SBEV – PREMARKET BREAKING NEWS SCALP WITH MOMENTUM – 258.20
6:30:03AM
SBEV+1
EXCLUSIVE: SPLASH BEVERAGE GROUP'S PULPOLOCO BRAND RECEIVES AUTHORIZATION FOR 187 RALPH'S GROCERY STORES
@ 7:30 BZ Charlie called out news headline of SBEV to supply Ralphs. A lot of eyes have been on this since last week on news of Walmart picking up one of their beverages. I knew the daily chart did not look sexy but figured I could at least catch this up to Friday’s high of 4.30 or possibly up to 5 (next major daily resistance), however main target was 4.30.
@7:30 volume came in and I got long immediately on the 1st candle 500 shares. Symbol held VWAP for 3 minutes before making a new high on expanding volume.
@7:33 sold ½ position into volume expansion and re-added immediately back up to 500 shares. Volume continued to pour in
@ 7:38 sold another ½ @ $4 to see how price would react here. Stock pulled back on lighter volume, exactly what we want to see. Plan was to let core run to 4.30 resistance take some profit and add for the break of 4.30 for a move up to 5, planning to take some profit around 4.50, since there are often reactions at ½ dollar levels.
@7:42 reached 1st target of 4.30 sold another ½
@7:43 added for the breakout of 4.30 level back up to 500 but got shaken out of ½ for .05ct on micropullback that spooked me
@7:46 volume was no longer expanding at 4.50 level… popped up to 4.60 but could not push further, went flat on final portion at 4.50, thinking this may need a rest. Did not care to hold hold through pullbacks, although I thought this would probably go higher on the day.
@7:55 tried to re-enter with small size but volume expansion ceased so I went flat
@8am flat, not wanting to give back profit
@9:30 SBEV had chopped around a bit and eventually hit 5, but not in manner that offered excellent R/R.
MARKETS HAVE BEEEN WEAK, DID NOT WANT TO USE LARGE SIZE, MINDFUL TO TAKE PROFITS QUICKLY AND USE TIGHT STOPS
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-19 07:30:59 | SBEV | buy | $3.500 | long |
2022-01-19 07:31:06 | SBEV | buy | $3.500 | long |
2022-01-19 07:35:43 | SBEV | sell | $3.730 | long |
2022-01-19 07:35:43 | SBEV | sell | $3.730 | long |
2022-01-19 07:35:46 | SBEV | sell | $3.730 | long |
2022-01-19 07:35:55 | SBEV | buy | $3.770 | long |
2022-01-19 07:38:08 | SBEV | sell | $3.870 | long |
2022-01-19 07:38:09 | SBEV | sell | $3.870 | long |
2022-01-19 07:42:43 | SBEV | sell | $4.240 | long |
2022-01-19 07:43:06 | SBEV | buy | $4.360 | long |
2022-01-19 07:43:06 | SBEV | buy | $4.360 | long |
2022-01-19 07:43:15 | SBEV | buy | $4.450 | long |
2022-01-19 07:44:42 | SBEV | sell | $4.360 | long |
2022-01-19 07:44:44 | SBEV | sell | $4.360 | long |
2022-01-19 07:44:46 | SBEV | sell | $4.360 | long |
2022-01-19 07:46:02 | SBEV | sell | $4.450 | 0 |
2022-01-19 07:55:09 | SBEV | buy | $4.335 | long |
2022-01-19 07:59:21 | SBEV | sell | $4.220 | 0 |
thanks Kevin,
to be honest its taken me some time to get better at this and I would never take these setups if I did not have a squawk box and direct access software for executions... gotta' be able to get out quick
not to be pessimistic but it seems like most follow through happens in premarket these days... its the open I don't trust right now
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Great job on the scalp. I don't know how you guys do it pre-market... I give you a lot of credit; the lack of a stop just freaks me out -- I guess I've been burnt too many times. Either way, really nice on the risk management. Cheers!