SQ Trade on Nov 6, 2020 09:40 from spyrosz: Tradervue User Stock Trades.

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spyrosz

 

I completely botched it, leaving +$8/share on the table and no swing position. Major Sh@t.

Amazing earnings:
* EPS and rev. beat, rev. +400% Y/Y = HUGE
* Q3 gross payment volume of $31.73B vs. a consensus of $29.95B
* +180% YTD vs +40% YTD of QQQs
* Guidance????

Gapped higher post-earnings, tested and rejected ATHs=$193 before coming back to $180.5. Held S1=premarket low=$180.5 premarket, broke R1=premarket resistance pivot=$185, and rallied to R2=$188.4 before the open.

Premarket plan was to get "long" at the opening flush to S1=$180.5-181 area (bids close to that levels), expecting a hard bounce at support, reclaim of R1=$185 and a push higher towards R2=$188.4, maybe R3=ATHs=$193.

Opened weak and quickly lost R1, but they couldn't sell it lower despite overall market (QQQs, SPY) getting hit hard at the time.

Got long Tier 0 the moment it reclaimed R1=$185, risking LOD=$183 on the dot, added when buying came into the tape and SQ rallied higher to R2.

(-) Too aggressive taking profits at R2 AND NOT RELOADING SHARES when it cleared the level, held above and moved higher. WHAT THE HELL???

Sold more in-front of R3=ATHs=$193, and closed it when it pushed thru R3 to fresh highs.

Stayed with it wanting to add back shares at a pullback to R3=previous ATHs=$193 after some consolidation/digestion up there and larger timeframes (15min chart) catching up with price. However, name remained just too strong retesting R3, holding above and pushing higher, w/o me feeling comfortable putting risk back on.

(-) Too aggressive taking profits at 1st resistance level
(-) Thesis playing out better than originally planned, strong catalyst, tape confirming, and I failed miserably finding spots to reload.
(-) Left so much on the table, and no swing size here. Unacceptable. And I put size on IWM? Serious???

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Execution detail:

Date/time Symbol Side Price Position
2020-11-06 09:40:27 SQ buy $185.730 long
2020-11-06 09:40:34 SQ buy $185.910 long
2020-11-06 09:44:26 SQ buy $186.390 long
2020-11-06 09:44:32 SQ buy $186.700 long
2020-11-06 09:45:59 SQ sell $187.900 long
2020-11-06 09:47:18 SQ sell $187.860 long
2020-11-06 09:53:07 SQ sell $189.770 long
2020-11-06 10:00:11 SQ sell $187.800 long
2020-11-06 10:11:48 SQ sell $191.740 long
2020-11-06 10:38:49 SQ sell $193.960 0


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