LB Trade on Jul 29, 2020 09:34 from Cklamb: Tradervue User Stock Trades.

LB
Intraday Fundamentals
• BZ: L Brands shares are trading higher after the company announced it sees $400 million annualized cost reductions through profit improvement plan for Victorias Secret. The company also announced it has reopened most Bath & Body Works and Victoria's Secret stores in North America.
• *MW L Brands stock price target raised to $27 from $16 at Deutsche Bank
• KeyBanc Maintains Overweight on L Brands, Raises Price Target to $28
Technicals
ADV 8.04 RVOL .32 BETA 1.32 ATR .81 Short 9.32% Inst Own 82.90%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Short 24, add up to 25 and if it starts to work
• Scalp short any opening spike above 23
• VWAP Tests and SMA momentum plays off intraday levels
Reading the Tape
I did catch what seemed like the right action to take this short at 25. Which was there, the tape even told me that it was probably going to break this level after I was in the trade leading me to start trying to cycle the original profitable trade. It caught stalls at 25.50 and 26 as they both looked to reverse and I saw the at the top and the heavy selling in that range.
Trade Management

Trade Notes
I have to say that this was I should have tapped out of this at 25.32. However, I walked away momentarily and came back to this testing 25.50 and feel off the plan. I did feel like this was overblown and decided to try to stick this through and work try to cycle in and out some shares will it was above 26. I however could not get anything to fill and ended up just having to wait for this thing to come back and hope for a test of VWAP. It did get there eventually but I bailed a little early after recovering most of what I was back. The action at 25.66 just wasn’t breaking until it spiked into the lower50s. At that point, I felt that I missed the VWAP test and I was past my normal mental capital and took the loss with a little pride that I had managed to control this loss and had a chance to make it work if I could have pulled any of the shorts at 26.50 when I was at max pain.