Trade Review - HDS - June, 27

Stock Selection Information

IPO today.
Price reference - 22.00 - 25.00
Shares - 53,191,489
Offer Amount - $1,529,255,300
**Daily picture not relevant

Watch List Reason - IPO
Pre-Market Volume - N/A
Trading Plan - To go long if price is above the reference levels.

Management

Entry Setup used: Momentum play with tape reading.


Trading Comments

The stock had opened below the reference prices and I was looking it trade around the 18.00. It should´ve drop this level, but did not. I could see the buying pressure on the way up. It tested the 18.25 once and failed it. On the second test, it broke above with good volume and I got in at 18.26. Tape reading skills helped me to take the trade on a momentum setup.
When momentum was over I closed the position.

Evaluation

The entry and execution of the trade was fine. This is how I like to trade, stocks with fast prints and momentum. Lately the market is not showing this movements pre-market, so I´ll need to adjust my opening strategies.
Also I could´ve stick to the stock and find other entry points in the stock.
No comments:

Daily PM Prep - June, 27

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - It moved to the expected resistance area at 161.21 and now is consolidating at this level. Also respecting a short term up trend line.
1-) Neutral (60%) - It is the most expected scenario. Do not believe it will move too much in the afternoon. High and low of the day are the key levels to watch for the afternoon.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 80%

Updated at 12:50

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 afternoon sheet will be updated between 13:00 and 14:00
No comments:

Daily AM Prep - June, 27

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices.European markets are mixed. 

  • 08:30 - Initial Jobless Claims - Bullish expectation


Economic Calendar



SPY - Yesterday we had the level of the previous range tested at 160.25.
1-) Neutral (40%) - I don´t see the market gaping (up or down) today. The references for this scenario are the 159.50 and 161.25 level. Before moving to scenario #2 or #3 it has to start inside this range. If I am wrong and it gaps up, look for a gap fill to the down side. If it gaps down, then due to the bearish long term bias, go with the move. On low volatile scenario around the 160.25 level, stay away.
2-) Bearish (35%) - The long term bearish bias and the fact that we are testing the brake down zone, suggests buyers will not hold this level. If we start trading below 159.50 favor short trades.
3-) Bullish (25%) - If the bulls are stronger and decide to move prices higher, we have to possible resistances: the gap area and the down trend. Favor long trades, but don´t be too greed on the profits.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 75%

AM Stock Selection Sheet download
Updated at 7:50

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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