Shared by
beno
Fundamentals
New company focused on long term growth in space exploration, no revenues, pure speculation.
Catalysts / News / Painting the picture
-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
-SPCE has caught the eyes of many traders lately, also been in the news as the stock to beat TSLA's run
-May 05 2020: Earnings - strong cash position, more then $400m in cash, no meaningful revenues, still growth company
-May 06 2020: CEO on TV
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Runner
-Levels: 15.2, 15.8, 16, 16.5
Strategy / Confluence / Sizing Guide / Risk
Strategy: FT-15 short of 15.8 level
Confluence: Gap Fill, Prior Close
Strike Zone: 15.74 - 15.9
Sizing (lots): 4
Risk (stop / Rs): Hold above 16
Review / Lessons Learned
Disappointed in myself with this trade. Didn't like the consolidation in the morning so that made me uneasy. When PA got into my strike zone I was reluctant to add, only got to half size. Covered what I had right before the drop...
Lessons Learned: Get to full size by using self talk; remember why you're taking the trade in the first place!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-03 09:54:50 | SPCE | sell | $15.780 | short |
| 2020-06-03 09:54:51 | SPCE | sell | $15.780 | short |
| 2020-06-03 09:54:51 | SPCE | sell | $15.780 | short |
| 2020-06-03 09:56:00 | SPCE | sell | $15.840 | short |
| 2020-06-03 10:01:35 | SPCE | buy | $15.800 | short |
| 2020-06-03 10:01:35 | SPCE | buy | $15.800 | short |
| 2020-06-03 10:03:01 | SPCE | buy | $15.750 | short |
| 2020-06-03 10:03:01 | SPCE | buy | $15.750 | short |
| 2020-06-03 10:03:50 | SPCE | buy | $15.770 | short |
| 2020-06-03 10:03:50 | SPCE | buy | $15.770 | 0 |
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