N/a
-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
-Aug 18 2020: Rheumatoid Arthritis Drug Application Is A No-Go In Present Form / FDA declined approval
-SPY pattern: Fade
-Intraday pattern: Parabolic Fade
-Other notes: N/a
Strategy: Distribution
Confluence: N/a
Strike Zone: 66.1 - 66.2
Sizing (lots + emergency): 500
Risk (stop / Rs): 66.21
Was risking 10 cents to make 20 cents so a 2R trade. Saw the bids dropping at first so I slammed another short entry at 66.06 but it reclaimed so I stopped out of half and re added it back at 66.18, stock then proceeded to break down. Target was 65.8 which was the right structural target to have (see chart below)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-19 13:15:47 | GILD | sell | $66.110 | short |
2020-08-19 13:15:47 | GILD | sell | $66.112 | short |
2020-08-19 13:23:02 | GILD | sell | $66.070 | short |
2020-08-19 13:23:02 | GILD | sell | $66.070 | short |
2020-08-19 13:23:02 | GILD | sell | $66.070 | short |
2020-08-19 13:23:02 | GILD | sell | $66.070 | short |
2020-08-19 13:23:02 | GILD | sell | $66.070 | short |
2020-08-19 13:29:07 | GILD | buy | $66.160 | short |
2020-08-19 13:29:07 | GILD | buy | $66.160 | short |
2020-08-19 13:29:07 | GILD | buy | $66.155 | short |
2020-08-19 13:41:43 | GILD | sell | $66.180 | short |
2020-08-19 13:41:43 | GILD | sell | $66.180 | short |
2020-08-19 13:41:43 | GILD | sell | $66.180 | short |
2020-08-19 14:02:16 | GILD | buy | $65.940 | short |
2020-08-19 14:02:16 | GILD | buy | $65.940 | short |
2020-08-19 14:04:48 | GILD | buy | $65.870 | 0 |
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