GLSI Trade on Dec 9, 2020 15:42 from beno: Tradervue User Stock Trades.

Shared by
beno

Fundamentals

-Float = 1.75M

Catalysts / News / Painting the picture

-Dec 09 2020: Announces 5 Year Data for GP2 Phase IIb Clinical Trial, Showing 0% Recurrence of Breast Cancer

Technical Analysis

-SPY pattern: Fade
-Intraday pattern: Runner
-Other notes: Epic short squeeze

Strategy / Confluence / Sizing Guide / Risk

Strategy: Birthday Boy Long (70% retrace level from epic parabolic move)
Confluence: N/a
Strike Zone: 50 - 28
Sizing (lots + emergency): 50
Risk (stop / Rs): Hold below 40

Review / Lessons Learned

Trade of the day, this setup doesn't come around often, but next time it does I'm trading it with bigger size! Only +1R due to the wide risk I but still best trade today!

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-12-09 15:42:37	GLSI	buy	$49.790	long
2020-12-09 16:00:01	GLSI	sell	$57.110	long
2020-12-09 16:00:09	GLSI	sell	$60.000	long
2020-12-09 16:00:09	GLSI	sell	$60.000	long
2020-12-09 16:00:12	GLSI	sell	$57.900	long
2020-12-09 16:00:20	GLSI	sell	$55.140	long
2020-12-09 16:01:28	GLSI	sell	$63.000	long
2020-12-09 16:01:28	GLSI	sell	$62.450	long
2020-12-09 16:01:28	GLSI	sell	$62.450	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=GLSI&trade=22522367&end=20201209160000&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=GLSI&trade=22522367&end=20201209160000&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=GLSI&trade=22522367&end=20201209160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=GLSI&trade=22522367&end=20210108&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

dpaleo

2020-12-09 21:14:06

birthday boy long lol. i like that. Helluva trade.

ninja_trader

2020-12-10 00:10:37

nice trade after news came about cancer and I saw it had a low float I was like yeah this is about to run I was in at 45 wish I would of stayed in longer

Maunauka

2020-12-10 00:57:01

Thank you for sharing nice work!!! I am curious about your trade plan. Can you share how you made these decisions ? Past birthday boys?

beno

2020-12-10 07:46:48

This setup is rare and the group I trade with has only seen this materialize 3 times (this was the 3rd). Essentially your looking to long at a support near the 70% retracement of the entire move (from morning lows to parabolic top). The key to this trade (like many trades) is volume. Typically when this happens many people blow up; but not all. If you check volume on GLSI, after it broke above 70's ish, the volume really dried up (meaning only small exchanges of shares are moving price way more). This tells me that well capitalized shorts didn't cut yet (the ones with small accounts got margin called and blew up). The well capitalized shorts will cover when price gets back down to their average, which is when the stock bounces and how the trade materializes. Typical target is a 30% retrace of the drop, which in this case for GLSI was 78.2 (it topped at 89) so this was a good one. Unfortunately for me I was in the gutter all day until this trade, so I was tempted to get out early and I did. I'll will know better for the next one!