ATER Trade on Apr 8, 2022 08:08 from BanalityOfEvil: Tradervue User Stock Trades.

April 8, 2022

DAILY GOALS

• Be conservative if there are not obvious setups. It is the end of the week, small caps had made nice moves all week, you are up 4 green days in a row, and SPY is at the top of 440-450 channel and VIX is over 20
• Green day for 5 in a row

PRETRADE CHECKLIST

Well Rested? NO – up at 4am yesterday and worked until past midnight to wake up at 6am to get ready for work
Exercised/Meditate for 5 mins after waking? YES
At Desk by 8am ET? YES
Feeling Calm? YES
Existing Ideas/watchlist? YES
Green Day Yesterday? YES
Ready To Trade? YES
Established Daily Goals? YES
Premarket Gapper Sentiment? bullish/neutral
Overall Market Sentiment? bullish/neutral

TEMPERATURE SUMMARY

• Small caps have been raging, general markets are rangebound after hawkish fed minutes earlier in the week. Today may not a be a risk-on day. VIX still over 20 though.

WATCHING PREMARKET

• MDVL
• ATER
• BFRI
• SST

TRADES

PLAY

ATER – PREMARKET SCALP

CATALYST

WSB SHORT SQUEEZE CANDIDATE, GAPPING HIGHER IN PRE-MARKET

TRADE IDEA

ATER could touch 5.75 in early trading if breaks and holds over $5 with strength

SETUP QUALITY

(C) symbol is wedging up nicely in premarket but the action in choppy and full of bots, this may have trouble lifting off cleanly. Float may be too high for a large move to occur.

BIG PICTURE

• ATER trending higher since Monday April 4th.
• WSB mentions as short squeeze candidate
• Gapping over daily and short-term resistance of $4 in premarket trading today
• Float 60M
• Short Float 16%
• ATR .46
• SPY under 450
• VIX @ 21
• Resistance @ 4.80, 5 (psychological), 5.75, 7.60
• Support @ 4.30
• Heavy bot presence in premarket trading

PLAN

Catch a premarket scalp before I must leave for work. Get long 500 shares as price wedges up to premarket resistance @ 4.80, take 400 shares of profit at $5. If price moves cleanly through $5 and holds, add 400 additional shares on pullback. Stop on all entries is price tick below most immediate consolidation area. 2nd ideal target is 5.75 but use discretion to unload position depending on price action. This may be heavy. Cut quickly as is already extended.

REASONS TO SELL

• Stopped out
• Timed out (need to leave)
• Tape is heavy
• Algos will not let price move

EXECUTIONS AND PRICE ACTION

@8:06 – after waiting, tape speeding up and some volume finally expanding as price wedge tightly against premarket resistance. Could not get my full 500 filled as price moved a little too quickly through 5. I need to be a little quicker on the trigger for a trade like this. Price touched 5 so I planned for an add on the pullback.

@8:09 added into the dip

@8:10 started taking some profit in chunks, lots of bots printing, tape moving quickly, but price struggling to match.

@8:13 top ticked the move to exit, not liking the price action.

@8:27 sold tiny runner after price could not hold 4.80

KEY TAKEAWAYS

• Be quicker with entry on a wedge like this, it either works immediately or it fails.
• Price action made sense since I had determined this to be a “C” setup. Was not surprised at all by failure above 5.
• Managed risk well, did not fully trust it
• Would classify this as a “cashflow” trade. I will trade setups like this again but feel no need to add this setup to playbook since it is a wimpy setup. 100% piker trade.

WATCHING INTRADAY

N/A – at work

DAILY REPORT CARD – A-

PREP – A

Had ATER on watchlist, traded the best opportunity I could find before I had to leave for work

EXECUTIONS - B

Could have been a little quicker putting size on at my original entry

DAILY GOALS - A

Was very active managing the risk on my trade. Accomplished goal of having 5th green day in a row.

REVIEW – A

Reviewed all trading activity and noted areas of improvement

DAILY KEY TAKEAWAYS

• When trading a wedge like ATER today, you will quickly know if you are wrong. Be faster on the keys to get an optimal price with desired size. This could have been a decent small winner, but my slow entry turned it into a tiny winner.

WATCHING AFTER HOURS

PHIO
ATER

Premarket Prep

Symbol

SPY

VIX

DAILY GOAL