JWN Trade on Feb 19, 2016 10:00 from tsun: Tradervue User Stock Trades.

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tsun

 

"missed estimates by 5 cents with adjusted quarterly profit of $1.17 per share
Revenue below forecasts, as is full-year earnings and sales outlook.
negatively impacted by heavy discounting and unseasonably warm weather"

After the downtrend change had been confirmed, I waited and added in above 47 after seeing a held bid on the previous candle at 47.01. I wanted to see the bids step up and hold the 47 area, but did not like how it was getting rejected at vwap area so after the 2nd rejection, I wanted to play for a short instead but open to the possibility of a long still occurring. I covered back near my entry for flat in my 1st entry.

I then entered short using the top candles which were getting rejected at vwap/47.39 area, with a "reverse to long: stop order at 47.40. I really liked the way it consolidated below vwap and prior to the breakout over vwap, the bids began to step up as well minutes leading up to it. The good part of this trade is that I was long biased due to the trend reversal confirmation, and I did not have to enter another trade for a long if I was right. If it was a fake breakout, I would have bailed and have been ok with the loss since I had already accepted it. I liked the probability of the long trade more than a short, and if it did fade back down, I would have been in the trade already.

I fat fingered my exit but still an excellent trade as my exit was toward 48s.


Execution detail:

Date/time Symbol Side Price Position
2016-02-19 10:00:10 JWN buy $47.060 long
2016-02-19 10:03:57 JWN sell $47.090 0
2016-02-19 10:04:50 JWN sell $47.300 short
2016-02-19 10:09:40 JWN buy $47.400 0
2016-02-19 10:09:40 JWN buy $47.400 long
2016-02-19 10:10:05 JWN sell $47.460 0


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