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BHC opened lower and went down to 8.26 before climbing back up throughout the day to a high of 8.52
BLCO @ 18.80
BHC traded 8.71 down to 8.31 with a 8.41 close...The 50 DMA is 8.33 so it might be a bounce off the 50 DMA but I'm thinking it will test the 200 DMA currently @ 7.72 and if that breaks then 7.50-7.10 before any climb back up to 8. The old trading range but who knows. We could try and test 9 but if it doesn't run then Head and Shoulders will form. As Billy Idol says...Dancing with myself uh oh uh ohhoo
Today so far we opened higher @ 8.93 and then fell to 8.60 so probably some consoladating before the next move. Would love to day trade it but my TDA says one more round trip in the 5 day window and they'll label me that even though I've got a lot more than 25K so...oh well.
If you take out that May to June on the chart it looks like a massive cup and handle forming but that dip to under 6 and rip to above 8 probably affects it but I don't know as it's all my WAG IMO. =P
BHC 8.90 close 8.52 low with 8.95 high later...I traded it for a few pennies near the low but had to move some furnishings and wasn't trusting the overall market to not keep an eye on my 'flippers' Made enough to pay the movers, Uhaul and gas so that's great.
I'm looking at the chart and it looks like we could break out and make a new 52 week high but if we only go up a little bit for a few days then that could also be the right shoulder of a Head and Shoulders pattern. Got my core either way and a few calls I got cheap today when BHC was trading near the lows but others got cheaper. lol
Massive volume on the Aug 18th 9 calls. Over 10K with 27K already opt interest.
Also Sept 15th 8 calls with over 15K and almost 27K op int...
This one is going to make a move soon but I can't tell which way from that chart so I might have to wait until a 'pattern' emerges again. GL
BLCO 18.60 close with 18.14 to 18.85 range...
In 2 days we popped to 10.15 and dropped below 9 so...NAILED IT!!! lol
How low can we go?!? 8.50 or 7's?
Fridays action saw BHC trade between 9.54 early all the way down to 8.96 with a 9.06 close.
BLCO closed 18.63 and was a dollar higher early day trading...
Looks like were going back down but is it going to be a higher trading 'pattern' like 8.50 to 9.50 or the past lower one... Been flipping and have a core and holding a lot of dry powder as overall markets could get rocky for a bit but who knows...
BHC popped to 10.15 and in about 5 min went down to 9.5 so we will see where the day ends.
BLCO went below 18.50 so that makes sense
BLCO poped then dropped too...I suspect BHC will do the same with BHC trading today between 9.25 and 9.51 with 9.33 close...
BLCO closed @ 18.91 and traded as high as 20.30 and low of 18.70
DOW down 348 and S&P down 63
MRK, PFE and VNDA popped and dropped on earnings...BHC has a hard time staying above 10 until it finally doesn't.
Is this a massive inverse head and shoulders pattern?!? I'd say you have to squint as it's a bit jagged but if so I'd venture a guess that the 'head' looks like 5.75 in May 2023 and the neckline squinting is 9.50's or so. So if it is then 9.50 - 5.75 is 3.75 and looking at a graph I googled from personal finance lab the 'throwback to target would then be a PPS of 13.25...This is all IMO and probably total BS but it is interesting as I've always thought the sell off was overdone and even @ 15 it's still undervalued but will take time to prove that. I'd assume if BHC did breakout that we hadn't stayed above 10 much since the IPO disaster so maybe that 10 ceiling becomes a floor?!? If broken then not for long type of thing like we had here before. Hummm
BHC 9.35 to 9.69 range today with 9.58 close.
I was hoping for a pull back before ER to load up but we could easily go down unless we have an incredible ER/announcement like BLCO shares which are currently 19.74
At some point I think we are much higher but when I don't know. Would be nice to start a higher PPS pattern to trade off of.
BHC 9.21 to 9.59 range today closed at HOD 9.59
BLCO 20.20
BHC 9.32 to 9.63 range today currently 9.44
BLCO under 20
BOOYAHHHH....
POP to 9.38 over 9% currently 9.19 where I sold my Jan 24's for a nice gain. Wanted to keep it but I've got other options ready for the ER.
200DMA 7.50
50DMA 7.53 so we got a golden cross POP
I think a new 52 week high breaking 10.23 happens soon but I got a .30 premium on the Jan calls (5) when I sold and being we didn't go over that price today I'll trade accordingly and flip for freebies.
THANK YOU =)
200 and 50 DMA's are 7.49 today...Looks like the drop a before ER might be stronger with the run up the last few weeks from just above 7 is keeping us around 8.40
So 7-8.5 range...still intact until it isn't.
BLCO 20.99 up 3% today
BHC 8.40 down 1%
200 DMA 7.48
50 DMA 7.47
Golden cross tomorrow and is that an inverse head and shoulders and cup and handle?!?
Things never go the way you expect it though. lol
BLCO @ 19.68 down less than 1%
BHC jumped up Friday to 8.59 but closed 8.33 if I recall and up today 5% to 8.76 with a golden cross coming soon. I got some puts to cover in case some BS happens but...
200DMA 7.46
50 DMA 7.40
We shall see what happens and I'm ready either direction. Took some excellent profits on Friday's POP
BLCO hits 21.95 (up 9% @ 21) on buying XIIDRA from NVS
BHC jumping over 8 bucks for over 2% gain
200DMA 7.45
50DMA 7.34
19.44 for BLCO but BHC up almost 3% again to 7.85
Could be setting up a golden cross soon as 200DMA is 7.44 and 50DMA is 7.33 but who knows...Could always go down lol
BLCO down 2% to 19.36 from 52 week high yesterday of 20.19
BHC up almost 3% to 7.62
Funny is TEVA NVAX and BHC were all 7.50's range today
BLCO (19.34) short interest still says 19% but what's strange is BHC (7.19) now says 7.24% short interest but has the same 5/31 date?!? Over 66% Instit owned....traded 7.28 to 7.10 with less than 2 million shares which is the 10 day average.
BLCO 19.25 and BHC 7.45
Got those numbers from my TDAmertrade account but Marketwatch says less than 7% shorted for BHC but BLCO is still 19% Roller coaster for sure.
I was WRONG about the overall market...S&P has officially broken out of the Bear (up 20%) but BHC @ 7.19 seems to be in the same place but riding a roller coaster. With 37% Short interest I expect the roller coaster to have quite the ups and downs. lol
BLCO (18.50) short interest is 19% but BHC (7.19) is 37.22 as of 5/31....What is that like a more than 350% increase?!? No wonder Norwich sued the FDA. Somebody needed a press release to take BHC down and an investigation is needed. Is this Icahn/Ackman related?!?
I just saw BHC has 37.22 short interest as of 5/31/23?!? It was MUCH LOWER in the months before and I smell something fishy with Norwich suing the FDA. Probably helped those shorts cover or maybe this is something Icahn/Ackman related?!?
We were just over 8 bucks the other and Norwich suing FDA took us as low as 6.82 for 15% down at one point but closed 7.25 for 9% down. We are currently below 50(7.40) and 200 (7.34) DMA's and this might set up a golden cross but it's the next ER that I'm looking forward to.
Broke below 8 for a moment today but closed 8.20
Hit 8.95 Friday before pulling back into 8.30's the question is will it run off to the races or pull back into pattern. Also debt talks not going well might make major market correction...
Up over 11% to 8.33 Sweet...
Went back to 6 and under after last ER. However today's news sent BHC from 6 to 8.50 all within the trading day and closed just below 7.50...
I did very well as I had a lot expiring this week.
BHC U.S. District Court Upholds Final Judgment for XIFAXAN(R) 550 mg That Prevents FDA Approval of Norwich’s Abbreviated New Drug Application Until 2029
https://finance.yahoo.com/news/u-district-court-upholds-final-172000849.html
Happy April Fools day...Overall market has been running to finish off March. Jan up/Feb down March up and April?!? BHC went down to 7.02 but finished strong Friday to 8.10 which is where is use to break down. However on a daily chart 8.75 would cap off another 'shoulder' top a head and shoulders 'possibility.' which is bearish. Though it could keep climbing and make a 3rd mountain peak before any major retracement which takes H&S off the table if it breaks well above the 10.20's we had before. Looking at the weekly chart if it breaks or gets back to 10 it looks like a 'cup and handle' and if I recall it's 50% higher from top to bottom. So if 10 is top and 4 is bottom we could hit 13 but I'd guess 15 or close to it would be more likely on a short squeeze. BLCO is at 17.41 and 50.1% would get us close to 8.75...BLCO has 18% short interest so they expect a sell off if BHC gets shares. BHC's short interest is less than 8%...
So this can still go either way and I 'adjusted accordingly' as I'm sure there's a way more savy investors have been playing these two. I'm not savy, just watching, learning and reporting. =)
Just hit 7.25 and overall market looks like it wants to go down for a while. Chart broken below averages and this could fly on news or keep inching down. Low volume doing it's slow drop down. Cash is KING and god luck.
7.52 so gap filled. However overall market looking really bad so might go back to 6....
BHC hit 7.87 Friday so looks like the gap filling will happen next week if no news. Traded some SIVB 35 buy/37 sell (500 shares) before it got halted in the pre-market and it had a under 35 above 37 pattern for a few times before they halted it. Going to be an interest week next week with the 16th largest bank currently and I read 2nd biggest to be seized (WaMu/Lehman?)
I see it possibily creating that 25% or more crash or we go up thinking the FED goes quarter point. Though BHC broke out of it's old trading range 6-7.50 it could easily not find it's new trading range with an overall market correction. Trade accordingly
4 years later and I'm still talking to myself. Oh and replying LOL Digging up old info just in case it's needed.
The old 22-26 range...This stock sure does like finding trading ranges. =) I remeber one time it decided to stop hanging out in the range and ran up, up and away. Yet here we are today much lower. I guess buy and hold isn't what it use to be when my Grandpa bought me some at birth in 1971...Well all the government/FED intervention just means you learn the new rules and play within their game. As a Fannie/Freddy/WAMU and Lehman trader/investor/gambler you begin to see things in another way...A game of musical chairs but more than 1 gets pulled when the music stops. Focus on what you want, smile and enjoy the ride as best you can.
Oh all of this is IMO but Interesting action on the FED .5 rate cut and what happened looking back in time...down/up/down and look how high BHC share price was. 18 floor 22-24 trading range and 26.50 the ceiling...Well then tank to low 11with lockdowns and yet it climbed back up into the 30's off the spinoff news and then TANKED all the way to 8 on that not going well then topping off around 11 before the SUPER TANK to 4 thinking we'd lose XIFAXAN to generics but the hoops needed to do that will probably keep our exclusivity also IMO. Only time will tell even if the PPS doesn't at this time.
More past numbers to keep in mind. I think we topped out around 11.15 after we fell from that mess we called an IPO. If BHC shareholders don't get 80% of BLCO I think these numbers from years ago might prove helpful in any future action needed.
Looks like the 26/26.5 was accurate as this puppy likes it's floors and ceilings. Got a LONG WAY to get to the old ranges but anything can happen. Selling Solta if it's doing good now that the world is open (Hello China) would really give us some gas to shoot for the old trading ranges. =P If 88.7% of BLCO are held for another year then maybe we get back to 20's if BLCO PPS gets the old valuation that Crammer pumped before BHC dumped. Hummm. Need to keep a list of his picks and buy them a year or so later. lol
A post of mine from over two years ago talking about a past golden cross getting a 40% POP
After the POP from BLCO's new CEO we went down to around 8.60 the day before ER and hit 10.23 before the first half hour of trading. (Almost 20% gain) Closed Friday (2/24) @ 9.57 The 500 DMA crossed over the 200 DMA but the 200 was desending so not sure if that's a golden cross or not. However BHC hit 7.10 around 2/12 or 2/13 which is almost a 45% gain. This could go either way and try to run 75% around 12.5 which would be more than 200% from it's 52 week low of 4. With Almost 71% held by instituitions according to TDA and less than 7% short interest. The chart also shows a gap between 7.50 and 8 so that could fill too. That BLCO (18.33 currently) distribution makes me think, (9.18 for 50.1% & 14.66 for 80%) and we're trading like 50.1% is possible (BLCO short interest 15.5% and 12.6% inst. owned) and after that we'd fill that gap and maybe make a new low but might hold 4 in anticipation of getting 29.9% more in a much later time as the company uses the other 8.7% of BLCO shares to pay down debt... Will plan to trade accordingly while keeping a core for an unexpected event. Basically 'flip for freebies' Good luck
Broke up above 9 =)
Got down to around 7.10 Monday 2/13/23 so I think 6's are gone for good as we find a higher 'trading range' as the 6/6.5 to 7.50/8 one comes to a close. Could see it going down to 7.5 to close that gap but could also see it run away close to 12.50 so I'll be playing accordingly.
Still trading it but it looks like it broke out a bit so probably won't go down to 6's again but who knows. Whole market could start another leg down this week but maybe the temp bottom is in for the year but I doubt it. BHC is trade worty until it finally breaks free of this trading range with some good news.
With the new year, there should be no one selling to book a tax loss. Now if BHC could just get out some news...
Selling the 7.80's in the AH was great as it opened 7.50 and went below 7. I bought back at 7.20 and just sold most of my calls and shares in the 7.90's range but bought some other ITM calls as I expect it will keep going but I needed to lock in some profits for losses when we dropped below 20's Trade accordingly and had gotten my average to below the bounce when the IPO didn't go as planned but bought WAY too many shares/calls on this roller coaster and needed to derisk overall. 80% cash and willing to buy if we fall back into that old trading range but hopefully we will put those numbers to bed before the end of the year. Trade accordingly.
Up almost 15% in the AH. 6.82 to 7.80's. Got lots of ITM calls so I sold my shares, most 7.84 because of a 'trading range that use to be buy 6.5 sell 7.5 but maybe with the news that 15% will be 25% 8.50's and much higher over the next few days but they also might try to fill any gap but we were under the 50 dma @ 6.95 and 200 dma is 11.83 so maybe a run goes 75% like the old days which would be just under 12 which is around what the BLCO shares are worth @ 14.56 Happy trading and good luck. Might be an EXCELLENT early Santa Claus rally for BHC. Wwweee
I figured 5 bucks is where BHC would trade AFTER the distribution so I've loaded the boat before the judge rules, settlement or distribution. The only thing that has happened in the past year is the HORRIBLE timing of the BLCO IPO at a much lower price but only 10%... Stock was at 30 under a year ago and it was expected to go much higher on IPO but TIMING is everything. I'd say adding under 5 is great timing for buy and hold even if the Recession hits really hard. This is a Depression price IMO. Depression for those already holding before last weeks fall. Yes I was one of them. lol
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