HZNP Swing

 

Not my usual trade, but its there. HZNP big gap back in august creating giant island. Cant quite fill the gape lower. Big vol increase as we broke lower, didnt go anywhere, made tight range with inside candles. Entry on the break higher. 

Will be a holding trade. Not a clear breakout trade here. Maybe one forms later on. 

Pretty much buying the bottom, tons of R to get through to get to a new pivot higher, 12 points out. Not impossible. Will have to really judge this if we get to 74 where last bits of R are, as well as anchvwap from August gap. 

75.50 is PT as that would fill the gap we recently had. Will have to cautious and not greedy every step of the way here. Dont let a good win turn to a loss just because I should hold. Recycle the trade if I must. 

In jan 15 75 calls. Had to chase a big, spread is wide but I want in. 

Moving well to start the day. Gonna be  tough to add but happy I got one on. 

Pulled down slow low vol to retest prev hi and bo level. May add here if good. 

Well the one I planned on taking originally, and did get in on is doing ok, but my 2nd pick, 85s doing much better, higher vol. Will add with that. 

Finally got our bottom cues, no vol but held prev hi and bo level and turned up. Added. 

Market dumped, HZNP made nice triangle and held higher. Tested lower into prev hi and saw no vol increase.

Market getting really ugly, but we are holding strong. Very interesting position, market showing major weakness, yet we are v strong here wanting to bust out. I want to add, but under these circumstances?

Tom Dante said if the market is crashing, but your stock is trending up, you want to be long that stock. I want to be long this stock given its strength.

Tested above vwap and broke out, added. Will keep this small though, it has been given enough time now that it needs to go and not come back. If it comes back and breaks lower I will be all out. 

Good close, super low vol but good action today, held levels very well. Buyers were there. Keep holding, long way to go. Broke TL and stuck it. Good start to the trade. All out holding under prev low. Should be due for plenty of recovery. 

2nd day

Gapped higher v well, had good start, slowly giving it all up as market tests lower from this gap. 

Big vol increase down here, still above HTF zone to hold above, but not great looking situation here. Market still weak, not seeing any big pbs here in HZNP. 

Is at turning point now. market strong, big vol increase, above HTF zone. Tight triangle breakout, MAs coiled under, needs to rip above vwap and move higher. 

Broke above into vwap, no vol. 

And nothing happening, just sideways. 

After half an hour, finally popped higher on low vol. 

After 3 hours, finally breaking higher out of range, If really is going ot be strong name, should see more continuation as were still quite low in VA. 

Super strong closing action. Call vol picked up too. Looks clear to star the gap fill at 71.25 tomorrow, with this much strength into close, wondering if we get a gap up.

Clear stop hold under 69.50 if it happens, will take profits on weakness if we gap above tomorrow, if not will take some on break of it. 

3rd

Open was v strong, broke into gap fill, but failed and rolled over lower. Took off one to cover some risk. Still holding majority. 

Found bottom with big vol increase just under prev close. Have to wait for bigger pb. May cut more. 

Cut my secondary more OTM calls off. Took small hit on them. Not trying to lose money on this we should have been gone and market is not helping at all. 

Lost my exit point, last bits remain on, will wait to see what pb looks like if ill bail all or not. 

All out on major market sell.