APHQF Trade on Oct 31, 2018 15:59 from Marius: Tradervue User Stock Trades.

MJ Sector + Market Bounce Trading Plan & Review (bullish intraday / shorter-term swing / higher open / gap-up play)

Thesis here is that the market is looking for a shorter-term bounce from the recent sell-offs relying on multiple TA aspects and a stronger closing of earnings season. Certain companies are able to buy back significant amount of shares as soon as we go through the buyback black-out period. We are also closing the monthly candle with a wick trying to imply a reversal. Will have to see were the market is for making & confirming any bullish momentum divergences. Also noting positive advancing breadth factor in markets. New month is tomorrow and will see how the futures market moves and regular market during extended hours. I specifically chose the MJ sector due to my own recent performance and developing edge. AAPL is also to report tomorrow AH (potential significant market catalyst)

• Strong previous futures & A.M. market bounce. FB positive notable earnings reaction. Discretionary reviewed SMH (semi-conductor sector) & SLI (industrials sector) for added weight of overall evidence. There are some interesting business cycle and fundamental equity factors additionally but it is not weighted here. QQQ + XLF + IWM showing bounce correlations with SPY bounce.
• Trading MJ sector for volatility + relative strength and using previous edge strategy.
• APH slightly increasing bullish RVOL at 1.03 today
• APHQF ATR 1.65
• Strong daily close with no notable profit taking wick.
• Next resistance at 12.29 (38.2% fib level)
• No notable new / event catalyst besides APHQF NYSE up-listing. Possible run up into up-listing.
• APH showing higher candidate in MJ sector. Strong relative strength in MJ sector and against SPY. Showing possible strong institutional algo pattern buying (very tight/precise H's & L's visible on 15m) I also observed this in the CGC run-up, some instances involving mega-caps, and in cryptocurrencies. Notable volume shallow pull-in buying.
• Maintaining price action above intraday and second-day VWAP.
• A lot of names are over-extended in the 195m timeframe so I'm factoring a stop-loss on an overall market pullback. So I'm not as large in position size as I could be but regarding this as a B trade vs. an A+. If there is a strong follow through I can reload and or add adjusting accordingly targeting the Friday up-listing date (?) along with possible strong AAPL earnings expectations. Will have to see how tomorrow goes for that.
• Net House institutional buying (courtesy of TCG members) show good size opening positions in identified institutions. (will have to look into this info for future reference & is it available & useable for larger cap names (?))
• Reviewing the time & sales in last trading hour notably showed more offers being hit. (have done more tape reading assessments after hours but need to work on real time) Notable 10k share order sold but quickly bought w/ v shape recovery.
• TCG Team sentiment buy/swing neutral due to EOD overall market pull-in/profit taking.

Closed Trade Review
- Futures market was range based. Regular markets the same looking for a LH.
- Exited position on open w/ higher open. Noticed other MJ names run higher in pre-market and profit taking. Have to consider this in future plays but requires much earlier preparation and execution in extended hours.
- Reviewed time and sales on my execution and was within the first orders out. Timing for this play is crucial to lock-in profit.
- Notable profit taking proceeded with some buying after open however bears took over with notable volume and velocity on the 1 minute which signaled a reversal.
- Looking to see where the MJ names consolidate and for the HL due to the extended 195m time frames.
- Need to learn how to flip positions into shorts from here. This is potentially an area where I can increase performance but will have to learn/practice the bear plays with quick reaction.

• Last Updated : 2018-11-01 10:06:57