Shared by
beno
Fundamentals
Profitable Building Material company in Canada. Makes face masks.
Catalysts / News / Painting the picture
-Corona virus sympathy because APT makes masks
-US to order 1 billion masks
-March 11 2020: WHO declares COVID-19 as pandemic
-April 02 2020: US says will not force people to wear masks
-May 06 2020: Earnings - Q1 up 46% Q/Y - PPE numbers good
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Runner
-Levels: 13.7, 14.5, 15, 16.4, 17
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 15.5
Confluence: Half $
Strike Zone: 15.4 - 15.57
Sizing (lots): 2
Risk (stop / Rs): Hold below 15.50
Review / Lessons Learned
Got to appropriate size but CODX had just gotten some negative news (Nebraska terminate $27 million contract) and was tanking hard, to play it safe I scratched the trade in case this news would cause other CV's to start selling off.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-14 13:23:32 | APT | buy | $15.570 | long |
| 2020-05-14 13:24:03 | APT | buy | $15.460 | long |
| 2020-05-14 13:24:03 | APT | buy | $15.460 | long |
| 2020-05-14 13:25:13 | APT | sell | $15.560 | long |
| 2020-05-14 13:25:20 | APT | sell | $15.550 | long |
| 2020-05-14 13:25:20 | APT | sell | $15.544 | long |
| 2020-05-14 13:25:20 | APT | sell | $15.544 | 0 |
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