Good earnings report.
- EPS beat, rev. beat +28% Y/Y
- Gross merchandise volume of $26.6B vs. consensus of $25.18B.
- Active buyers grew by 7%, for a total of 185M vs. consensus of 186.1M.
but most importantly
- BIG next Q rev. + EPS guidance raise above consensus!!
- Short float 3.7%, +25% YTD vs QQQs +5.5% YTD and SPY +3.7% YTD
+25% YTD vs +5.5% YTD QQQs could cause some profit-taking at the gap-up, but FQ raise was significant. Premarket plan was to get "long" at the opening flush to S1=$63 or S2=$61.5 (even better), expecting to bounce back breaking R1=premarket high=$64.5.
No opening flush lower, instead it tried to break R1=premarket high=$64.5 but got rejected and rolled over. I didn't try the long at S1=$63 since it looked weak, but I tried it at S2=61-61.5 area.
Got long filler size, risking wide stop below $61 whole number, added after the 1min volume spike below $61 tightening stop to LOD=$60.85, expecting the bounce to VWAP at a minimum
Tape remained so weaaaaak that I started revising targets to the downside. Sold bulk at the pop to $62, held small size to see how it would react with the 9EMA@15min chart. Clear rejection and roll-over back to lows was enough to get flat.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-04 09:59:30 | EBAY | buy | $61.780 | long |
2021-02-04 10:07:24 | EBAY | buy | $61.360 | long |
2021-02-04 10:07:58 | EBAY | buy | $61.320 | long |
2021-02-04 10:12:08 | EBAY | buy | $61.200 | long |
2021-02-04 10:24:24 | EBAY | sell | $61.830 | long |
2021-02-04 10:26:24 | EBAY | sell | $61.940 | long |
2021-02-04 10:28:09 | EBAY | sell | $61.600 | long |
2021-02-04 10:40:14 | EBAY | sell | $61.230 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!