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I have a similar problem. I'd be buying more ELN here but I have the feeling there will be more bargains out there, including FRPT. I took off my bid for SIGA at 2.75.
And of course, there is the other possibility that "this time" buying the dip might not work. Might miss a run, but I'm inclined to be cautious here.
Yeah, I saw Susan's post. I have a (very) few puts that this might work out for, but I'd rather be able to get back in around 17.5. Patience.
Well, picked up a few shares at 21. I see it has now traded at 20.80. I will wait 'til tomorrow and perhaps get some more even cheaper. This is one I'm not particularly worried about.
ELN
News sent this one down today, but this might be a good spot to pick some up (21). I have some AH bids in, but was slow so don't think I will get that, but perhaps early tomorrow morning. I think we have support here, but of course I could be wrong. Keep an eye on it. Really good one if you can get it cheap.
Yes, the perception in that case would be that we don't need all those MRAPs. The truth is that they will need to build them anyway to replace outdated Hummers and other vehicles they chose to leave behind. The contracts will be there. The question is how many will FRPT get.
I would love to hear a good valuation argument for/against the current FRPT stock price. That has not been my strong point, so I'm relying more on the chart.
I'm going to destroy whatever credibility I have with a belief I will state publicly: bad news comes in threes. It often seems to me that when these negative news items come out, there is another shoe ready to drop. Superstitious? You bet, but I'm waiting for that last shoe to drop to bring the stock price down one more time.
As far as how fast FRPT will recover from such an item, I have no idea. But until I hear something significant, positive or negative, I will wait and watch.
Yes, I think it will test the 200 day MA...eventually. Others are getting into the game so this will give FRPT a run for their money. That doesn't mean it will happen right away, though. I will stay on the sidelines until that happens (or I'm proven wrong).
SIGA
I did the same when I saw it break $3.
FRPT
Into the hole she goes. I'd look for support around the 200 day MA (17.58). Heart breaker for a stock I've been positive about for so long. Still, bought a few puts on it Friday. Not allowed to do that in IRA, so very few.
RPRX
One to watch if it can bust through 13.30. Should be good for longer term trade.
Great stuff. Call any vegetable.
This one sort of carries my trading philosophy:
Glad you didn't do that too. Probably easier to just trade the stock. Might be a good short if it hits 23.
Out working in the yard before it gets too hot.
Someday this one will pop and not look back. I keep it on my watch list.
Yeah, it tends to spike, then settle right back down. Still, right here we are closer to a bottom than the top.
LMRA on the move.
There are certainly safer bets out there this morning. Should have kept the small amount of HOKU I sold yesterday...
You done good.
I was out painting the deck, so saw the news a bit late. Could have gotten a better price if I'd waited, but knew that this would be a major stumbling block. Best to protect what you've got. Hard medicine, but I've been through this before.
Put an order in for shares at 17.50. I don't really think it will get there (today) but if it does, I'd expect a decent bounce.
I'd hate to say. If you trade like Zeev Hed, you can probably trade the heck out of it. For me at this point, I'd not touch it before:
1. It stabilizes somewhere.
2. It hits a ridiculous low, like 17 or so.
At this point I need to be cautious. With my trading style, I'd guess wrong and get killed. I'd sure be interested in what some of the better traders think, though.
Of course you are right about that, but with a report like this I think the perception of the company is likely to change. There is also the chance that they could miss on some big upcoming orders. I'm not brave enough to short it, but at this point I don't want to hold it.
Now watch there be a buy-out bid and I'm out of it. Been shaken out before on stocks before a big event.
Yes, I think they have a wonderful product that ultimately saves lives. But it has had a terrific run and all good things end. The kind of review this spells for future contracts cannot be positive, so I will step aside. For what I've made on this overall, the loss was small, but still, kind of hard to digest today.
I see it is making a bit of a recovery, but for now I don't think I'd bet on the upside. Good luck with it, for those who can play the bounces.
Out of all FRPT for loss on trade. Was a good run. Now I think we might see 17.
Not the only loser today. Time for me to back-off for the summer.
Yeah, I'll buy about anything. Just tell me what-the-heck it is now.
FRPT
This might be giving us a bump today. Who knows? Maybe I'll even be smart and actually trade some today instead of staring at it.
http://www.defensenews.com/story.php?F=2879605&C=mideast
Might get a second set of shares before that, though I hope not.
Got your bounce. Can it hit 23.50?
23.20...no tears now.
Same as FRPT today. You want 23.25? You got it!
I keep the 30 minute chart up. The 105 EMA was right at 23.20. Didn't do it, but it could revisit there in AH.
That it is, and I'm most glad it is without me.
Wait for a serious bargain, like close to a new low. Could still happen. I'm in "Deer in the Headlights" mode with FRPT today. Don't really want to be out of it, for they will surely have news if I bail...
Looks solid enough here. I'm looking for 23 also. My wife says she thinks max pain is closer to 20 on this one. Bet that changes.
Looks like you could make your green fees with about a 10 second hold with that one. Wait a moment...make that your house payment.
Yes, it was that news that caused the rise to 23. I had a sell there, but you think they gave it to me? Hah!
Long term, I like ELN very much and actually had it before the "death drop" a couple years ago. As far as any biotech stocks are concerned, I think it is the best. Ty is a wonderful drug and they have several things lined up for Alzheimer's down the road a bit.
Nonetheless, it seems like the most manipulated stock around, especially near options expiration. Makes for good trading.
OK, here's the deal. The "Powers that Be" will most likely want this one at 22.50 for options expiration. This sort of thing has happened many times with this particular stock, making it an excellent trader. Expiration is a little ways off for an adroit trader like yourself, but keep it in mind when trading. See how hard it sold off at 23 last time? I don't need to tell you any more, but just remind you news can move this one as quickly as any other trader. Don't see that happening soon, but you never know.
JSDA
Thought it would take a little bit of time for this one to get to my target of 17.75, but it blew through that and took me out. Now to find a re-entry point, hopefully not higher than I sold.
There's enough volatility. I'm just more concerned about an overall market sell-off. Options are difficult to trade in a fast market (for me). I did well for a while with Google, then had a rough run.
FRPT moves in both directions enough that a straddle might work out--in both directions.
If you are talking about writing them, I think it's a great idea. My wife is the expert options trader. I get somewhat frustrated and I cannot stand watching the premium evaporate when I hold them and the stock just sits there. That said, I currently hold some July puts (5s) on HSOA. Stock ain't goin' nowhere and the puts are dying... Don't have many, though, and I knew what I was getting into.
If you're looking to buy, might be a bit safer to go with the Dec 30s ($2.90, last I looked). Gives you a bit more time if we do get a summer sell-off. They don't have leaps available, so that avenue is out for the time being.
JSDA
Thanks for that one. It was this message that caused me to look at it and got a nice chunk this morning at 15. Very nice trade so far.