LULU Trade on Jun 4, 2020 09:37 from spyrosz: Tradervue User Stock Trades.

Difficult short on one of the strongest momo names out there.
Not fun.

Had it on watch after 4-consecutive green days w/o slightest pullback. Over-extended by all metrics.
Wanted to see some change in character, a sign of weakness in order to get involved to the short side.

Well, relative weakness vs market first 30mins after open did the trick.
Got short filler, risking wide stop above yesterdays HOD=$325, wanting to add size after further thesis confirmation.

Held S1=yesterday pivot=$320.5, bounced back to VWAP. Looked it was holding below and I added a bit more.

(-) Risky adds w/o proper confirmation and lack of clean/obvious short setup cost me in terms of mental capital and proper trade management.
(-) Had to trim some, added back at higher prices risking same wide stop-$325s as before. Had to withstand a bit of pain as well when it popped to $324s.

Anyway, rolled over when we got market alignment, broke below S1.
Took half in-front of S2=$318.5.

(-) Obvious short setup the bear flag below S1. Didn't take it. That's why mental capital preservation makes a difference in this game.

Covered rest on the way to S2=$314.5...