SPCE Trade on Feb 15, 2022 08:20 from BanalityOfEvil: Tradervue User Stock Trades.

SPCE – Premarket Core Builder with Opening Drive, possible T2H

SPCE 7:59:59AM
VIRGIN GALACTIC ANNOUNCES TICKET SALES WILL OPEN TO GENERAL PUBLIC STARTING FEB. 16

Trade Idea
SPCE could reach $10 on the opening drive, possible move to 11
Setup Quality – B

Big Picture
SPCE gapping up in 11% premarket over $9. Long term resistance at 10 and 11.
Earnings to be released on Feb 22nd. News of public ticket offerings hit feeds this morning.
Float 209M
Short Float 21%
ATR (.70)
RVOL in premarket is elevated, expecting high RVOL on the open
RVOL 11x on open
2nd volume leader in premarket @ 8:30am, holding 9$ and consolidating
2nd leading volume gapper under IPW, 4th leading gapper @ 8:30am

Plan
Establish a feeler 100 shares in premarket, hold into the open with no add, wait for support to materialize, and get long up to 500 shares max size.
Scale out into strength, adding back to full size if momentum is present, selling 80% near target into strength, holding 20% runner to higher levels.
If holding all day and Price closes higher than open on big volume, then hold runner size overnight for a gap swing.

Executions
@8:20 established 100 share feeler as price has reclaimed vwap and holding above 9
@9:29 offers are stacking at 9, max stop on feeler is 8.50
@10:18 sold feeler position. I know that SPCE can be a slow mover, and I was more interested in the technical and sympathy play in KAVL. SPY is holding steady around 444 but VIX is elevated, the float on SPCE is high, and the tape is moving very slow. Not interested in holding this all day.

Key Takeaways
Pay closer attention to ideas that work immediately. Consider shifting additional attention to these instead of trying to watch 3 or 4 stocks at a time. This will allow you to allocate capital more efficiently and size up if appropriate.