m22au's journal

Handle123 said:
If I can't hedge an instrument, I don't trade that instrument in timeframes over 29 minutes. And how much you can make in any symbol does not make it right, as the losses can be staggering in my views.

Am glad you doing well.
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I'm curious then - what types of trades (for a timeframe over 29 minutes) do you place if you are unwilling to take directional exposure? ie. what markets and what instruments in those markets?

Rather than choosing to not take directional exposure - would you consider taking directional exposure with a small position size?

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1. RLMD 80.86% increase in pro-forma market cap
https://finance.yahoo.com/quote/RLMD?p=RLMD

RLMD big move up on October 15
https://seekingalpha.com/news/35057...s-1017-data-in-treatment-resistant-depression

closed at $24.95 on Monday November 18.
Went up for 10 straight sessions, to close at $34.46 on Tuesday December 3.

Market cap as at December 3:
10,383,417 * $34.46 = $357.812 million

PR at 4.10pm that day:
"Relmada Therapeutics Announces Proposed Public Offering of Common Stock "
https://www.prnewswire.com/news-rel...ublic-offering-of-common-stock-300968644.html

Pricing announced less than 7 hours later:
"Relmada Therapeutics Announces Pricing of Public Offering of Common Stock "
https://www.prnewswire.com/news-rel...ublic-offering-of-common-stock-300968842.html

3,333,334 shares @ $30.
30-day option to sell another 500,000 shares at $30.

Offering expected to close on Friday December 6.

Prospectus supplement
https://www.sec.gov/Archives/edgar/data/1553643/000121390019025209/f424b5120219_relmadathera.htm

10,383,417 shares of our common stock outstanding as of December 2, 2019


Stock opened near the intraday low at $38.22, closed 36.91% higher at $47.18

New share count including the new shares:

10,383,417 + 3,333,334 = 13,716,751

at share price of $47.18

pro-forma market cap as at December 4 was $647.156 million

market cap as at December 3 was 10,383,417 * $34.46 = $357.812 million

(pro-forma) market cap increase in one day: 80.86%

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2. KOD 67.10% increase in pro-forma market cap from Monday to Wednesday
https://finance.yahoo.com/quote/KOD

10-Q for September 30 quarter
https://www.sec.gov/Archives/edgar/data/1468748/000156459019042887/kod-10q_20190930.htm

37,058,168 shares outstanding as at October 31.

Stock closed at $29.60 on Friday November 29

Positive news before the open on Monday December 2
https://seekingalpha.com/news/35228...-ksiminus-301-to-baker-bros-advisors-for-225m

Stock closed at $51.05 on Monday December 2.
Market cap 37,058,168 * $51.05 = $1.891 billion

At 5pm that day, company announced its plan to sell $250 million of stock (plus option to sell another $37.5 million)
https://www.prnewswire.com/news-rel...posed-offering-of-common-stock-300967717.html

Stock closed at $49.20 on December 3.

Later that evening at 9.07pm the company announced pricing:
https://www.prnewswire.com/news-rel...ublic-offering-of-common-stock-300968783.html

6 million shares @ $46.00
option to sell another 900,000 shares

Offer expected to close on Friday December 6.

On Wednesday December 4, stock closed up 49.21% at $73.41

Pro-forma share count is 37,058,168 + 6 million = 43,058,168

Pro-forma market cap using new share count:
43,058,168 * $73.41 = $3.160 billion

(pro-forma) market cap increase from Monday December 2: 67.10%

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