LOW Trade on May 20, 2020 13:57 from Cklamb: Tradervue User Stock Trades.

LOW
Statistics
Total gain/loss: $19.91 Largest gain: $7.45 (show)
Average daily gain/loss: $19.91 Largest loss: $-1.92 (show)
Average daily volume: 1200 Average per-share gain/loss: $0.03
Average winning trade: $2.81 Average trade gain/loss: $1.66
Average losing trade: $-1.81 Trade P&L standard deviation: $2.70
Total number of trades: 12 Profit factor: 4.67
Number of winning trades: 9 (75.0%) Average hold time (winning trades): 3 minutes
Number of losing trades: 3 (25.0%) Average hold time (losing trades): 3 minutes
Max consecutive wins: 4 (show) Max consecutive losses: 2 (show)
Average position MFE: $3.91 Average position MAE: $-8.59
Intraday Fundamentals
• 08:20 AM EDT, 05/20/2020 (MT Newswires) – Lowe’s Companies (LOW) reported a jump in fiscal first-quarter results with a surge in online shopping coming during the COVID-19 pandemic, but the home-improvement retailer opted to pull its full-year guidance because of uncertainty about how the outbreak will play out.
• Adjusted earnings for the three months ending May 1 rose to $1.77 a share, compared with $1.22 a share in the same period of a year earlier. Sales climbed to $19.7 billion from $17.7 billion. The consensus on Capital IQ was for normalized EPS of $1.32 and sales of $18.3 billion.
• Chief Executive Marvin Ellison said the Mooresville, North Carolina-based company shortened store operating hours in early March and implemented changes to bring in new policies as the outbreak spread. It brought in “social distancing ambassadors” to monitor customers in stores and hired 100,000 workers for the busy spring season.
• “Our strong first quarter performance, which continues into May, also reflects the benefits of our retail fundamentals strategy, the improvement in our execution, and the resiliency of our home improvement business model,” he said.
• Sales on Lowes.com rose 80% in the quarter, while comparable-store sales surged more than 11% in the period, well ahead of the consensus on Capital IQ for 3.4%.
• In the quarter, the company’s cost of sales rose to $13.2 billion from $12.2 billion, while selling, general and administrative expenses came in at $4.2 billion from $3.86 billion a year earlier.
• Lowe’s pulled its financial guidance for the fiscal year, even though sales “momentum” was seen carrying into the current month.
• “However, there is limited visibility into future business trends in this unprecedented operating environment, which results in an unusually wide range of potential outcomes for 2020 financial performance,” Lowe’s said.
• The company bought back $947 million of shares but said it would suspend further repurchases. The firm has $6 billion of cash and cash equivalents, and $3 billion that’s undrawn on its revolving credit facilities.
Technicals
ADV 7.22m RVOL .96 ATR 3.93 Beta 1.34 Short 1.34% Inst Own 79%
Daily

Hourly

Intra

Trading Strategy
• Long 118 if it happens
• An early hold of 123, and the start of a small trend find the right SMA momentum trade to try and take long with some kind of runner
• Possible scalp style long @121 and yesterday Hod at about 119
Reading the Tape

Trade Management

Trade Notes

I keep shorting this all the way back up into 118. I got too emotional during this byt the time I had fought for price I had a sick age on the last bit that I needed to hold for the rest of the move. I took on too much risk here. However, when it started working and the resistance held. I need to talk myself through the last 30 cents or so.

The way this broke 116.50 felt strong enough to let me take a 15/30. I took half off at 21 cents as this looked like it might break 117 with some strength. I it could not break above .97. I took off another set put the stop just under BE. This left me with a one for one trade that really should. I needed to pull the stop on the last bit to 1 for 1. I need to set the stop at .74 instead looking in hindsight.
I would try and play this long off 116 and get chopped up a bit trying to play to tight. So, then I would find myself taking a bunch of smaller winners as this broke up into the close.