Long $VIPS Day 23 Analysis

Today was a good call from yesterday’s game plan. Just as predicted, it fell through the bottom of the channel and went to a low of $11.04, pretty close to $11.00. It made a nice come back to close relatively strong at $11.44. However, I did use that closing strength to sell about 40% of my position.

Weekly Scorecard
CostCloseChangeTargetHighTarget%
$10.90$11.445%$12.80$12.5084%
I sold 40% of my position this week which changes my cost.

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Long $VIPS Day 18 Analysis

Today was a good call from yesterday’s game plan. I was hoping it would be a bigger move up, but we did end the week with a nice hammer. The sign of strength I was looking for.

Weekly Scorecard
CostCloseChangeTargetHighTarget%
$10.60$11.8312%$12.80$12.5086%
I think my target was too aggressive and I missed a long legged doji sign of the trend reversing. As a result I held the trade thinking I would get my target this week and instead, per the doji, the trend reversed and I got stuck in the pullback. However, the pullback was low weekly volume so I don't think it was very significant. Maybe just a low volume test of supply.

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