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I'm with you on this one, I agree we need to be cautious about how we use the options and understand we lose value as time draws near to the contracts expiration as well as the difference in profits.
On the flip side of that though let me see if I can explain what I had in mind when I made mention of using options to play the pinchers.
I will use HWAY as we are both familiar with it and it fits what I was thinking. See chart below
On Tuesday HWAY took a severe beating, worse than a redheaded kid in a foster home to be exact. Not because it was a bad play or a bad chart but because they dropped news right before market open that investors didn't take well.
Monday HWAY already had a pinch on the chart and closed at 45.35. Tuesday it opened at 31.54, fell to a low of 28.43 and closed at 31.93. This just made the pinch on the chart tighter.
Wednesday HWAY closed at 32.70 for a 2.4% gain
Thursday HWAY closed at 33.56 for a 2.6% gain, also keep in mind the markets dropped pretty hard on this day.
One thing I like to look for on days when the dow takes a beating is stocks that pulled of a green day, IMO shows the stock has some strength to it for more gains.
So lets assume we catch this before EOD yesterday, the markets are down and this thing is green. It's trading around the 33.50 mark and we believe it will continue into the next day. Let's say we look at calls and find the March 35.00 calls attractive and buy some before close at or around 1.10. With scottrade one contract would cost me 118.25.
Today HWAY opened at 33.64, hit HOD of 35.74 and closed at 34.35. Had you bought long before EOD yesterday and sold at HOD today you would have had 6.5% gain before commissions.
Had you bought the March 35.00 calls you would have had 104.5% gain before commissions at HOD. On one contract that would have been 89.5% in gains after commissions. Even if you sold on the bid before EOD you would still have had 7.5% gains after commissions. Of course how much money you make depends upon how much money you risk. If I had made this play and only had 118.25 on the line and I had a green day when the markets were down over 300 points, I probably would've held them til monday just to see what happened.
One march 35.00 call contract would have given me 98.45 profit after commissions on a risk of 118.25. To have made the same dollar gain buying long I would have had to have put up 1515.00 and had the stock pulled back 10% I would have lost 151.50, that's 33.25 more than I could have lost with one option contract
Of course this is a risky way to do it, but then again anytime you make a purchase you have risk involved. The thing I like about this is, the risk isn't that great but the reward potential is huge.
HWAY Option Chain
I wouldn't dwell on it too much, markets took a huge beat down today. I haven't had time yet to take a close look at what you did yet, I plan on doing that this evening when I have a bit more available time to digest it all well.
I did a similar move with MGLN today, thought it would do well and jumped in early only to have it fall apart on me. I'm not going to sweat it as I believe the play is solid for now and should produce well when we get a decent day.
I also took a position in AMZN with some April $50 puts. It's kind of a lotto play for me right now, didn't put huge money on it and if AMZN does even close to what I think it will over the next month I should come out well on it.
Did a day turn on PRU today for a 10% gain, it didn't fall like I expected it to so I jumped out near low of day right before close. I figured no reason to turn down a 10% gain on a day like today.
I'll be around a bit later to look back over the day.
OMG, I couldn't have played that worse than I did! Ouch!
I called out this morning that GS was going to go down and how I was wishing for the PPS to hit $172 before I entered. Then 1 hour later I jumping in @ 173.80!
What a jerk! I really could have got a much better price and been extremely happy when GS turns around. The only thing I did right on my first position was buy contracts that expire in April. I hope the little run at the EOD will carry over on Monday but who am I kidding? LOL
I still think this is a great opportunity but just upset with myself for being too anxious to just jump in when I did. Now I get to think about this stupidity for the whole weekend!
Boca_Bobby
MGLN on a nice push upwards here, may get back to HOD
Opps.... I did it again!
The support for GS seemed to set up @ $173.80 or so after the first 1/2 hour of trading. So here is what I did:
Position #1:
Buy April $170/Call @ $13.00
Position #2 (Long Call Spread)
Buy March $170/Calls @ $9.81
Sell March $185/Calls @ $3.00
Avg Spread Price = $6.81
Boca_Bobby
I am loving what the market is doing for us today. GS is down in pre-market! I love it.
I would love to see GS get down to $172 or lower today. I will back the truck on some April $170/Calls! I see a target of PPS of GS in the $190-$200 range. That would bring $20-$30 of "intrinic" value to the $170/Calls alone. If the PPS gets to those values beofe the end of April, we would be seeing about $25 increase in option price!
Boca_Bobby
Now you two are thinking like me and that's pretty scary! But here is a little food for thought. Keep in mind that the pinchers that we look at most of the time will never have to potential that AAPL showed us. The reason for this is the "intrinsic" value of the option contract.
http://www.investopedia.com/terms/i/intrinsicvalue.asp
When buying a "Call" option we have an unlimited amount of profit potential just like a stock. The only restraint outside the resistance that a stock would normally see is the "time decay" factor. So what does this mean to us?
Well, most pinchers we have looked at are of the "under $20" variety. Let's say we agree that a 10% move would have made us happier than pig in (expletivie). That 10% equates to a $2 in the PPS of the stock. How would this $2 affect out option contract?
If you knew the delta figure you could assume the option value. If we had a 50 delta then we would see our option go up $1 ($2 move in stock PPS times .50 for the delta figure).
But what happens to a stock that has a PPS of $100, an upside of 10% and a delta of 50? Let's look at those #'s for an apples to apples comparrison.
Stock PPS = $100
Upside gain = 10% or $110
Delta Figure = 50 or .50
$10 (gain in PPS) X .50 (Delta figure) = $5.00 up in option price.
Now I know that the option price for a $100 stock is higher than a $20 stock. But I would need to buy 2 1/2 times more contracts of the $20 stock to get the same return as one (1) contract of the $100 stock! Usually the option price of the $100 stock is not 2 1/2 times larger than the $20 stock.
So yes, pinchers are a great starting point. But let's not just jump into the options thinking we are going to make huge gains. I would rather make one nice option trade a month and wait for the next big time opportunity keeping a little powder dry for that opportunity.
Let's keep our eye on the ball. We should do both. Part of our portfolio playing the pinchers getting our usual 3%-5% gains in a few days. And powder ready for that killer option Play!
I hope this helps.
Boca_Bobby
Now you two are thinking like me and that's pretty scary! But here is a little food for thought. Keep in mind that the pinchers that we look at most of the time will never have to potential that AAPL showed us. The reason for this is the "intrinsic" value of the option contract.
http://www.investopedia.com/terms/i/intrinsicvalue.asp
When buying a "Call" option we have an unlimited amount of profit potential just like a stock. The only restraint outside the resistance that a stock would normally see is the "time decay" factor. So what does this mean to us?
Well, most pinchers we have looked at are of the "under $20" variety. Let's say we agree that a 10% move would have made us happier than pig in (expletivie). That 10% equates to a $2 in the PPS of the stock. How would this $2 affect out option contract?
If you knew the delta figure you could assume the option value. If we had a 50 delta then we would see our option go up $1 ($2 move in stock PPS times .50 for the delta figure).
But what happens to a stock that has a PPS of $100, an upside of 10% and a delta of 50? Let's look at those #'s for an apples to apples comparrison.
Stock PPS = $100
Upside gain = 10% or $110
Delta Figure = 50 or .50
$10 (gain in PPS) X .50 (Delta figure) = $5.00 up in option price.
Now I know that the option price for a $100 stock is higher than a $20 stock. But I would need to buy 2 1/2 times more contracts of the $20 stock to get the same return as one (1) contract of the $100 stock! Usually the option price of the $100 stock is not 2 1/2 times larger than the $20 stock.
So yes, pinchers are a great starting point. But let's not just jump into the options thinking we are going to make huge gains. I would rather make one nice option trade a month and wait for the next big time opportunity keeping a little powder dry for that opportunity.
Let's keep our eye on the ball. We should do both. Part of our portfolio playing the pinchers getting our usual 3%-5% gains in a few days. And powder ready for that killer option Play!
I hope this helps.
Boca_Bobby
PRU chart
I'm a bit mixed on this one right now, I like the chart just not ready to make any type of assumption as I can see things that point me in both directions, may need a day or two to confirm a few thoughts on it
MGLN news and chart
I like the looks of this combination, beat earnings and PPS has been downtrending, look for nice gains here today
6:32AM Magellan Health beats by $0.12, reports revs in-line; reaffirms FY08 EPS guidance, revs guidance (MGLN) 42.17 : Reports Q4 (Dec) earnings of $0.78 per share, $0.12 better than the First Call consensus of $0.66; revenues rose 42.6% year/year to $658 mln vs the $660.2 mln consensus. Co reaffirms guidance for FY08, sees EPS of $1.88-2.34 vs. $2.15 consensus; sees FY08 revs of $2.53-2.66 bln vs. $2.62 bln consensus.
AMZN annotated chart
I was looking at this one last night but needed to sleep on it. Came back to it this morning, looked at it from a bit of a different angle and the notes are what stood out to me.
It's still a bit early yet but right now the bid and ask are 66.37 x 67.04 with 400 printed. Both the bid and the ask are below the blue line at this time. IMO it will ride the bottom bollinger down from here.
Looking at insider transactions, these boys really have been having a good time selling their stock and exercising options to buy more at under 10.00/share. I'd sure like to be in on that action as I can tell you who's been making big money on this thing.
JK pointed out to me a post over on another message board on it. Post makes mention of how best buy and circuit city sales and PPS are down, Sears holding is down, even target is down. Retail is in the gutter right and Amazon is selling the same items everyone else is why would anyone believe they would be profitable this year?? Makes a whole lot of sense to me, at least it sounds good.
I'm looking at either shorting or buying puts on this bad boy as I think it will come unwound real nicely if it breaks those support lines. Just my opinion of course and I could be wrong!
Just a quick thought here, JK and I have talked about this a bit and I was curious what your thoughts are.
We all know how many of our pinchers have worked out. We pick them off our scanner, chart looks absolutely awesome, we buy in long, sit on them awhile, don't get the action we want, we start second guessing our pick then move on to another play only to see them erupt a week or so after we pulled out.
What I have been putting some thought into is finding some pinchers with great potential like AAPL and PRU to name a few, buying calls at or below where we believe the resistance is that they will run to and filing them away for the pop. I find this especially attractive on plays that have found a bottom and started to curve upwards.
I'm not so much interested in exercising the options as I am trading them and I believe with this we can cover more plays and turn some serious gains when they do make big runs.
Any thoughts??
very interesting concept indeed, I like how that sounds, took me a couple reads through to get a grasp on it but think I've come to terms with it now......lol
GS MARCH LONG CALL SPREAD OUTLINED:
What we are trying to do here is capture the profits of a call option but pay less for the contract. How do we do this is called a "Long Call Spread." It involves buying a call contract at one strike price and selling a call contract at a higher strike price. Money comes out of of account to buy a call and money comes into our account for selling a call.
It's sometime easier to remember that we are buying and selling contracts, NOT STOCK! But it's the stock PPS that gives the option contract it's value. So here's what I see for March.
The top Bollinger Band is my target and currently has a target of a little over $200. This is my price for the selling of a call contract. Currently the last price of a $200/call for March is $.75 ($75/contract).
The current PPS of GS is $176.70 so I would look to buy a $180/call for March. Currently the last price for this contract was $6.00 ($600/contract).
Now with my broker (TradeKing) I can do this position in one buy/sell transaction. If your broker doesn't have "complex" orders, you will need to buy your calls and then sell the other contracts in 2 transactions. But this is basically what we see:
Buy March $180/Calls @ $6.00
Sell March $200/calls @ $0.75
$6.00 - $0.75 = $5.25
This new figure $5.25 is your new average cost for one (1) contract of this spread. What do we want to see? Well this is for folks that are bullish on GS but can see a target also. We ideally want this stock to run all the way to about #198 with about one hour to go before the contracts expire. You "bought" contracts will be about $18 in the money and your contracts will be worth about $17-$18. Your "sold" contracts will be close to worhless!
So the outcome would look like this:
We need to sell the contracts we bought
and
We need to buy the contract we sold earlier.
SO let's say our $180/Calls are at %16.00 and our $200/Calls are @ $1.00.
$16.00 - $1.00 = $15.00
Now we take that $15.00 and subtract our original "spread" price of $5.25.
$15.00- $5.25 = $9.75 per contract is our profit!
5 "spread" contracts cost us 5($5.25) or $2625 plus commish
5 "spread" contracts sold give us 5($9.75) or $4875 minus commish
$4875 - $2625 = $2250 or almost 86% profit
This is about the most you could collect in this situation. The worst case senario is if the contracts all expired worthless. This would happen if the PPS of GS never moved above the $180 strike price before expiration. Another seneraio would be if GS ran above $200 by the expiration. If this were to happen you profits would be affect but not as bad as not getting above the $180 strike price.
I know this was a long post but I really wanted to explain what kind of opportunities are out there. I hope this helps someone.
Boca_Bobby
I'm all ears, lay it on us, I think we can take it......Maybe.....lol
Also been toying with the iBox tonight, I got two of you plays on there, I'm thinking you had some more that were better than 20% but there's a lot of messages to dig through. Remind me if you have something additional you want in there. If you don't want them posted let me know and I'll take them off as well
Also will be adding some information links to the iBox as well, especially options. If you have any good sights you want in or that would be helpful let me know.
ALERT! ALERT! ALERT!
I think I may have another option play for those interested. Since we are now really into March I would be looking at the April Calls.......
For those that may want the blood to pump a little more try a March Long Call Spread. You have about 3 weeks with a possible big pay-off! I will describe both plays in another post.
Boca_Bobby
disregard that last message, I see where you posted the figures
If you don't care to do so, figure your total percentage gain and time and I'll throw it in the iBox. I think we need to be keeping track of some of these monster plays so come about Thanksgiving we can look back and reflect on the year without having to dig through thousands of posts........lol
I got so excited watching u guys today i dumped out of ARWR @ $2.60 cause it was breaking my concentration. 4.8% profit in 2 days isnt bad but now im thinking WHY O WHY was i buying stock when i coulda been riding that option play.
I'm in total awe to be honest with you. Thanks for the heads up, I knew it was a good play but hadn't looked at it from that point of view until yesterday.
I also have to completely agree that options are just too powerful to not use.
As for the flight, may have to pass right now as I didn't have as many contracts as you did but I did have a nice steak last night.
Great!
I'm glad you followed me. There is just too much money out there not to use options as a tool! Very nice!
Will you be on the chartered flight to Cuba for a cigar? LOL
Boca_Bobby
I took profit on my AAPL March 125 calls. In at 3.95 out at 8.70
113% profit after commissions in one day
Still holding some April 160 calls which could do me very well if it continues on with nice gains
I just looked at my TradeKing portfolio. I have about 100% gain to my total bottom line in 20 days. I had to go outside in the Florida sunshine and take it all in for a few minutes!
I was a little upset that I just didn't wait longer but when you have a chance like this you just gotta jump off before it got too late. Maybe I was off a little early but who cares at this point!
Now I just got more homework to do for tomorrow! Hang on CTA as long as you can but let's remember to ring the register as well! No shame in any size profits on this board!
Boca_Bobby
KAAAAAAAAABOOOOOOOM
It just doesn't get much better than that, I'm still holding my march 125 calls that are now up over 120% from my 3.95 entry and took a chance on some April 160 calls, small risk, huge potential
145% Gain in 28 hours!!!!!!!
Annnnnnnnnnndddddd He's out!
Just sold my last 2 contracts after hitting my initial target with a $130 PPS of AAPL. It was pure profit with these last 2 contracts but the little voice inside was talking louder and louder....... so I sold!
I got $16.25 on these 2 contracts. I got $15.75 on the other 3 contracts. All 5 were purchased @ $7.45!
That's a gain of 145% in 28 hours!!!!!
Who needs the penny stocks? LOL
Boca_Bobby
APPL Chart......$129.95 and counting....
APPL in full blown breakout mode now, chewing into the $130 resistance like a dog for a bone. Pinch has released and expanding. I wouldnt be suprised to see it fill the $140ish gap, keep in mind its running hard on a severely down market day.
Congrats to Bobby & CTA on their options calls.
Ring the register boys!
I just sold 3 of my AAPL March $115/Calls for $15.75! That gave me $900 in profits so far and I have 2 contracts left for a hopeful run!
Boca_Bobby
Another 6% gain to ring that register!
I bought a few OTD @ .25 and sold @ .29 for a little over 6% after commish. I will never buy another stock under $2 using TradeKing! They kill me with the higher commissions for stocks under $2! I probably could have held longer but let's remember that 5% on any stock trade completed in a few days is more than acceptable to me!
Boca_Bobby
RHD nice find, 5 minute intraday looks like it's ready to come up off bottom already.
I found this one on my scan results last night. They reported today and beat expectaions but lowered the 2008 outlook. They were punished severly for it. I bought a few at 11.28 and will look for a little recovery in the next day or two.
Boca_Bobby
Extremely nice indeed, and it's a problem I don't know how to deal with as I haven't been faced with it very much in the past.
My March 125 calls that I added yesterday at 3.95 were up 88.6% at HOD of 7.45
sure beats the hell out of 3%.............lol
OMG! I can't beleive what's going on. This is almost comical as to the price of the AAPL options at this point. I hit the 100% gain mark and we have even hit the $130 PPS target I have set.
If AAPL follows the daily pattern it has for a few days now, we should see a PPS over $130 by the EOD. This sure is a nice problem to have!
Boca_Bobby
I am really liking the sound of that. I think we are golden right now with AAPL, no doubt about that.
I've been putting a huge amount of time into learning more and more about how to play these and the more I learn the more I like them. I think JK even has warmed up to them......lol
I'm looking at a bit of a new strategy and will be paper trading it for awhile to see how it works out. If it works out I'll throw it out there for everyone, if not, well we'll go back to the drawing board......lol
I went to check the Delta figures on our contracts:
$115/Call = Delta .76
$125/Call = Delta .46
What this means is that for every $1 that the stock rises or falls we can expect the price of the option to rise or fall to the amount of the Delta.
It get real interesting the closer you get to expiration and you are "in the money." The highest Delta # is one (1). If AAPL closes at my target of $130 today our Delta's should be about .90 and .60 respectively.
Since AAPL say they have more news comming before the end of the month we may beed to hold overnight again unless that news is out today. And remember that the downloadable software for the iPod will be available on 3/6/08. This gives us about 2 whole weeks before expiration.
I smell a double in the works!
Have you ever seen an option worth $25 per contract?
Boca_Bobby
Ready to make some bank today?? Looks like AAPL is down a bit in premarket from AH trading yesterday but still up huge from close.
Markets look to be wanting to fall this morning, I may do ok with my March 155 puts on POT
Markets being down probably has some effect on AAPL trading a bit lower this morning as well IMO
GLTY today
BRKR news and chart
Consensus of .11, beat by .06, that's 55% better than consensus. It's been gaining some, but this should really put a fire under it IMO. Looking for nice gains here.
7:13AM Bruker BioSciences beats by $0.06, beats on revs (BRKR) 12.22 : Reports Q4 (Dec) earnings of $0.17 per share, $0.06 better than the First Call consensus of $0.11; revenues rose 35.5% year/year to $183.7 mln vs the $154.5 mln consensus.
S (Sprint Nextel) News and chart
This should play off decent IMO. Looking for some gains here
7:14AM Sprint Nextel beats by $0.03, reports revs in-line; not to declare a dividend for the forseeable future (S) 8.95 : Reports Q4 (Dec) earnings of $0.21 per share, $0.03 better than the First Call consensus of $0.18; revenues fell 5.7% year/year to $9.85 bln vs the $9.92 bln consensus. Wireless had 53.8 million total subscribers at the end of 2007. At the end of the fourth quarter, Sprint Nextel served a little more than 35 million subscribers on the CDMA platform, 17.3 million on iDEN and 1.4 million PowerSource subscribers who access both platforms. Overall, post-paid churn was 2.3% in the quarter. In the fourth quarter, the post-paid churn rate was flat with the third quarter for both the iDEN and CDMA bases. Board of Directors has determined that the company will not declare a dividend for the foreseeable future, in an effort to retain greater financial flexibility.
CTB News and Chart
It's been gaining some, however this is exceptional news IMO. I look for continued gains here.
7:27AM Cooper Tire beats by $0.07, beats on revs (CTB) 19.11 : Reports Q4 (Dec) earnings of $0.43 per share, $0.07 better than the First Call consensus of $0.36; revenues rose 7.0% year/year to $765.1 mln vs the $743.8 mln consensus.
FRE News and Chart
Not any surprises here IMO, may be worth watching for a short play
7:44AM Freddie Mac misses by $1.63 (FRE) 25.09 : Reports Q4 (Dec) loss of $3.97 per share, $1.63 worse than the First Call consensus of ($2.34). Net loss was $2.5 bln for 4Q07, compared to a loss of $1.2 bln for the 3Q07. The majority of this increase in loss resulted from significant mark-to-market losses detailed below in the discussions of other non-interest loss and other non-interest expense. Without giving effect to the accounting changes for the co's guarantee obligation discussed above, the Q4 net loss would have been $3.7 bln. "Today's economy represents one of the most severe housing downturns in American history, and our results reflect that difficult environment as well as Freddie Mac's steadfast commitment to its important mission of providing liquidity, stability and affordability to the U.S. housing finance system... We remain extremely cautious as we enter 2008. If the economy weakens substantially from here - a possibility for which we need to be prepared as a company - it will have a further negative effect on homeowners across the country and drive credit costs higher. However, we have taken the steps to add capital, tighten our management of credit risk and institute pricing policies that are more consistent with the risk we bear... In 2008, we will continue to prudently manage our capital, particularly given the outlook for continued weakening in the housing market." In addition, as a result of the continuing deterioration in the U.S. housing market, the co has revised its estimate of total credit losses for 2008 and 2009 to $2.2 bln and $2.9 bln, respectively.
PDGI news and chart
Great target here for a short play IMO. Trading at the top of its channel with all kinds of room under it. Has been trading sideways for last couple months and slightly declining. Chart is top heavy as well.
News:
6:08AM PharmaNet Devlpmt beats by $0.02, misses on revs; guides FY08 EPS below consensus, revs below consensus (PDGI) 41.35 : Reports Q4 (Dec) earnings of $0.33 per share, $0.02 better than the First Call consensus of $0.31; revenues rose 16.7% year/year to $92.3 mln vs the $94.5 mln consensus. Co issues downside guidance for FY08, sees EPS of $1.42-1.57 vs. $1.76 consensus; sees FY08 revs of $401-409 mln vs. $414.81 mln consensus.
GSS news and chart
3:55AM Golden Star Resources reports Q407 results (GSS) 4.03 : Reports Q4 (Dec) earnings of $0.03, excluding valuation allowance for tax assets, $0.04 better than the First Call consensus of ($0.01); revenue rose 112% year/year to $69.88 mln vs the $68.32 mln consensus.
SHLD (Sears Holdings) news and chart
another one I'm mixed on. I don't think it is much surprise that they missed revenues as much talk as there has been about their business declining. It has taken a pretty good hit already coming down from 152.91 a couple months ago to a low of 84.72 and closing yesterday at 101.60. IMO it could easily drop back to low 90's or mid 80's on this news over the next couple days. Chart actually showing a couple signs of strength but news may very well trump any recovery efforts for awhile here. Worth keeping an eye on for a short play IMO.
news:
6:09AM Sears Hldg misses by $0.06, misses on revs (SHLD) 101.60 : Reports Q4 (Jan) earnings of $3.04 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $3.10; revenues fell 6.8% year/year to $15.07 bln vs the $15.26 bln consensus.
GTLS news and chart
I'm mixed on this one, news out is great however it closed yesterday at 30.00. 52wk low is 15.82, 52wk high is 36.00, so it's trading closer to the upper part of that spread already and has gained a little over 8.00/share since around Jan 22. IMO it's possible that these numbers were expected and we may not get a big pop out of it but I expect some nice gains on it. One thing to be careful with that can work for or against you is that it doesn't have a lot of shares available, I'm showing 28,055,000 shares issued and outstanding. If my source is accurate it won't take much pressure to cause it to move either way. Chart is getting pretty top heavy as well but still has some room for more gains. IMO if considering an entry watch it closely.
News:
6:43AM Chart Indust beats by $0.16, beats on revs; guides FY08 EPS above consensus, revs in-line (GTLS) 30.00 : Reports Q4 (Dec) earnings of $0.57 per share, $0.16 better than the First Call consensus of $0.41; revenues rose 26.5% year/year to $182.7 mln vs the $166.3 mln consensus. Co issues mixed guidance for FY08, sees EPS of $2.28-2.40 vs. $2.20 consensus; sees FY08 revs of $730-765 mln vs. $738.50 mln consensus.
nice update for sure and I hope you are right on estimates, I tend to agree with you on them.
Look at this! It's an update to the earlier story on AAPL:
"Cook also made bullish comments about the impact of any economic headwinds, and said the company is confident it will meet the 2008 target for iPhone sales. He also hinted of a bigger iPhone development to come later this month.
Since we broke through that MA(20) in after hours trading, I think the next resistance for AAPL will be @ $135.51 (top Bollinger Band). If the Bulls are a charging tomorrow, we WILL see that! Man would I love to fill that gap within the next 10 days!!!
I think we really stepped into a pile this time CTA! Let's keep our fingers crossed. I had a target of $130 but man I gotta just let her run on me.
I'm too excited to sleep! LOL
Boca_Bobby
APPX News and Chart
This looks like an incredible opportunity for a nice run to me. I've not looked beyond the initial news and chart and will be doing so before tomorrow.
4:28PM APP Pharma receives final approval for Irinotecan Hydrochloride Injection (APPX) 11.72 -0.07 : Co announces that it has received approval from the U.S. Food and Drug Administration of its Abbreviated New Drug Application for Irinotecan Hydrochloride Injection, 40 mg/2mL and 100mg/5mL, the generic equivalent of Camptosar Injection manufactured by Pfizer (PFE). Co has immediately commenced marketing and shipping the product. APPX's irinotecan is AP-rated, bar-coded and latex-free. Sales of Camptosar in the United States were ~$556 mln in 2007.
very impressive, I hadn't had time to look at them yet but I like the sound of that.
LKQX did quite well today. It gapped up at open to 21.21, could have grabbed it premarket or right at open and rode it up to 23.02 which was HOD. That would have been an 8.5% flip for the day on a long buy.
I'm going to have to start watching options on these plays as well as I'm liking that my morning picks are having nice runs and they are pretty easy to tell which ones will have nice action for the day.
AH last on AAPL was 127.30, should carry over for a nice gap up in the morning. daily chart is set up very nice and there is plenty of room for the run before it gets too top heavy.
That must be whats causing the eruption in AH trading. Im not in this with u guys but consider me the best cheerleader u ever saw.
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