New company focused on long term growth in space exploration, no revenues, pure speculation.
-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
-Jul 16 2020: New CEO / old Disney parks CEO
-Dec 14 2020: Test flight failed, rocket engine failed startup sequence.
-SPY pattern: Fade
-Intraday pattern: Parabolic Fade
-Other notes: N/a
Strategy: B grade Distribution against 26.5 floor
Confluence: Half $
Strike Zone: N/a
Sizing (lots + emergency): 500
Risk (stop / Rs): 26.7
SPY was weak so though it was gonna go, but its B grade due to sub-floor. -1R, it wasn't ready to unwind.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-14 14:42:23 | SPCE | sell | $26.510 | short |
2020-12-14 14:44:28 | SPCE | sell | $26.600 | short |
2020-12-14 14:44:28 | SPCE | sell | $26.600 | short |
2020-12-14 14:44:28 | SPCE | sell | $26.600 | short |
2020-12-14 14:44:40 | SPCE | sell | $26.600 | short |
2020-12-14 14:44:40 | SPCE | sell | $26.600 | short |
2020-12-14 14:45:06 | SPCE | buy | $26.710 | short |
2020-12-14 14:45:06 | SPCE | buy | $26.710 | short |
2020-12-14 14:45:06 | SPCE | buy | $26.710 | short |
2020-12-14 14:45:06 | SPCE | buy | $26.710 | short |
2020-12-14 14:45:06 | SPCE | buy | $26.700 | 0 |
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