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May 27, 2020 09:31


Support Play Strong 2 Hold

Intraday Fundamentals
ADV 51.5m RVOL 1.57 ATR 1.73 Short 4.4% BETA 1.26 Inst Own 78.6%



Trading Strategy
• Gap close long around 26, expect to flounder a bit if it gets there before recoverying
• If this moves to 27 out of the gate wait for a change in the tape and look for a short term opening long back into 27.50
• Short if this begins to fail above 28, and evaluate strength as it comes back into 28 a long enough hold of 28 should set this up for a possible run to 30
• Long short any test of the opening range if it trends at all above or below
• VWAP tests and SMA momentum plays on the same side as VWAP
Reading the Tape
I did not see the print at 27.12. I did however noticed the stop in descending prints. I held for prints in the .20s which it moved through quickly.
Trade Management

Trade Notes

I described this trade pretty well in the morning game plan. It played out almost exactly like I was willing to take the scalp. It did not quite get to 27 on the opening flush. But, this did stall long enough for me to try to get in the in the .20s. It filled me a little late and a little high. However, this was a solid game plan executed a little quicker may have set me up for a 20/40 if I could have gotten filled a few seconds earlier. I did take this without a bracket but I did have a plan to tap it out if it started to give up .25 again. It just never worked against me partially due to a solid tape read.

Execution detail:

Date/time Symbol Side Price Position
2020-05-27 09:31:43 DAL buy $27.335 long
2020-05-27 09:32:17 DAL sell $27.480 0

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