134.75M float/5.00% short of float/96.50% institutionals
playbook:up almost 50% on "good results in Phase 1b trial" for a drug against a rare disease. I honestly don't want to develop a bias, but I doubt this PR justifies the value of the company going up 50% over night. We could see some momo, but it's not a low floater either. I will be aware of the institutional seller on the tape.
Stop: 24.80$
R: 0.8
After the obvious morning momo bash, stock tried to get above 25.00 and failed three times. then it flushed. I got in at the retracement to the .70s with stop above breakdown level. Stock blasted through my entry price, but there were just too many trapped longs around .80
My target was LOD, but it got bought up very quickly, so I had to close.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-01 13:24:50 | DYAX | sell | $24.670 | short |
2015-04-01 13:41:48 | DYAX | buy | $24.590 | 0 |
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