Gravatar

Shared by
Cklamb

 

GILD

Feb 3, 2020 10:09


Tags:

Momentum Short

GILD
Total gain/loss: $241.09 Largest gain: $169.15 (show)

Average daily gain/loss: $241.09 Largest loss: $-29.23 (show)

Average daily volume: 13980 Average per-share gain/loss: $0.03
Average winning trade: $31.01 Average trade gain/loss: $18.55
Average losing trade: $-9.50 Trade P&L standard deviation: $48.49
Total number of trades: 13 Profit factor: 7.34
Number of winning trades: 9 (69.2%) Average hold time (winning trades): 4 minutes
Number of losing trades: 4 (30.8%) Average hold time (losing trades): 5 minutes
Max consecutive wins: 3 (show)
Max consecutive losses: 1 (show)

Average position MFE: $26.19 Average position MAE: $-23.20

Intraday Fundamentals
https://www.bloomberg.com/news/articles/2020-02-01/coronavirus-case-treated-with-gilead-drug-may-spur-wider-tests
• 04:11 AM EST, 02/03/2020 (MT Newswires) -- California-based Gilead Sciences (GILD) said Friday it is working with health authorities in China to establish a randomized, controlled trial to determine whether its drug, remdesivir, can safely and effectively be used to treat the novel coronavirus, or 2019-nCoV.
• The company is also expediting appropriate laboratory testing of remdesivir against 2019-nCoV samples, Chief Medical Officer Merdad Parsey said in the press release.
• Gilead provided remdesivir for use in a small number of patients with 2019-nCoV for emergency treatment in the absence of any approved treatment options, and at the request of treating physicians, and with the support of local regulatory agencies.
• Remdesivir is not yet licensed or approved anywhere in the world and has not been demonstrated to be safe or effective for any use. At present, there are no antiviral data for remdesivir that show activity against 2019-nCoV.
• However, Gilead said the drug demonstrated in vitro and in vivo activity in animal models against the viral pathogens MERS and SARS, which are coronaviruses that are structurally similar to 2019-nCoV. The company added that limited clinical data are available from the emergency use of remdesivir in treating patients with Ebola virus infection.
Technicals
ADV 7.42 m RVOL 1.54 ATR 1.10 BETA 1.21 Short 1.41% Inst Own 84.10%
Daily

Hourly

Intraday

Trading Strategy
• Look for longs if this holds above 68 look for shorts to the gap fill if not
• VWAP tests and Momentum plays
Reading the Tape
As usual, I was not really able to pick any single large orders that I think were impactful. But, the earliest morning runs were easy and follow. The tape did help me add into the largest scalp of the day after .75 held several times with even quicker rejections of .80 prior
Trade Management

Trade Notes
• I felt pretty comfortable shorting this off 68. I had this laid out in the game plan and really should have been bigger consider how pronounced the resistance level had looked as I prepped for it this morning.
• I turned around and played the long off of 67 before I had a little bit of positive momentum to start. I was still pretty small for the opening. But, this was a well managed bounce play that would have been very effective sized up a little more.
• I went back to the short side and sized into this as is worked back up to VWAP. I worked out of it as it came back down and cleared the last at67.73 after it bounced off .60
• I played this to break and hold VWAP. I was looking for a lower high but much closer to 68 at the time.
• I really like this setup. It was easy to manage. But, I took the partial to quickly while trying to keep the small gains that I already had.
• I hacked at this trade looking for quick run back 67. I missed the initial run and started to tray and push the issue. I did tap out. But, there were better opportunities to flatten. I just a got a little greedy here. But, the price action convinced I should not trade this long unless it was basing above VWAP.
• The tight spread, the weak tape and the lower highs I felt that this had more downside. I started big, with a commitment to get bigger looking for .50 to break. It would have been nice to get the run with out having to let it trade against me. I did fight for price and ended up with better average. I needed to be a little less eager to take off parts as it broke .50
• Small attempt to take a bounce off 66
• I was way late to this was able to make up by clearing the first run and shorting as it work back up to .75. I walked away as I realized this was not looking like it was going to give way at 65.50.
• A little late to this. The tape was weak and made it easy to chase and take a quick partial to cover the extra risk
• I followed with a long after a strong hold of 66.25. I held this trade into VWAP.

The tight spread, the weak tape and the lower highs I felt that this had more downside. I started big, with a commitment to get bigger looking for .50 to break. It would have been nice to get the run with out having to let it trade against me. I did fight for price and ended up with better average. I needed to be a little less eager to take off parts as it broke .50


Execution detail:

Date/time Symbol Side Price Position
2020-02-03 10:09:52 GILD sell $66.580 short
2020-02-03 10:10:09 GILD sell $66.615 short
2020-02-03 10:10:19 GILD sell $66.695 short
2020-02-03 10:10:24 GILD sell $66.680 short
2020-02-03 10:11:09 GILD buy $66.630 short
2020-02-03 10:11:11 GILD buy $66.629 short
2020-02-03 10:11:21 GILD sell $66.595 short
2020-02-03 10:11:21 GILD sell $66.595 short
2020-02-03 10:11:21 GILD sell $66.595 short
2020-02-03 10:11:21 GILD sell $66.595 short
2020-02-03 10:11:32 GILD buy $66.637 short
2020-02-03 10:11:34 GILD buy $66.644 short
2020-02-03 10:11:37 GILD buy $66.670 short
2020-02-03 10:11:41 GILD buy $66.710 short
2020-02-03 10:11:51 GILD sell $66.710 short
2020-02-03 10:11:53 GILD sell $66.705 short
2020-02-03 10:11:57 GILD sell $66.680 short
2020-02-03 10:12:00 GILD sell $66.670 short
2020-02-03 10:12:26 GILD buy $66.567 short
2020-02-03 10:12:29 GILD buy $66.574 short
2020-02-03 10:12:34 GILD buy $66.520 short
2020-02-03 10:12:36 GILD buy $66.508 short
2020-02-03 10:12:39 GILD buy $66.505 short
2020-02-03 10:12:42 GILD buy $66.443 short
2020-02-03 10:13:20 GILD buy $66.390 short
2020-02-03 10:17:39 GILD buy $66.150 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in