UVXY Trade on Jul 8, 2020 11:32 from beno: Tradervue User Stock Trades.

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beno

 

Fundamentals

N/a

Catalysts / News / Painting the picture

-SPY went as high as 320 because world is slowly reopening from COVID
-SPY extended and pulled back from 320 to retest the 300 psychological support
-Jun 15 2020: SPY bounced 10 points from 297 low
-Jul 08 2020: US getting hit with COVID wave #2 but market keeping its gains so far

Technical Analysis

-SPY pattern: Consolidation
-Intraday pattern: Mountain
-Other notes: N/a

Strategy / Confluence / Sizing Guide / Risk

Strategy: First test short of SPY 314 level (long UVXY)
Confluence: Prior Close, Whole $
Strike Zone: 313.75 - 314
Sizing (lots + emergency): 3+2
Risk (stop / Rs): Hold above 314

Review / Lessons Learned

SPY was hovering near the 313.7's for awhile which was frustrating me so I took couple small starters and deciding to keep my size for the 314 level... SPY was just stuck right below 314 which nulled the trade for me and I simply stopped out of my starters for a scratch


Execution detail:

Date/time Symbol Side Price Position
2020-07-08 11:32:49 UVXY buy $32.150 long
2020-07-08 11:33:11 UVXY buy $32.217 long
2020-07-08 11:39:29 UVXY sell $32.080 0


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