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, Big Pullback
-Levels: 76, 76.5, 77, 77.8
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test short of 77 level
Confluence: Prior Close, Whole $
Strike Zone: 77 - 77.10
Sizing (lots): 4
Risk (stop / Rs): Hold above 77.10
Review / Lessons Learned
Still didn't get to full size on this one (thats twice today) but also had to scratch it because SPY was breaking its recent supply trend line and was showing strength.
Lessons Learned: Always get to pre-defined size!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-14 15:03:09 | GILD | sell | $77.010 | short |
| 2020-05-14 15:03:50 | GILD | sell | $77.010 | short |
| 2020-05-14 15:04:05 | GILD | sell | $77.070 | short |
| 2020-05-14 15:04:05 | GILD | sell | $77.070 | short |
| 2020-05-14 15:04:05 | GILD | sell | $77.070 | short |
| 2020-05-14 15:04:05 | GILD | sell | $77.070 | short |
| 2020-05-14 15:04:05 | GILD | sell | $77.070 | short |
| 2020-05-14 15:06:41 | GILD | buy | $76.960 | short |
| 2020-05-14 15:08:00 | GILD | buy | $76.996 | short |
| 2020-05-14 15:08:00 | GILD | buy | $76.995 | 0 |
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