Stevo 4 Posted January 7, 2019 (edited) Hey Brian and any Swingers out there If pre-market action and no bad news for tomorrow morning looks fair enough, looking to enter SQ at about $58.75 with a price target range ride up to $67-70, and ROKU enter under $34 if possible and ride it out to about $40.00 target. I have pretty ample stop losses on these swing trades ($SQ at -$2.00 stop loss, and ROKU about -$1.00 for the first day of the trades) and can allow them to run to about Feb 10 or so if necessary. Looking for Monday to be a bulls in charge day to kick these off otherwise I'll have to bail. I'll be of course looking for signs of weakness/strength in the morning. I've been trading these two stocks the last couple months and while they can be very volatile, I think now is the time possibly that they can run for me enough to secure a good start to a pretty long swing trade. We will see what happens. I'll need to pay attention to earnings reports coming up, china situation, trumps mouth LOL, and overall market conditions. SQ tends to go south when it drops in a session below $2 bucks, ROKU the same when drops down a buck. The risk to reward is very good if the market rally's for me over the next two weeks. Could be a gap up to deal with premarket, or who knows, gap down, prefer a gap down. If all fails, I will bail at the stop losses and look to remount perhaps at some point. Any thoughts or suggestions welcome! - Steve Burke UPDATE: RESULTS OF THE ROKU TRADE CHARTED BELOW, PLAN WENT EXTREMELY WELL! SQ trade also went well, but this ROKU trade was insane! The below marked up results chart should explain it all. I took some time to add as much detail as possible... Edited January 11, 2019 by Stevo Revised Chart: added with broker statement & updated correct profit amount after review of broker statement. 1 Share this post Link to post Share on other sites
ecadaret 14 Posted January 7, 2019 Hi Steve, I think the Roku trade has the best R:R since it clearly broke the 20 SMA and the next level range is in the box you drew. As for Square Space, I am personally going to wait until it closes above 20 SMA (also among the indices) to feel more comfortable taking the trade with that confirmation. However, your stop losses are well defined so if you and others don't mind the risk associated with it, it definitely is still worth a shot. Matter of risk appetite. General risks I see: 1. SPY (and others) may not close above 20 SMA and may be a failed breakout this week. If not, then definitely will help make these trades profitable. 2. As you aptly pointed out, there are other factors to watch for and consider as with Volatility being high right now in this bear market (imo), it could change at any time. Thanks for this post and i look forward to your other ones! I am going to take the Roku one tomorrow depending on what the opening levels are like and wait and see on the SQ and indices. I'll keep my eye out for some and post ones I find too. -Erik Share this post Link to post Share on other sites
Stevo 4 Posted January 7, 2019 (edited) 39 minutes ago, ecadaret said: As for Square Space, I am personally going to wait until it closes above 20 SMA (also among the indices) to feel more comfortable taking the trade with that confirmation. However, your stop losses are well defined so if you and others don't mind the risk associated with it, it definitely is still worth a shot. Matter of risk appetite. 1 hour ago, Stevo said: Your thought of waiting for close above 20 SMA is a good one, I'm a bit more risk tolerant on it as SQ has been good to me. It is one of the more volatile tech stocks. On the right side of it , it can be a good friend, on the bad side it can take you to hell fire, LOL. I've seen it drop .80 in about 10 seconds! I'll post how this all goes as it progresses. I'm also keeping any eye on WYNN tomorrow and this week, but I don't trade in stocks that much over $100 that often. This may be an exception. Edited January 7, 2019 by Stevo Share this post Link to post Share on other sites
Stevo 4 Posted January 7, 2019 2 hours ago, pbenci said: How did it go Stevo? ROKU hit 42.98 so i hope you got it It went huge for me. Got in at $34.90 in premarket, 1,000 shares (a calculated risk from solid study). Then added 2,000 shares at $36.76 and road those total 3,000 shares and started scaling out at 1000 at 40.50, then 1,000 @ 41.72, then 500 @ $41.50, and a final 500 to close the trade at $42.52. What helped the amazing ride was very good news I heard on Benzinga Pro after my initial entry regarding ROKU partnership with with Westinghouse for smart tv's and ROKU announcing increase in Q4 active accounts and 68% streaming increase. I added 2,000 shares when I go that on benzinga and then boku ruku! So powerful catalyst helped. I'll do a recap when I get a chance. The swing trade turned into an intraday swing, i was able to relax on the .25 to .40 or so drops on the way up. That is not hard really to do when you get a great jump out the gate. I was expecting the $40 target price level to take at least until the end of the week or much longer., but there were many reasons setting up for this to happen. So timing was blessed on this one. But I was prepared the night before and it really paid off to follow the premarket action and be on point for this "dayswing" trade. I started analyzing it at 4:30am. I anticipated a strong risk to reward, but this far exceeded my expectations in terms of speed to get to target price. Share this post Link to post Share on other sites
Brian Pez 28 Posted January 8, 2019 Great swing trades on ROKU and SQ. I had some shares of SQ from Friday but missed the ROKU move except for a day trade scalp. SQ could run a little more but will likely see some resistance around 63 if it gets there. Another trader in the room (Angel) had a great trade on GE. Picture perfect set up on a daily double bottom. Share this post Link to post Share on other sites
Stevo 4 Posted January 8, 2019 (edited) Hi Brian, Thanks and great job Angel. I still have shares of SQ on a swing trade as well. Looks strong this morning gapped up 2.8% so far in premarket. I'm gonna be looking at the action on it now and at openng and may go long at the best opening I can get at hopefully some opening sell off premarket profits. I'll be paying close attention to the time 20 minutes before open and 3 minutes after opening. I alsp took a small portion of APPL before close yesterday. I'm a currently a tech stock focused trader, but going to be learning alot about sector swing trading with ETF's, inverse ETF's, etc. And doing some hedging strategies at certain times of volatility. Cheers! P.S. the way thing are looking in overall premarket SQ should hit 65 Edited January 8, 2019 by Stevo Share this post Link to post Share on other sites
ecadaret 14 Posted January 8, 2019 I am kicking myself for not taking the Roku trade yesterday as i was doing my first day day trading the sim. I got to work on multitasking. Great set ups Stevo. I would be so proud! Share this post Link to post Share on other sites
Brian Pez 28 Posted January 8, 2019 We have had a great run on a number of stocks but I am feeling the need to get a little defensive because we have had such a nice bounce in the market and getting back to some previous support on a number of stocks. SQ hit my target today so took the rest off at open. Might go higher to 65 but I am happy hear. Hopefully you exited all ROKU. That was a big drop today. AAPL could be turning here and might be worth a starter position....but it has not broken the downward sloping trend line drawn off the candle tops. Share this post Link to post Share on other sites
Stevo 4 Posted January 9, 2019 18 hours ago, Brian Pez said: We have had a great run on a number of stocks but I am feeling the need to get a little defensive because we have had such a nice bounce in the market and getting back to some previous support on a number of stocks. SQ hit my target today so took the rest off at open. Might go higher to 65 but I am happy hear. Hopefully you exited all ROKU. That was a big drop today. AAPL could be turning here and might be worth a starter position....but it has not broken the downward sloping trend line drawn off the candle tops. I did fully exit ROKU at the end of the run, but boy I wish I could have shorted it yesterday, but Speedtrader did not have any shares to short. Have a great day, today looks like a Long day, money coming into the equities it looks like, but you never know until the day over. I still Swing Long on SQ, hoping it continues up, so far looks strong in premarket. Cheers. Share this post Link to post Share on other sites
Brian Pez 28 Posted January 9, 2019 Another good day for SQ on Wed. Pot stocks back in favor and holding some long. Agree that the market is getting close to a level of resistance. Also market seems to sell of into around 10:30 then heads higher....good time to look at taking a swing trade entry. Share this post Link to post Share on other sites
Stevo 4 Posted January 10, 2019 (edited) 16 hours ago, Brian Pez said: Another good day for SQ on Wed. Pot stocks back in favor and holding some long. Agree that the market is getting close to a level of resistance. Also market seems to sell of into around 10:30 then heads higher....good time to look at taking a swing trade entry. I am all out as of this morning on SQ swing. It was a good run. I'm not that familiar with the pot stocks, just the product (LOL), I have alot to learn to expand my swing trade reach with ETF's etc. That will happen over this new year. Thanks for the heads up on sell of possibility around 10:30am, I'll be watching. Might take day off and just watch, I've been going like a freight train at this for the last week, in particular , need a breather to do more research. Right now my trading revenue is about 80% from swing trading and 20 from day trading. I'd like to balance that out more this year. But both disciplines are like separate entities, but they synergize with each other. Edited January 10, 2019 by Stevo Share this post Link to post Share on other sites
Stevo 4 Posted January 11, 2019 On 1/8/2019 at 7:19 PM, ecadaret said: This is magic Steve! Absolutely great job! Hey escadaret, I updated the chart for the roku trade to correctly list profit amount which I had wrong after reviewing my broker statement. The new chart is at the top of this thread. Can you delete the outdated chart you quoted when you get a moment. Thanks and best wishes in 2019! Share this post Link to post Share on other sites
ecadaret 14 Posted January 12, 2019 Stevo, sure thing. Just did. Still impressive profit from that excellent trade! Share this post Link to post Share on other sites
