Market Condition (Uptrend, Downtrend, Under Pressure, Rangebound):
- QQQ Rangebound. Broke out of 10ma, 20ma & 50ma yesterday but didn't hold.
- DJI Uptrend. 5th day into brekout.
- SPX Uptrend. 4th day into brekout.
- RUT Uptrend. 4th day into brekout.
- FSK (3 days ago) Breakout Failed
- Uber, SBLK Breakout sustained
AAL showed up during the market. Was not on my watchlist pre-market.
Was the strongest out of reopening playgroup (airlines, retail, and cruise lines)
- Norwegian was weak when AAL was strong (in terms of price pulling back).
- Norwegian had an ugly setup
- Other airlines like SAVE were up, but AAL chart and breakout looked strongest to me at the time.
Potential Improvements:
Executed well. Was a bit slow to put the position on, but in the time I lost, I sensed that AAL was stronger than the other reopening play stocks
Started using half size. Half account size going forward as this is what I'm most comfortable with for now.
EDIT: 16/02/2021
- 3rd day Took off 1/3 on weakness
- Stops moved to 10ma or breakeven, the higher of the two
EBIT: 17/02/2021
- Sold position due to market weakness on open
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-12 01:35:06 | AAL | buy | $22.660 | long |
2021-03-16 09:56:33 | AAL | sell | $24.840 | long |
2021-03-17 10:06:58 | AAL | sell | $24.720 | 0 |
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