IBM Trade on Oct 20, 2015 09:45 from Holden: Tradervue User Stock Trades.

ANTI PLAYBOOK -
Consolidation below ONL/Key S w Confirmation and change of character - Broke lower but had big support just below - IBM
IBM was gapping down after missing earnings and lowering full year guidance. This gives me the potential of a SUPER stock in play
There was a really important support level at 140.5 from 8/25 and 10/2 just below the premarket range that certainly should have been considered as important support given the strong bounces that had developed from those levels previously.
Research and information collection (what I was seeing and where I sourced the idea)
Breaking news as it reported earnings yesterday after the close so noted the levels from afterhours then this morning looked again. Also started my planning for this name with 2 month daily, then worked to lower time frames to build idea.
Creativity and the generation of trading idea (my thought process for what could develop)
Was in other names earlier in the session and with an alert set at 141 that went off I thought that I would need to wait for a test and hold below key support level before taking entry so when the action failed to clear R I looked for a short against that level thinking a trend play lower may develop.
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?)
Short one tier OTM puts against 141.41 on the failure to clear that level.
Risk management and exit execution (My plan for the play and my reasons2sell)
Kept position small thinking that if the price action would have held below support at 140.5 I could get bigger.
Action tested lower but did not break below key support level before bouncing up and stopping me out.

Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan)
Was looking for the move that developed in HOG but a couple of really big difference between the two opportunities.
Why is this my anti-playbook trade and what do I need to do to improve
Never want to be entering a short with important support just below regardless of the intraday price action. With key support just below at 140.5 I dont have edge by getting short below the key 141.41 level because I have to expect the action to find some support at 104.5 and make it a difficult trade for me.
Be fully aware of the key levels and dont short into a support level.
In order to get any continued downside pressure in this name, it is absolutely imperative that I wait to see the action hold below 140.5 and confirm.