MMM Trade on Jul 28, 2020 09:30 from spyrosz: Tradervue User Stock Trades.

Earnings release:
* EPS miss, rev. miss and -12% Y/Y
* Organic growth -13% vs -10.4% consensus
* No guidance

I was contemplating between MCD and MMM on which to short, decided to focus on MMM due to cleaner premarket action. (even though MCD ended being an easier short overall).

Gap-down premarket after earnings release, found support at S1=200SMA@daily=$158-158.6 area. Very weak premarket action, looking unable to bounce from S1.
S2=50SMA@daily=$156.5, and below that S3=$154.
Plan was to get short for the break of S1, add more size through S2, taking covers closer to S3.

1min before open, MMM got hammered, broke below S1, lost about $2-2.5, and opened below S2=$156.5!! At the pullback towards S1,

Got short Tier 0, risking the 200SMA=$158.6, added more to the core risking tighter stop $157.5 once it started holding below S2, added momo tier for the break of LOD=$155.5, expecting flush to S3=$154.

Covered half at $154.5s but didn't get filled on remaining size by 15c!!
As a result, I didn't reload at the retracement+rejection to the penny of S2=$156.5.

Covered small on the way back down towards LOD, covered most at target.
Held tiny size with stop above VWAP that got hit a bit later.