IBM Trade on Oct 27, 2015 13:47 from Holden: Tradervue User Stock Trades.

Dev play: -
Morning- Breaking News - Positive News/Fresh Catalyst - Break out Play- IBM
this opportunity may have just developed out of just working hard. It sounds so odd but that was really a big part of it. The only reason I was looking at IBM and happened to have it pulled up was it had shown up on my intraday scanner and the price action was suggesting the potential of an afternoon continued weakness play so I had the name pulled up on my charts because of the price action before the news broke.
“IBM was says that the SEC is investigating the company in relation to revenue recognition” and the name responded with an aggressive dump.
Research and information collection (what I was seeing and where I sourced the idea)
IBM showed up on my intraday 2x rvol scanner I rip through in prep for potential afternoon plays. Was consolidating in the lower ⅓ of the days range right at a key support level at 141.4 where I was looking for a possible break
Creativity and the generation of trading idea (my thought process for what could develop)
The chart was pulled up but I was not watching it or anything then just noticed a HARD drop showing up below the support level on strong volume. Checked news and saw that IBM disclosed the SEC investigation - THIS MAKES IT A SUPER STOCK in play
Immediately I put my focus on my process for breaking news plays:
First play is momentum break lower - hard drop
Second play is if price action drives up into vwap and holds below, allowing me to short for a trend move lower against it
Third play is a consolidaiton below low of initial spike trending into the close.
Entry execution and position management (Why did I take the play, why did I size as I did and what was my plan?)
Went through the process of writing out rules as the plays developed. (entered on 1st play before but wrote immediately after)
first entry was as soon as action held below 141, second entry on pull into vwap and consolidation below.
Risk management and exit execution (My plan for the play and my reasons2sell)
Momentum play has the largest risk. then I can move stop down with the action in stages. DTA and then look for more in each.
Self Management (Specifically self talk and did I support myself in a way that allowed me to execute to plan)
I have to be very patient, especially following the initial momentum move. Dont be in a rush to get back involved, let the action get up and consolidate below vwap and just like anything else, dont worry about p/l just write out my rules, control my size and play good defense.
Next steps:
Dont get overly aggressive. After these 3 plays, the action is probably pretty much done for today.