Shared by
beno
Fundamentals
Shares Outstanding: 54,815,202
Cash: $345.1m
Current liabilities: $111.36m
Current ratio: 3.75
NWC (total current assets - total current liabilities): $307m
Monthly Burn rate (net loss / months): $33.43m
Estimated current cash: $295m
Accumulated deficit: $2144m
Book value per share (Stock holder equity / Shares outstanding): $-1.6
Technical Analysis
-Consolidation below day 2 high
-Broke level, 6.2 became over/under with 5.25 as next over/under level
-Huge run up then bounced from 6.2 level, closed strong
-Important levels are 5.25, 5.9, 6.2, 6.66 and 6.8
Catalysts / News
-Earnings: Q3 loss but beat on revenues
Original Plan / Strategy
Broke that 6.35 line in the sand so I thought it was the backside and went for the short.
Review
Risked too much on this trade, should have risked 6.45 instead of 6.55. Also wasn't paying attention to volume, volume was picking up so I got run over by the train.
Lessons learned:
1. Keep an eye on volume and incorporate it into decision making!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-11-13 14:36:33 | CLVS | sell | $6.420 | short |
| 2019-11-13 14:37:28 | CLVS | sell | $6.450 | short |
| 2019-11-13 14:37:41 | CLVS | sell | $6.470 | short |
| 2019-11-13 14:43:14 | CLVS | sell | $6.490 | short |
| 2019-11-13 14:43:19 | CLVS | sell | $6.500 | short |
| 2019-11-13 14:44:00 | CLVS | buy | $6.570 | short |
| 2019-11-13 14:45:36 | CLVS | buy | $6.610 | 0 |
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