Shared by
beno
Fundamentals
-Float = 144M
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
-Jul 16 2020: New CEO / old Disney parks CEO
-Dec 14 2020: Test flight failed, rocket engine failed startup sequence.
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Bear Flag
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: B grade distribution of 24.5 floor
Confluence: Half $
Strike Zone: N/a
Sizing (lots + emergency): 500
Risk (stop / Rs): TL break or 24.5 reclaim once broken
Review / Lessons Learned
Took many cuts on this one but it was a worthy attempt, tape looked weak each time but big buyer ended up saving it. -1R total on 4 attempts (-0.25R per attempt, not bad).
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-12-15 14:06:28 | SPCE | sell | $24.570 | short |
| 2020-12-15 14:06:31 | SPCE | sell | $24.570 | short |
| 2020-12-15 14:07:07 | SPCE | buy | $24.650 | short |
| 2020-12-15 14:07:07 | SPCE | buy | $24.660 | 0 |
| 2020-12-15 14:18:20 | SPCE | sell | $24.570 | short |
| 2020-12-15 14:18:20 | SPCE | sell | $24.570 | short |
| 2020-12-15 14:26:23 | SPCE | sell | $24.540 | short |
| 2020-12-15 14:26:23 | SPCE | sell | $24.540 | short |
| 2020-12-15 14:32:52 | SPCE | buy | $24.580 | short |
| 2020-12-15 14:32:52 | SPCE | buy | $24.580 | short |
| 2020-12-15 14:32:52 | SPCE | buy | $24.580 | short |
| 2020-12-15 14:33:12 | SPCE | buy | $24.610 | short |
| 2020-12-15 14:33:12 | SPCE | buy | $24.610 | 0 |
| 2020-12-15 14:52:33 | SPCE | sell | $24.550 | short |
| 2020-12-15 14:56:19 | SPCE | buy | $24.540 | 0 |
| 2020-12-15 14:59:17 | SPCE | sell | $24.420 | short |
| 2020-12-15 14:59:17 | SPCE | sell | $24.420 | short |
| 2020-12-15 14:59:17 | SPCE | sell | $24.420 | short |
| 2020-12-15 15:00:22 | SPCE | sell | $24.450 | short |
| 2020-12-15 15:00:22 | SPCE | sell | $24.450 | short |
| 2020-12-15 15:00:50 | SPCE | buy | $24.510 | short |
| 2020-12-15 15:00:50 | SPCE | buy | $24.510 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!