (low point in the bullish after noon run from Friday) I hit and held long enough to get me into profit with a little bit to try to hold on the original thesis. But, It seemed to find some strength just under .25 and I took what I had off for a bail out win.

I will take some time to say that I should not be adding to a losing position most of the time and waiting for mean reversion when you upside down can be painful at the opening. But, I managed my emotions here and was looking a little more at what could be made as opposed to what I was losing.

I came back at this at 42 as it looked like it might have put in the morning HoD. I will admit that I was a little surprised that this closed the gap that will not show on the daily chart now. IT moved as high as 42.25 before getting weak, I took it short as it could not quite come back up to 42. I got partial on the first trade and set the stop at the partial I took. This tap out at a BE. The next attempt gave the same set up with a slightly better partial and moved the stop behind the SMA which gave up a pretty solid opportunity to bail out on the tape change which I did not do.