LTHM Trade on Aug 6, 2021 09:37 from MichaelBLe: Tradervue User Stock Trades.

8-6
7:00AM
This reported earnings and made money this quarter. Compared to Q2 of last year, it's an increase of 500% with an increase of sales of 57%. The earnings isn't consistent enough to be crazy about the stock. Typically W.O. wants to see 3 consistent quarters of increase EPS and Sales.

EPS rating is a lousy 17 with an RS of 93

2 of the funds that W.O. likes are in this name...

Not the best fundamentally stock but sure is a pretty chart.

Technically, we see a large bull flag pattern that spans over 8 months. Digesting the move from sub 10s into the mid 20s. Stocks that double, tend to double again...

I took an entry after it broke the HOD. Then added again on the break of the 21.25 area. After the 2nd add, I put my stop to the LOD of 20.80.

The way this name trades is very weird. There has been 2 shake outs as of late. I think this is dominated by algo trading. I have to be careful about where I set my hard stops. My stops are visible and they can be targeted.

8:55AM
Took on a little bit more shares and moved my stop to 20.95. No plans to add any more for the weekend. Letting this name work now...

8-8
1:11PM
LTHM had a strong day with volume confirmation. The weekly chart is solidified the break out from the wedge pattern. I won't be adding anymore to this name to avoid being too heavy invest and over reacting on a natural pullback...

I will be looking for a follow up day on Monday. Ideally, a small gap down and a quick break of Friday's high would be ideal. If this were the case, I will have to add more size into the trade..

8-9
6:39AM
I added into my position just a small portion as we open slightly down, retest the rising 20ema on the 1 hour chart. I waited for support to show up before entry. I was going to add at the 21.60, which was where I saw the previous pivot point was at. Waited for the tape confirmation. The price broke down into the 21.40s and started to rebound from there. I bit the bullet and went long despite feeling uncomfortable.

I've seen the 20ema act as support intraday from time to time. It doesn't mean it'll work this time, but the chart lines up.

6:43AM
Correction, that was the 10ema intraday... I mixed up the indicators...

6:54AM
My last add into this trade was based off the red to green move LTHM did. No plans on adding any more. Will manage this trade. Moved my add on stops to above break even and the remaining 800 shares are sitting at break even.

For this stock to go red to green within the first half hour of trading shows demand for the stock. The overall picture of the stock is encouraging.

7:35AM
Stop got triggered for the added shares today. Rest is at near break even. I was about to move my stop a little lower to allow it some more wiggle room but the stop triggered before I could do anything. It's okay, probably for the better. I would like to add on those shares back if the stock allows so...

8:46AM
I bought back my 400 shares from this morning as we broke over the 22 level. In the back of my head, I wish my stop wasn't close enough to get wicked out... But at the same time, I know that this was the right thing to do...?

The price action is volatile for a sub 100 stock. Price can move very quickly as I noted in the beginning of this trade. A .40 cushion was crushed very quickly and 1st stop got taken out. Maybe I should use my stop loss on volatile stocks like I would with more steady slower movers?

8-10
6:44AM
I took off 1/3 of the position here as we approached ATHs going practically vertical since PEG. This is a good strong stock but I want to secure some gains near ATHs. Letting the remaining shares in the low 23s and high 22s..

8:15AM
A lot of names on my watchlist are pulling back from the morning highs. Mainly software tech names. I took off 200 shares as this name keeps making highs. I expect this name to consolidate here after breaking ATHs on good explosive volume.

8:51AM
I took another 200 shares off this position as I think the top is set for the day. I will be looking for consolidation, around the high 23 area for a couple days at least. Minimizing exposure during this stage. Will add more when we form some tight price areas.

8-11
6:09AM
LTHM is gapping up this morning. This has made a huge move since the PEG. It's getting extended and could some consolidation or pullback. I want to keep some shares in this name just to have a pulse in this name.

I sold 1/4 of my remaining 400 shares premarket. I want to keep some shares in this name to keep my foot in the door. I will let this consolidate and set up over the next few weeks.

6:58AM
LTHM had a violent move down. Most likely stop hunting. My stop was taken out in the process. I got rid of most of the gains by this time anyways. I think it'll get tricky moving forward for a couple days. I should let this set up some tight area to get back into it.