KODK Trade on Jul 28, 2020 10:28 from CapitalMastery: Tradervue User Stock Trades.

Summary

KODK gapped almost 300%, and extended to near 400% on open, and so was looking for a reversal. Anticipated this move a bit, so wasn't the safest, but after noticing a small 1min 20ma cup to the downside, followed by a more significant one, I jumped in short, and rode KODK to through the next flush.

It was a reactive trade, primarily to test out TradeZero since I just got access today and wanted to try out the short locates. While I didn't expect the flush I got, happy the trade worked out. Will def be spending more time focusing on these types of trades using what I'm learning from the ADH course.

Did Right

Waited for KODK to peak out, and entered trade once I saw a backside entry signal.

Did Wrong

Didn't wait for a 5min 20ma cup w/ a 20min bar break, which is the ideal kiss of death entry signal for these moves.

Improvements

Be patient and wait for the real entry signal, and when I get it, enter my position, with 2-3 lots, and add another 1-2 lots on confirmation. First target for these trades are the 120min 20ma. However, given that we sometimes don't get there on day one, be willing to take off the position if the 1min 20ma is reclaimed with a cup to the upside.

Next Trade

KODK popped like crazy AH on news catalyst that Trump enacted the defense production act for Kodak to start manufacturing generic pharmaceuticals here in the US. This is a story longs can really grab onto, so I'd expect this thing to be strong tomorrow, and maybe even the next couple days. Might be best to just stay the fuck away, and trade easier kills.