Trade Review - COH - April, 23


Stock Selection Information


UPDATE: Coach Posts Upbeat FQ3 Profit

More on Coach's (COH) Q1: Sales in North America rose 7% Y/Y to $792M led by the direct-to-consumer channel while international sales increased 6% to $382M. A big focus on the Men's business appears to be paying off for the retailer with sales on track to double to over $600M this year. The company raises its annual dividend payout by $0.15 to $1.35 per share.  (PR)

Coach (COH): FQ3 EPS of $0.84 beats by $0.03. Revenue of $1.19B (+7% Y/Y) in-line. (PR)





Watch List Reason - Earnings before the open today
Pre-Market Volume - > than 10% 
Trading Plan -  Go long above 56.00

Management

Entry Setup used: Support on the 56.00 level (pre-market range with good volume)


Trading Comments

It was clear that there was a buying pressure when watching the tape. Could see the offers getting taken faster. I saw a catalyst that drove the first up move above 56.00 when a big buyer came in.

Evaluation

Must not double down. I had justifications to it, but still is a trade mistake. The only good thing about this is that I had my risk under control. Even know I was doubling down I followed the position to see if it was within my risk parameters.
Did a good job in adding into the other positions, Including the last add that got me stopped out of the position and broke the up trend. If the stock were to continue in the up trend I would´ve have a great and strong position. Besides the trade was already in the positive side. The target would´ve been the top of the pre-market range. 
No comments:

Daily PM Prep - April, 23

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Stronger move than expected, which is good for buyers. The range extension is possible. A close above 157.25 would be a confirmation of this extension.The bias will only change today if the up trend is broken. Since it has made a strong up move, some sideways action is possible. If we close back below 157.25 than we wait til tomorrow´s open to re-evaluate the overall market picture.
Bias: Bullish
Accuracy: 80% - fake new about a bomb in the White House caused an explosive move down and the market was acting carefully after that. Less liquidity after the fact.

PM Stock Selection Sheet download
Updated at 12:30

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Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk. 2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The afternoon sheet will be updated between 13:00 and 14:00
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Daily AM Prep - April, 23

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly lower today with shares in China leading the region. European markets are broadly higher today with shares in France leading the region. Core Retail Sales in Canada and New Home Sales in the US to be released before market opens.

Economic Calendar



SPY - Market is trading in range. Europe is up and Asia is down, hard to pick a side, so the mostly like is to go nowhere and trade around the point of control. It may try to make a new high, going to test the top of the range at 157.25, where sellers should appear. If we test the high of the fail break at 159.50, we could have a range extension (unlikely). Yesterday low should hold prices on the way down, but if it doesn´t as the up trend is broken a stronger leg to the bottom of the range at 153.75 or even lower could happen.
Bias: Neutral.
Accuracy: 50% Market is holding above 157.25. This move was stronger than expected.

AM Stock Selection Sheet download
Updated at 8:30

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
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