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Sep 10, 2019 13:48

Shares traded: 100
Closed Gross P&L: $23.31


Long VWAP Support Play

Intraday Fundamentals(Second Day)
• Shares of Acadia Pharmaceuticals Inc. (ACAD) rocketed 87% toward a 4-year high in premarket trading Monday, after the biopharmaceutical company said a phase 3 trial of its treatment for dementia-related psychosis met its primary endpoint. The company said pimavanserin achieved "robust statistical superiority" over placebo, with longer time to relapse of psychosis with pimavanserin compared with placebo. Acadia said the study will be stopped early based on the study's findings. The company plans to meet with the Food and Drug Administration regarding a supplemental new drug application (NDA) submission in 2020. The stock, on track to open at the highest price seen during regular-session hours since August 2015 , has run up 47.2% year to date through Friday, while the iShares Nasdaq Biotechnology ETF (IBB) has gained 6.0% and the S&P 500 has advanced 18.8%.
ADV 1.3 m RVOL .81 BETA 2.75 ATR 1.29 Short 8.93% Inst Own 98.5%

Trading Strategy
• Look for longs if this holds over 40
Reading the Tape
I watched this and saw a distinct change in the velocity of bidders hitting the t&s on both entries. The tape stop at 41.20.
Trade Management

Trade Review
• This was a late day attempt to get in on trend continuation off VWAP. The initial trade worked real well as the scalp I was looking for
• I simply was not big enough in this trade
• The tape was good and the setup of VWAP was solid for and a set up that I need to set more alerts for.
• Aspect Score Poss. Notes
Preparation 7 10 I had prepped for this yesterday and spent some time watching this yesterday
Hard Work 9 10 This trade was there or it was not
Patience 8 10 This was a trade to take or leave

Plan 8 10 Yes. Hold to 41 and 6 cents of risk
Discipline 8 10 Yes
Contribution NA 10

Replay 0 10

Execution detail:

Date/time Symbol Qty Price Position
2019-09-10 13:48:09 ACAD 50 $40.748 50
2019-09-10 13:53:11 ACAD -50 $41.214 0

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