Shared by
diemo
Big Picture
SPY gapped down 1.24%
And recovered during the day:
Elon Musk was rejecting Bitcoin after he initially accepted it as a payment option for Tesla cars. Reason: bad impact on environment. (Energy consumption) With his statement all crypto-currencies dropped down.
Nervous market opening.
Daily
LOW - gaps down 1.67% after earnings:
"Lowe’s (LOW) – The home improvement retailer reported profit of $3.21 per share for the first quarter, beating the $2.62 a share consensus estimate. Revenue also topped Wall Street forecasts, and a same-store sales increase of 24.4% beat the FactSet consensus forecast of a 20.3% rise. Despite the beat, Lowe’s shares fell 2% in the premarket."
Idea
When price falls below support - short.
Execution
The price fell below S1 after the nervous open. Entered after the price seemed to have formed a lower high. (before a second attempt to break the level)
Rating
5/10
Didn't wait until the the level broke and was held.
Chart
Learning
- News is not pointing in one direction. (Up or down?)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-05-19 10:44:00 | LOW | sell | $187.080 | short |
| 2021-05-19 10:55:00 | LOW | sell | $188.030 | short |
| 2021-05-19 11:12:00 | LOW | buy | $188.310 | 0 |
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