Stock Selection Information
Macy’s (M) declares $0.25/share quarterly dividend, 25% increase from prior dividend of $0.20. Forward yield 2.11%. For shareholders of record June 14. Payable July 01. Ex-div date June 12. The board increased share repurchase authorization by $1.5B, bringing the total share repurchase program to approx. $2.6B as of 04 May. (PR)
Macy's (M): Q1 EPS of $0.55 beats by $0.02. Revenue of $6.39B (+4% Y/Y) in-line. (PR)
Pre-Market Volume - 6.56%
Trading Plan - To go long on a break up above 48.00 or to go long at a support level at 47.00
Management
Entry Setup used: Pre-market range break up | Pre-Market range fail break
Trading Comments
First trade was taken and it was a good entry. As the market was correcting and most stocks were failing to break pre-market range, this stock was hold. And there were buyers taking the offers, but the trade was stopped out.
Second trade was a really bad one. My plan was to go long if it break above the 48.80 level, but it never did. My anticipation cost me money. When it failed, I believe it would not continue the up move and soon would follow the market. So I shorted it on a failed break, but at a bad price. Should offer it around 48.70.
As it started working, I was concerned with taking the profit but had my target at 47.01, but I decided not to wait for it an closed the position. Tape reading helped me to get out of the position and to see it was hold the level in the open.
Second trade was a really bad one. My plan was to go long if it break above the 48.80 level, but it never did. My anticipation cost me money. When it failed, I believe it would not continue the up move and soon would follow the market. So I shorted it on a failed break, but at a bad price. Should offer it around 48.70.
As it started working, I was concerned with taking the profit but had my target at 47.01, but I decided not to wait for it an closed the position. Tape reading helped me to get out of the position and to see it was hold the level in the open.
Evaluation
I don´t think it was a great trade, but it worked. My entries were not all good ones, mainly the second entry when I tried to anticipate the market, but it helped me see the stock was no longer strong.
Last exit should´ve been at my target and not to take profits. This was my plan. I must correct this and improve my morning sessions,cause I am not being very efficient at them.
Last exit should´ve been at my target and not to take profits. This was my plan. I must correct this and improve my morning sessions,cause I am not being very efficient at them.
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