BDTX Trade on Jan 11, 2022 07:02 from BanalityOfEvil: Tradervue User Stock Trades.

BDTX – PREMARKET BREAKING NEWS SCALP WITH MOMO POTENTIAL – (17.25)

THIS WAS NEVER A GOOD LONG SETUP, WOULD HAVE BEEN A GREAT SHORT PLAY BUT SYMBOL WAS ALREADY UNDER SSR

@ 6AM
Black Diamond Therapeutics shares are trading higher after the company announced FDA allowance of the IND application for BDTX-1535, a MasterKey inhibitor of EGFR for the treatment of glioblastoma and non-small cell lung cancer.

Resistance @ 5.80, 6.50, 7.50

Jumped the gun on this news. Also overestimated this news. This was only an announcement of application. If this was a stage 3 result/FDA approval headline then this trade would have been justified.

@6am BDTX jumped from 4.50 to 5.75 on 1st 1minute candle of the day

2nd candle pulled back to 5.20, and I waited for volume confirmation to put on 150 share feeler

@6:09 price action had floundered momentarily, but reclaimed vwap @ 5.50, and I went to T1 size for this trade (300 shares)

@6.10 sold 50% with intention on re-adding after next pullback and break through 6, with intention to hold this up to 6.50 and sell 80%, leaving a runner on for potential move to 7.50 and/or hold a core into open, adding into this if it opened up, with intentions to scalp momentum on the way up at key levels.

@6:16 stock had pulled back to break the vwap and I liquidated most of the position. SHOULD HAVE LIQUIDATED FULL POSITION

@6:30 sold a little more after vwap was reclaimed @ 5.50 but volume was extremely light with majority of topping tails in past 10 minutes of consolidation.

@7:45 was still holding 100 shares, 5.20 had been holding, but was shaky and I decided to liquidate before things got out of control.