HOOK Trade on Feb 16, 2022 09:09 from BanalityOfEvil: Tradervue User Stock Trades.

HOOK – PREMARKET SCALP and CORE BUILDER for OPENING DRIVE

7:35:08AM
HOOK
HOOKIPA PHARMA SHARES ARE TRADING HIGHER AFTER THE COMPANY ANNOUNCED IT ENTERED INTO AN AMENDED AND RESTATED COLLABORATION AND LICENSE AGREEMENT WITH GILEAD TO DEVELOP IMMUNOTHERAPIES AGAINST HIV.

TRADE IDEA
HOOK will make a new HOD after the open after positive news release and after-hours gap holding at $2
Setup Quality – C (cheap stock, medium bullish headline, algo presence in premarket)

BIG PICTURE
SPY struggling to hold yesterday’s levels in premarket
VIX @ 26
Float 18M
ATR .12
Double Top pattern forming @ $2
RVOL is elevated premarket
Volume Leader premarket
Price is very thickly traded, this may not move today, too many algos
Price has grinded lower since June 2021, no clear S&R on the daily aside from $10
Heavy HFT Presence is expected

PLAN
On the open, enter on sign of strength, do not panic out if moves lower. If HFT presence is heavy, price may fluctuate but will most likely never halt in either direction. Sell ½ into strength and hold ½ for a greater move. No clear price target, observe price action on the open and adjust dynamically. Try and trade with the direction of the dominant algos. Exit full position by 11:30 to avoid dark-pool-whale liquidation volatility.

EXECUTIONS & PRICE ACTION
• TRY TO TRADE WITH THE ALGOS, DON’T PANIC SELL, LIQUIDATE POSITION BY 11:30AM
@9:08 price has reclaimed $2 on elevated volume, entered starter size 500 shares, max size will be 2000, after hours high is 2.17
@9:31 big volume on the open, doubled to 2000 shares, algo manipulation is ultra-heavy
@9:33 big bottoming tails on the 1 minute showing bullish traders may be in control, selling volume contracting
@9:40 price has stair stepped down slowly, but appears to have bound a bottom @ 1.90
This looks like it could be nasty, if breaks below 1.85 I will liquidate, no reason to fight with algos
@9:50 price has reclaimed VWAP @ 1.96, could be make or break time for the opening drive
@9:51 struggling to push through 2, box is super thick, bullish volume expansion for past 4 mins
@9:53 price trying so hard to make a new high, offers stacked, volume profile is bullish, putting in larges green bar of the session
@9:56 huge bids stacked @ 2.05
@9:59 2.10 is broken on largest volume bar of day, sold ½ for tiny profit, stock is so so heavy, will hole 1000 shares to see where it goes until R2S, 2.05 IS IMMEDIATE RESISTANCE. stop is break even @ $2, will give it to 1.95 VWAP. IF THIS REACHES 2.25 TODAY I WILL BE SHOCKED
@10:10 LOOKING AT THE OVERALL MARKET EVERYTHING IS WEAK, ALL MOMO SCANNERS ARE EERILY QUIET ASIDE FROM ORGN & IBRX
@ 10:13 testing $2 and VWAP, VOLUME STARTING TO THIN OUT
@10:16 Heavy selling, VWAP broken, if cannot hold 1.90 then liquidate, it is normal for algos to push it around like this and front-run retail orders. No big deal. Just hold it. Bids stacked above 1.90
@10:15-10:29 price is consolidating above the 200MA 1min chart below VWAP, not giving up yet
@10:30 VWAP broken to the upside @ $2
@10:50 price has reclaimed the open, volume increasing, only holding 1050 shares, this may have additional bullish eyes on it due to relative weakness in the market, and price testing highs for the 4th time
@10:52 testing 2.11, box is ultra-thick, no clear strength either way
@10:55 RVOL is 1K and daily volume is over 80M - LOL – price stuck in this algo range, slowly wedging higher, finding it hard to sit through this chop. If 200 is broken and holds lower or does not move by 11:30 I will time myself out of the trade
@11am only 5 stocks under $30 have made a new high and only 3 stocks over 50M share float have hit the MOMO scanner, WHAT A WEAK ASS DAY!
@11:01 price attempting to break HOD @ 2.17
@:11:03 sold ½, this thing is too heavy, looking to at least lock in a small gain. Still holding 525 shares micro lot in case we make a new HOD
@11:10:30 30K shares print on the time and sales dark pool sell order filled on darkpool - FADF, biggest seller in a while, this could be ready to drop
@11:31 timed myself out of the trade, it seems like HFT’s will usually manipulate the stock lower after 11:30 if it has not broken out

Key Takeaways
In the future, if deciding to participate in a manipulated stock, just let the algos put a bottom in on the open, get long full size, and sell full position once price reclaims open price or HOD area. Do not try to trade algo stocks off of price action. Just trust that the algo will manipulate the price action and move sideways. These are not worth the time, however, this pattern is extremely predictable and consistent. These types of setups will never yield large gains, but in a weak market they can be a source of consistent small winners. They are so heavily manipulated that they will almost never suffer a liquidity event in either direction, unless it is late afternoon and all volume has dried up... if that happens then just get out before a whale sells their accumulation.