PINS Trade on Jul 31, 2020 09:32 from Cklamb: Tradervue User Stock Trades.

PINS
Intraday Fundamentals
• Pinterest Inc. said Friday that its second-quarter net loss narrowed as the photo-sharing platform gained customers spending more time at home because of the Covid-19 pandemic.
• The company reported a loss of $101 million , or 17 cents a share, compared with a loss of $1.2 billion , or 2.62 cents a share, in the same quarter a year ago, when a one-time charge related to stock compensation hit the results.
• In the first quarter, as Covid-19 began to change customer behavior, Pinterest reported a net loss of $141 million , or 25 cents a share.
• Analysts had expected a wider loss of 28 cents a share for the second quarter.
• Total sales rose 4% to $272.5 million . Monthly active users grew 39% to 416 million, while FactSet estimated 378.7 million.
• “We’re seeing more and more people rely on Pinterest to cook at home, plan kids activities and set up a home office,” Ben Silbermann , CEO and co-founder, said in a press release.
• Pinterest refrained from issuing extended guidance because of Covid-19 uncertainties but said revenues are rising.
• “We estimate, on a preliminary basis, year-over-year revenue growth for the month of July to be about 50% through July 29th ,” Mr. Silbermann said. “Our current expectation is that Q3 revenue will grow in the mid-30% range year over year.”
Technicals
ADV 13.93 M RVOL 1.16 ATR 1.16 Short 7% Inst Own 68.8%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• This will open 20% over yesterdays close highly unlikely that it closes at that level
• Take a small short on any opening spike or retest of VWAP
• Look for a long at 32 as S2
• VWAP test and SMA momentum play off Intraday levels
Reading the Tape
I did watch this slowly break(considering the time) and then fail the attempt to retake at which point I market ed in thinking that I had .50 over the top and set a run maybe even much lower.
Trade Management
Trade Notes
This was just a basic mean reversion attempt out of the gate. I did honestly think that this was short for the whole day. However, I took the quick win. I did think there was more and there was really no reason to sell on this one other than I 33.00 was a great target consider the risk that i had out on the trade of only 6 cents plus slippage. A solid opening trade that almost worked to well right away.