Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Early April: ppl been using their drug remdesivir to treat COVID-19
-April 23 2020: Leaked Chinese data claiming remdesivir drug flop / company denies and says its due to lack of participation in the trial
-April 29 2020: Reports early positive data in remdesivir studies as COVID-19 drug, China trial said opposite
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Runner
-Levels: 78, 79.5, 80, 80.50, 81
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 79.50 level
Confluence: Half $
Strike Zone: 79.59 - 79.50
Sizing (lots): 3
Risk (stop / Rs): Hold below 79.50
Review / Lessons Learned
Missed one lot but still got in with two, was waiting for a bigger bounce before taking profits, it spiked in the 79.70's but immediately stuffed and then weakness followed, I saw this then scratched the trade.
Lessons Learned: Always get to pre-defined size
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-11 11:06:51 | GILD | buy | $79.630 | long |
| 2020-05-11 11:06:57 | GILD | buy | $79.600 | long |
| 2020-05-11 11:09:28 | GILD | sell | $79.624 | long |
| 2020-05-11 11:09:28 | GILD | sell | $79.620 | 0 |
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