IBM Trade on Feb 3, 2021 09:34 from spyrosz: Tradervue User Stock Trades.

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spyrosz

 

The 1st part is an exceptionally well-managed failed trade. The 2nd trade is rubbish. And what should you expect from rubbish? Sh@t.

On main watch for continuation to the downside after the gap-down on what I thought was a terrible earnings report (posting another revenue miss and declining rev. on cloud services. How that's possible?).

9SMA@daily played a bit of catch-up and held it down after the bounce attempt. Now, it was looking ready to break-thru the low at earnings day=$117.5 and continue towards $115.5-116 which was major daily support.
S1=$119.5, S2=minor support pivot=$118.5, and then S3=LOD on earnings day=$117.5 which was the major trigger.

It was trading above S1=$119.5 premarket but 1min before market open collapsed right into S2=$118.5 which made everything soooo difficult.

Got short filler at the opening pop towards S1=yesterday's close=$119.5, risking very tight stop above S1, expecting to reject price, roll-over and move lower.

Every bounce attempt from S2=$118.5 towards $119 got rejected at $119 and I started scaling into the short, growing more and more confident as IBM was showing relative weakness vs overall market. Built the core size vs $119, added two momo tiers once it held below VWAP to the penny, risking the latest lower high for those adds, expecting to clear LOD=$118 and move to S3=$117.5.

Looked good until it snapped back higher reclaiming S2=$118.5 and VWAP.

Quickly covered 70% of size at VWAP, held rest to see if it would hold. It held and I got flat for a tiny loss (< filler size).

(+) Exceptional risk-management here and a tiny loss based on size accumulated. Nice trading:)

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Execution detail:

Date/time Symbol Side Price Position
2021-02-03 09:34:15 IBM sell $118.840 short
2021-02-03 09:36:33 IBM sell $118.630 short
2021-02-03 09:48:52 IBM sell $118.600 short
2021-02-03 10:02:34 IBM sell $118.620 short
2021-02-03 10:13:09 IBM sell $118.500 short
2021-02-03 10:20:28 IBM sell $118.460 short
2021-02-03 10:20:28 IBM sell $118.460 short
2021-02-03 10:56:54 IBM buy $118.660 short
2021-02-03 10:58:06 IBM buy $118.800 0


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