Shared by
dpaleo
Tags:
Earnings
Fade
as is the case with these monster day 1 earnings moves the blow past the expected move, fading them is not advised unless there is true extension, and ideally later in day, kinda like we got midday on ramp from 480 to 485.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2024-02-02 09:47:36 | META | -25 | $474.900 | -25 |
| 2024-02-02 10:04:46 | META | -25 | $474.880 | -50 |
| 2024-02-02 10:07:30 | META | -25 | $472.680 | -75 |
| 2024-02-02 10:18:46 | META | -25 | $473.350 | -100 |
| 2024-02-02 10:22:53 | META | 60 | $476.000 | -40 |
| 2024-02-02 10:23:33 | META | -65 | $474.860 | -105 |
| 2024-02-02 10:23:38 | META | -10 | $474.200 | -115 |
| 2024-02-02 10:23:54 | META | -5 | $474.060 | -120 |
| 2024-02-02 10:29:35 | META | -100 | $473.090 | -220 |
| 2024-02-02 10:34:31 | META | 100 | $474.250 | -120 |
| 2024-02-02 10:38:50 | META | 120 | $476.778 | 0 |
Comments
dpaleo
2024-02-05 17:45:11
This is a great observation regarding the opening volume. You can add IBM 1.25.24 to that bucket
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It's more time consuming, but I've decided to discuss with you in written form as it will stick more for the both of us.
I got hosed on this as well. This has been happening quite a bit where the morning ramp leads to consolidation and they ramp it again in the afternoon.
Ex.
NVDA 1.24.24
AXP 1.26.24
NFLX 1.26.24
All the volume from open to 9:47(1min chart) was a tell that there was likely going to be at least a second push and lately there has also been a stop run for the second push.
Concerning your question of paying more attention to small caps. I don't trade small caps anymore. I will ask, have thought about the VWAP break down trade that usually works in small caps and applying that same concept to large caps where usually it doesn't work.