Shared by
beno
Fundamentals
New company focused on long term growth in space exploration, no revenues, pure speculation.
Catalysts / News / Painting the picture
-Recent Conference news
-Up swing fueled by below Dec 10 2019 Morgan Stanley comments:
-Morgan Stanley Bullish On Virgin Galactic, Says Space Tourism Is Incubator For Hypersonic Travel
Technical Analysis
-Stock had huge $10 range today
-Backside is in today
-Levels: 29.50, 32, 33, 33.50, 35, 37
Original Plan / Strategy
First Test long of 34.8 by 34.5 support zone
Review
My starter was too large with 150 shares compared to my adds down to the 34.50 level. Was to top heavy in the trade.
I'm disappointed in how I managed the trade, took profits way to early for how far it had pulled back.
Lessons Learned:
1. WHEN SCALING ON ENTRY, GO FROM SMALL LOTS TO BIG LOTS, DON'T USE BIG STARTERS!
2. DON'T TAKE PROFITS TO QUICKLY, ACTUALLY TARGET AN AREA WHERE YOU WOULD LIKE TO PROFIT AND PLACE FANTASY PROFIT ORDERS!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-02-18 11:16:40 | SPCE | buy | $34.810 | long |
| 2020-02-18 11:16:40 | SPCE | buy | $34.760 | long |
| 2020-02-18 11:16:45 | SPCE | buy | $34.710 | long |
| 2020-02-18 11:16:46 | SPCE | buy | $34.700 | long |
| 2020-02-18 11:16:50 | SPCE | buy | $34.520 | long |
| 2020-02-18 11:16:56 | SPCE | buy | $34.640 | long |
| 2020-02-18 11:17:37 | SPCE | sell | $34.788 | 0 |
Comments
beno
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Great info on this trade and great journal layout. I think i will incorporate into mine.