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Happy Friday - Update. I'm still dealing with a lot of medical problems and am not trading like I used to. So, for now I've removed my IBox info until I can start trading again and am able to keep up with everyone and learn and earn.
Still holding ELTP ...and waiting...and waiting. Sold a few shares, but holding and holding.
Hope everyone is taking profits when they're there. Good Luck to all!
OT: I'm still having a lot of problems healthwise so I can't post as much as I used to. I also just can't keep up with you guys and your fast posts, but am following the markets and charts as best I can.
Am still holding SYN and ELTP. Hopefully ELTP releases earnings soon and keeps it from falling down again, to what seems to be its new range ($.30-$.50). From chatter, seems to be next week is the best bet, possibly Friday.
SYN is looking stronger. Hopefully today's PR and maybe Trimesta rumoring will start up again about a partnership, etc.
Best of luck to all. Trade carefully, follow your rules, and above all else...
LOCK IN PROFITS, LOCK IN PROFITS, see how the market has changed, how its acting and LOCK IN PROFITS!
Careful : Just one man's thoughts to be careful at the moment. Perhaps wait a day or few to see how the market is doing before entering new trades. Yesterday the S&P hit another record high, only to quickly reverse course and drop down fast.
I follow the major indexes of course, but I always have one screen open to show the DAX - The German index. Why? Because Germany was leading the way in Europe and the country that Europe looked to in the recent financial recession.
It's uncanny to me, how the DAX moves in step with our markets. The DAX closes each day at 11:30 EST. Before I enter/exit a trade, I check the overall markets and the DAX for confirmation of trends.
DAX Streaming chart: http://www.investing.com/indices/germany-30-chart
Then a month or two ago, I found this article which mentioned the USA and Germany correlation and saved it. For anyone who is interested:
http://www.cnbc.com/id/101495413
Here's the 60 Min Chart of the Dax. Look at the large volume spike in March and how the DAX went up after that (along with our markets). Look at the large volume spike a few days ago, and how the DAX has started reversing since then, going down. The DAX is near a support level at the moment.
I bought some weekly CALL options of the SDS (2x Short the S&P) on Monday and a few more yesterday when the S&P hit it's all time high and my 15 Min chart showed resistance.
Nobody knows what the future holds, but for those that trade on charts, I find that the DAX has reversed, and yesterday the 3 Major US markets also reversed rather quickly.
Also, 21 of the last 25 years, the S&P finished down the week following June expirations (last Friday).
NASDAQ reversal yesterday:
Just a thought to be careful, to wait if thinking of buying, or use your charts to find the level that you think is a good entry to buy. I bought SDS options last week too and lost on them, but also bought some options in the SSO (2x Bullish S&P) which bailed me out.
my $.02
HOLDING: SYN & ELTP - Both looking good for reversals at the moment.
OPTIONS: Bought a few lotto options in CNDO, GTXI a few weeks ago. Both look to expire with no value. They were lotto's so, although not great, I'm ok with that. I figure 1 in 7 lotto's will work out, and that might average out.
ACHN: Bought PUT options in ACHN, had 50% gain ...didn't take it, then doubled down when it went up 20%, pretty much lost all of that. BUT, as a hedge, bought Call options once the charts dictated, so am hoping that ACHN continues to rally up today and I should be able to break evenish. Looking good in pre-market - hoping during QUADRUPLE WITCHING, it continues to act crazy.
Quadruple Witching Today : No economic data is due during the day and no major companies are set to report quarterly earnings. Stock and index derivatives, like options and futures, are due to expire on Friday in a process known as quadruple witching. This is likely to increase volatility.
Good possibility for stocks to careen out of control in one direction and then right back in the other direction.
Happy Friday! the 13th too :)
Been a rough few weeks healthwise not only with me but with family members. Then on a day when I can finally sit down and trade, all the electric goes out. Trading by phone is spotty. I can't stand whiners, so not gonna be one. Just the way its been.
Have been watching stocks when I can but haven't done much, but sell some IDRA and buy some options. I'll update iBox soon Smurf.
Holdings:
I sold all IDRA in 4 lots over the past few weeks as I've needed the $$$ in life. I tried to sell as little as possible to wait for the climb back. I think its going much higher in time still. I had averaged down to $3.43, I sold the 2,000 I had left yesterday for a $200 loss. I was down $4,500 on it, so I think a $800 loss total. Markets didn't look good even though IDRA did, so got out.
Holding ELTP and SYN still. I was thinking ELTP was going to make the move first back up, but SYN is getting ready. ELTP looks good fundamentally, it just is sentimental i guess and sleepy at the moment.
Bought ACHN Puts a day or two ago. Bought the June 21 options betting on ACHN to be under $7. So far, so good. Am thinking they do an offering when the market closes today, as HESSE points out correctly - that Friday afternoon is the time that a lot seem to do it. We'll see. I don't believe the buyout rumors. Like HESSE i was watching ACHN daily and looking to pinch pennies on it to buy it. I had no cash but was watching for if I did. Timing is everything.
REMEMBER TO LOCK IN PROFITS - ALWAYS ANOTHER DAY, ANOTHER TRADE, ANOTHER BUS COMING. MAKE A GOAL FOR EACH, THEN ADAPT THAT GOAL, AS THE MARKET CHANGES. A 15% GOAL MAY NEED TO CHANGE TO 5% WHEN THE MARKET GOES SOUTH.
BIOD - $2.39 from my posting about RSI Divergence.
Yes, the $heff entered the station on this, but the chart was waiting for news of any type (and still is - good to watch on a pullback). Plenty of room to move in the next week or two.
Bob, Any thoughts on LJPC or BIOD? Thanks, Happy Friday.
Yeah, cuz ummm 60%'s not enough :)
And yes, IMO although Bios are back in favor a little, timeframes are still iffy. Have to keep watching ETRM and NAVB and others as a barometer.
IDRA - $2.87 - It moves in tandem with the IBB - no doubt, but on a multiplier. So if IBB moves a little, IDRA moves a lot - IMO.
I believe it has a good chance for a bounce here around $2.87 area. Has some support. Let's hope so :)
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LOCK IN PROFITS ! If not all - then some.
Fantastic Smurf! Nice plan and follow through.
good news hesse. hope it makes it's way back up!
Don't Look Back
Way to step up and offer info - RealGenius - Cool of you to do here. Good stuff. Been reading your posts for a while on other boards - always good info.
MNGA $1.54 - 15 Min chart - If interested. I enter and exit on 15 min charts. I choose stocks on the Daily and look at the Weekly for overall guidance, but choose on Daily and enter / exit on 15 Min. That's just my style.
If interested, here's the 15 Min chart for MNGA, and some notations, showing the last spike of price and the RSI peaks. When I typically see three peaks close by (of RSI) on a 15 Min chart, that's my exit - IF AND ONLY IF - the Daily chart has been exhausted, or I think no more room to run, and/or, if i want to lock in gains. Just something for you to look at if interested. As always, stick to your plan :)
Per the previous 3rd peak, it started to fall. Lock in Gains?? Just a thought.
Nice move fam. good job.
MNGA - Was there news?
NAVB / ETRM - Good news for bios is that they've been running finally. I've been waiting for some cash to enter NAVB, but it took off without me. It still has plenty of time for a re-entry before catalyst if/when they pull back. But both of them moving, tells me that eyes are back on them, that peeps are getting greedy again :)
That's good for us and for bios overall.
MNKD - fam401, I haven't paid close enough attention to MNKD because there was a lot of hoo-ha about it the last few months. Too much controversy around it. I forget the reasons why, but I'm sure you know if you've been following it or are holding it. it seemed to be a lightning rod stock for many - too hot for me to deal with.
But, yeah, its something to think about? And if it runs up before hand, it might be wise to take some $$$, and lock it in.
good luck
Yup. I do the same - the majority of my losses were/are all ones that i had a decent profit upon, but was stubborn and didn't want to take a small 1% to 3% to 5% gain when I had more.
So, then they turn into losses. It's definitely something that I have to learn still. But when I look back, my entries are always pretty darn good, so if I can keep that up, and just work on exits and the psychological aspects of it, I'll do fine in the long run.
Best of luck!
LOCK IN PROFITS!
Remember, who gives a shit if you were right, if you were lucky, if you were wrong but a rumor saved your ass, it doesn't matter.
A gain is a gain, and they're harder to come by then losses, so trust yourself, and the homework that you've done, and take the $ and move on.
After you sell, who cares if it goes higher, who cares if it goes lower. You're in this to make gains. The only way to make gains, is to LOCK in PROFITS. There's always another stock to choose from.
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I re-tweeted this today:
Carson Dahlberg, CMT @carsondahlberg
Most people think they’re playing against the market but the market doesn't care. You’re really playing against yourself - Marty Schwartz
Azy - LOCK IN YOUR GAINS :)
just a reminder. remember, that pretty much every day, or every few days, there's a bunch of stocks that look like good plays. (there's always another bus around the corner).
So, when trading, LOCK IN YOUR GAINS, and move on.
Small steps...lead to big gains.
Once I'm able to free some cash, I'll be looking to get back into taking 7%-15% gains and then moving on.
IDRA - They got a PT yesterday of $7 from someone that may have started this move, and a PR today of a presentation in early June. 4th I think it was but don't quote me.
On the Daily, it looks like its just starting to run and over the next month may make a good move, but hell, who knows?
RSI just hit 50. No idea if it will retrace today / tomorrow or start the run for real. Sorry, not much help. Hard to trust the bios still.
DARA - yeah, just another reminder, that its all a shell game with someone else moving the shells around and leaving us only guessing at times.
DRTX - Psychology of a trade. DRTX had a unanimous ADCOM, 12-0 positive i think it was. Because of that, the PDFUA was pretty much a slam dunk. I was going to buy some going into PDUFA, but it moved up too fast before the PDUFA and never bear-raided, or fell really in the week leading up to PDUFA.
I figured that it wouldn't pop too much after PDUFA approval, but would pop a little at least. Nope, it opened under ..and fell fast.
So, I'm just reminding myself, that in the future, a slam dunk shouldn't be held, and that the price is already baked in perhaps.
IDRA - $2.86 Would be nice if some of the DARA craziness would flow into IDRA. One can hope right? DARA was up 70% today on...I dunno why.
BIOD - Double Bottom & RSI Divergence? Bob, I was going through some old charts and brought up your previous play of BIOD. It looks like it has a double-bottom over a 6 month period and has a RSI Divergence vs. Price at the moment.
Any thoughts about entering this one again? I have not looked to see catalysts, was just checking charts and thought it looked interesting and knew you had history with it.
Thanks
Thank you Norm
IDRA $2.67 - Chart setting up. I'm sure there's a lot like this out there in Bioland, but IDRA is starting to look like its ready to bust a move. I've said this before though, but maybe this time, with the IBB feeling good about itself, IDRA will finally give a little relief rally.
Still holding 3900 shares @ $3.41 avg.
DRTX : FDA approves Dalvance to treat skin infections
link: http://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm398724.htm
The U.S. Food and Drug Administration today approved Dalvance (dalbavancin), a new antibacterial drug used to treat adults with skin infections.
Dalvance is intended to treat acute bacterial skin and skin structure infections (ABSSSI) caused by certain susceptible bacteria like Staphylococcus aureus (including methicillin-susceptible and methicillin-resistant strains) and Streptococcus pyogenes. The treatment is administered intravenously.
Dalvance is the first drug designated as a Qualified Infectious Disease Product (QIDP) to receive FDA approval. Under the Generating Antibiotic Incentives Now (GAIN) title of the FDA Safety and Innovation Act, Dalvance was granted QIDP designation because it is an antibacterial or antifungal human drug intended to treat serious or life-threatening infections.
“Today’s approval demonstrates the FDA’s commitment to encouraging increased development and approval of new antibacterial drugs, providing physicians and patients with important new treatment options,” said Edward Cox, M.D., M.P.H, director of the Office of Antimicrobial Products in the FDA’s Center for Drug Evaluation and Research.
As part of its QIDP designation, Dalvance was given priority review, which provides an expedited review of the drug’s application. Dalvance’s QIDP designation also qualifies it for an additional five years of marketing exclusivity to be added to certain exclusivity periods already provided by the Food, Drug and Cosmetic Act.
Dalvance’s safety and efficacy were evaluated in two clinical trials with a total of 1,289 adults with ABSSSI. Participants were randomly assigned to receive Dalvance or vancomycin, another antibacterial drug. Results showed Dalvance was as effective as vancomycin for the treatment of ABSSSI.
The most common side effects identified in the clinical trials were nausea, headache and diarrhea. In the trials, more participants in the Dalvance group had elevations in one of their liver enzyme tests. The Dalvance drug label provides recommendations on dosage adjustment in patients with renal impairment.
Dalvance is marketed by Chicago-based Durata Therapeutics.
The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.
DRTX : FDA approves Dalvance to treat skin infections
link: http://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm398724.htm
The U.S. Food and Drug Administration today approved Dalvance (dalbavancin), a new antibacterial drug used to treat adults with skin infections.
Dalvance is intended to treat acute bacterial skin and skin structure infections (ABSSSI) caused by certain susceptible bacteria like Staphylococcus aureus (including methicillin-susceptible and methicillin-resistant strains) and Streptococcus pyogenes. The treatment is administered intravenously.
Dalvance is the first drug designated as a Qualified Infectious Disease Product (QIDP) to receive FDA approval. Under the Generating Antibiotic Incentives Now (GAIN) title of the FDA Safety and Innovation Act, Dalvance was granted QIDP designation because it is an antibacterial or antifungal human drug intended to treat serious or life-threatening infections.
“Today’s approval demonstrates the FDA’s commitment to encouraging increased development and approval of new antibacterial drugs, providing physicians and patients with important new treatment options,” said Edward Cox, M.D., M.P.H, director of the Office of Antimicrobial Products in the FDA’s Center for Drug Evaluation and Research.
As part of its QIDP designation, Dalvance was given priority review, which provides an expedited review of the drug’s application. Dalvance’s QIDP designation also qualifies it for an additional five years of marketing exclusivity to be added to certain exclusivity periods already provided by the Food, Drug and Cosmetic Act.
Dalvance’s safety and efficacy were evaluated in two clinical trials with a total of 1,289 adults with ABSSSI. Participants were randomly assigned to receive Dalvance or vancomycin, another antibacterial drug. Results showed Dalvance was as effective as vancomycin for the treatment of ABSSSI.
The most common side effects identified in the clinical trials were nausea, headache and diarrhea. In the trials, more participants in the Dalvance group had elevations in one of their liver enzyme tests. The Dalvance drug label provides recommendations on dosage adjustment in patients with renal impairment.
Dalvance is marketed by Chicago-based Durata Therapeutics.
The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.
IBB - I believe that's somewhat ASCO related perhaps. I was hoping for that ASCO effect.
S&P 500 - 15 Min Chart
For anyone who's interested, here's the S&P and where it stands on a 15 Min Chart. As I've noted before, IMO the markets seem to be at a crossroads.
Something to watch and think about, for the next day or two. Typically speaking, IMO and in the way that I read charts at least, this looks to be a fade away for the rest of today, unless more volume comes in to pop it stronger. So, if unsure of taking any profits, I always watch the overall markets to see if there's room to move.
Just watch out - overall markets ...are.... you know. Possible lookout below situation. Besides our markets... Europe Stocks are at a resistance and the DAX, which I follow Daily, is also at a resistance level and has been stalled there.
So, may want to sit out, and see what's what. Just a warning, follow your own rules and strategies.
IGXT - $.75 - Also, i pulled up the chart this AM ...its looking like it may get jiggy very soon. You know more about it then me, so I'm not sure where it stands with that CRL delay, etc.
But the Daily chart is at a point where it looks to be moving one way or another. MACD about to cross perhaps (its touching).
NAVB : $1.41 - Has fallen back to the gap that it needed to fill near $1.40. Still watching this one for an entry. But catalyst a month away. no hurry.
Be careful about these markets Smurf. They're very iffy and no reason to rush into something without a STRICT catalyst (earnings, data, etc.) coming up in the very near short term.
Just my opinion.
ACHN is interesting, but not for a $2k play. It's had some good buys today and I believe that it's drug that is on hold is supposed to be lifted by the end of the 1/2 of 2014, but I haven't looked to confirm that - that's still the case.
But its had some good buys today (volume). Is always on watch for me. But...as always, the markets look very very cautious to me. So, am just watching.