SNOW Trade on Dec 15, 2020 09:45 from thefudawg: Tradervue User Stock Trades.

Thesis coming into the day was that SNOW had to defend the $319 level which was the IPO high. We had the Sammy theory of every time SNOW pops 40 it drops 40 and it continues until it pops 70. A 40 pt drop was really close to our key levels and the last time we hit the 21 EMA on the daily we ripped like crazy. Had plays for playing both directions for SNOW with dump to $300 if we lose $319 or rip to POC up at $390, with $343 in sight possible for the day.

I played SNOW 3 times and was a semi-big loser here. The first time was shortly after open when dumped to $303.54 (almost to $300) and began to rally. With it being quad witching, I didn't trust it here and as VWAP/8 EMA/ 21 EMA started a bullish crossover, I got into this position when we peaked out of the 1m cloud. We had a few strong wicks but when we got a huge bearish engulfing candle and a next pop that barely covered half of the previous selling candle - I cut it here. The volume was increadily below average and I did not like the probability from there. Looking back this play - it was still valid, but I wanted to manage risk.

The second time I played snow was when we cracked into the IPO $319 zone and $323 and began to lose it hit the $319 zone and starting to fall out of it. I got into puts here, but of course, it began to base and then popped up through the 21 EMA of $323. I cut it about halfway through the zone.

The last time I played SNOW was to switch to calls at the $319 level but I was probably still emotional from the last 2 trades and cut this early. After I cut, we broke out of the zone and in the last 25 minutes of session we rallied from $320 to $328.

Grade: C
Good set-ups and entries, but did not give the plays time to play out.