WBA Trade on Jul 9, 2020 09:41 from spyrosz: Tradervue User Stock Trades.

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spyrosz

 

Earnings Report:
* EPS miss, revenue barely beats +0.1% Y/Y
* gross margin down, below estimates
* stock buybacks on hold
* 4k jobs cut (7% of workforce)

Very weak premarket action.
Lost $40.75 premarket, which was a major daily support level, and continued bleeding lower up to the bell. Next support at S1=$39.5, then air-pocket/window to S2=$38.5.
At no circumstances it was allowed to reclaim R1=$40.75 level.

Plan was to "short" any rally/pop against R1=$40.75 for a "Desc. Triangle Support Break of S1" pattern, or "Bearish Bias - Holding Resist." pattern, OR wait for S1=$39.5 break and momo sell-off to S2=$38.5 for the gap-fill on daily.

WBA opened weak and flushed in-front of S1 at the open.
Tried to bounce but VWAP held it down. Had market alignment as well, so I reminded myself to be aggressive here.
AS it came through S1:

Got short half Tier I, risking pivot/lower high above VWAP, expecting the gap-fill on daily at S2=$38.5.
Added more size on the way down after rejection of S1 to the penny.

Started taking covers below $39 on the way to profit target, trailing the 9EMA@5min chart as a stop for remaining position.
Best cover at $38.1!!!

Easy short. Can't believe I made less in this than the QQQ trade.
Should have been the other way around....

image


Execution detail:

Date/time Symbol Side Price Position
2020-07-09 09:41:54 WBA sell $39.350 short
2020-07-09 09:43:30 WBA sell $39.250 short
2020-07-09 09:44:56 WBA sell $39.170 short
2020-07-09 10:02:22 WBA sell $39.050 short
2020-07-09 10:08:54 WBA sell $38.950 short
2020-07-09 10:15:10 WBA sell $38.870 short
2020-07-09 10:15:11 WBA sell $38.870 short
2020-07-09 10:21:00 WBA buy $38.770 short
2020-07-09 10:21:00 WBA buy $38.760 short
2020-07-09 10:24:09 WBA buy $38.980 short
2020-07-09 10:32:40 WBA buy $38.730 short
2020-07-09 10:35:55 WBA buy $38.560 short
2020-07-09 10:37:21 WBA buy $38.630 short
2020-07-09 10:55:04 WBA buy $38.350 short
2020-07-09 11:19:31 WBA buy $38.220 short
2020-07-09 11:43:35 WBA buy $38.080 short
2020-07-09 12:01:44 WBA buy $38.350 0


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