I like to GNR8NRG
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Lovely start to the day. Didn't hold 24.50, currently 24.33 so need to stay above 24.50 or probably go back to forming that cup and handle. I'm not complaining, either way I made some moves that paid off very well. If it does consolidate 26.50 or maybe even 28's could be on deck...
Chart looked good and AGN buyout timing was perfect for a POP. Thursday last week and this week Tuesday. Almost bought some AGN calls yesterday 150 for mid August for 1.37 which went over 20 this morning. That would have been really lucky. LOL
Biotech in play for the day but overall market might slow the roll.
New 52 week high of .22
About time this thing woke up...
Well not flying higher yet but still might soon IMO...
50 DMA @ 23.34 and we bounced 23.35 so far today.
Looks like were going to form a handle to the cup if we keep bouncing off the 50 this week.
6 month chart looking a lot like what's happening now but from a little higher PPS.
China, Iran, FED all factors to wiping out all of these possibilities. LOL
At 23.82 we are over the
50 DMA @ 23.39 &
200 DMA @ 23.73
Could easily trade up to 26.50 this week with China progress but one wrong tweet and 22.50 is also possible being we were below that just last week.
I think under 23 and form a handle to form a cup and handle then 26.50 and pull back before ER. Chart from 6 months ago but at higher PPS if were lucky.
Chart looks good at the moment
6 weeks later we had to pop back up to 24.52 on Thursday from around 20.50 low.
TEVA @ 8.45 on Friday
MNK @ 8.97
Overall market right at all time highs.
Biotech BEATDOWN!!!
ENDP under 4
MYL @ 18.32
At some point, biotech is going to be the place to be. When is anybody's guess...
BYND is beyond comprehension.
I was buying calls (BHC) ever since we broke around 22.50 down to 20.50 and sold all those once we broke over 24 Thursday. Still might push to 26.50 but also could go back to 22.50 test.
This is a trading vehicle that one day will break out but until then it really is range bound.
Mostly in cash to be nimble myself. When the music stops there will probably be less than 10 chairs for over a hundred playing the game. China talk will probably support prices this week but will break down and market will follow. I just don't think either country has felt enough pressure to get a deal done yet.
Yes trading is addictive.
It's Bizaro year.
Sell in May and go away has flipped as the Santa Claus rally flipped too. Looks like they want to push to new highs after a 7% decline recently is already up 5% from that correction.
BHC up 3% earlier today but was lagging the other biotechs on the bounce last week.
Jack be nimble, Jack be quick. BYND will burn off Jacks .... doh...
Nice day but probably not going to keep the DEATH CROSS from happening.
https://stockcharts.com/h-sc/ui?s=BHC
Always stalls 22.50 so not expecting too much but even if DC happens the stock still went higher last time it did it. Also looks like a cup and handle will form once we hit 22.50 stall.
Honestly I don't see how this is under 25 so anything can happen including positives. Waiting for debt payment or word on what they might do with the cash on hand.
And sell off 8.50 because....Well, we will...
This is a bargain but ATM machine is 'still in effect'
Billy Idol said it best...
'Dancing with myself oh oh oh ohhhooo'
Amazon I'd put under 'tech' because I only buy books from them but know sooooooo many who use it for so much more. Retail for me but investing 'tech' but I'm 'slow on the uptick' and not an 'early adopter' I can wait for the cycle to fade because I can. LOL
Love hearing about your CC's and options action. I've been on vacation for almost two weeks so I'm surprised we didn't break 40's here with BHC. LOL
Thing always POPPED when I went on vacations because I couldn't pay attention as much.
This vacay has been 'eye opening' to say the least. In Nor Cal my job market 'heathcare' is on fire with peeps clawing to get me to work a 2nd job. However part of this vacation I went to San Diego and went to Horton Plaza which is almost EMPTY of stores and was quite the hub when I lived there early 2000's before that was constructed the area known as 'The Gaslamp' was a shitehole where homeless, hookers and seedy shops were all that were there. Horton opened and changed the area into bars, eateries and upscale hotels.... It looks like it's slipping back and that is a HUGE RED FLAG in the real world that hasn't 'hit' the market let alone perception.
I'm almost completely out of the market except for a tiny gold company a friend invested in the creators decades ago and became a millionaire with 10,000. Lightning usually doesn't strike twice but I risked a little in case gold goes up or if they get another 'nugget' like before.
BHC, TEVA, MNK, MYL soooo many bio's look too good and I mean REALLY GOOD but something doesn't seem 'right' to me and if I 'play' much more it will be options for 'events' and exit.
Good luck to you and hopefully I'll keep reading your action as we know this puppy has some VOL to play with.
Also got the 'Sell in May and go away' crowd. Though it could be bizarro world as 'Santa rally' didn't happen it was Santa sale. LOL Buy in May and go away?!? Overall market is just at that point where it's all worrisome to just 'buy/hold/forget'
Added some calls for a taste once it was down -14%
I was watching and played that bounce last week but got out only a few cents ahead. Glad I didn't hold and not planning on trying that with overall market looking to correct.
Tempted to buy TEVA on todays -12% below 12.50 but just not feeling like buying anything yet. MNK down -8% and BHC -3% Biotech blood bath. Looking to add once we rally on some BS tweet later this week but probably won't hold. Air for the 'bubble' and I'll trade it as such...
Down 3% to 24.52 so far today.
Not as bad as TEVA -12% to 12.62 on US going after price hikes
MNK -8% under 15 but was 14.5 on their news less than 30 days ago.
So we're hanging in pretty good with overall market down -2% so far...
Good call
Agreed but before delays we were over 26. Now still under with approval and good ER with raise. Should move up if tomorrow isn't another market beat down.
BHC has been it's typical self. LOL
BHC & TEVA use to correlate 4 bucks and switch off one leads then the other. It was quite profitable with trading calls between the two after one would POP and the other showed signs of wanting to pop too. However now it's over 10 almost 11 in difference
BHC 25.49 / TEVA 14.61 Today was a bloody red day. MNK had good ER up 9% in AH and sold down almost 2% today. Biotech not getting much love these days and nothing looks like a buy and hold with POTUS tweeting at any time. LOL
All 3 of those stocks look good to me long term but that doesn't mean they won't go lower if Friday comes and Trump does what he says. That blood bath I'd add into at some point (-30% overall market correction) as I'd expect a week of that pressure would get both sides to hammer out an agreement even if it's for a few years. I wonder if BHC would have done much better had we not gotten tweeted over the weekend. Can someone just buy us out for 45 already?!?!!!
22.77 was today's low 23.50 the high at the end of the day.
100-Day 23.51
200-Day 23.62
Need to go above and close above those if we don't want to test 22.50 before ER. Duobrii is really pissing me off and holding us back from making a new 52 week high. ARGH!!! Always over 26 when news is expected and always falls when there is no UPDATE!!!
They need to address the situation on the ER call.
It should break 26.50 if that holds 28.50 is new high and where old resistance lies.
Duobrii is LONG overdue. Nothing 'soon' about it. No news on it creates uncertainty and why we don't leave 25's behind for good. If one buys once it hits 22 and sells when it hits 26 one could just trade this puppy all year long.
At some point it will break out and head to a new trading range (hopefully in 30's but we'll see)or overall market correction and GS gets their target and it becomes buy 15 sell 18
Nice bounce today. GS was 16 if I recall. After ER I expect to hear them say 25-30 but the stock will be at 35-38. LOL They want their shares too... =P
Please don't wake me from my beautiful dream...
Hit 22.79 today and looking like it might break below 20. Not looking good until ER
'the most hated stock on Wall Street.' We were and it's taking a LONGGGG TIMEEEE getting that funk off of us.
I agree we should be in the 30's and everytime I think we will never see 25 again we find a way to go lower. LOL Ah this SUCKS but not unexpected to be honest... Just got to keep
It's what we do unfortunately. 22.50 next stop probably. Maybe 200 DMA stops us (23.61 at moment) but not looking good in the short term. Heading lower before ER.
I expected word on Duobrii today and I expected approval. Without that were getting taken out back to the shed for a few weeks.
More good news...
https://www.markets.co/bausch-health-companies-inc-bhc-received-its-third-buy-in-a-row-2/205108/
Also forgot to mention that the dip after the open was good because it filled the gap. Would love that 41 dollar target and 38 was resistance back when we first broke down years ago. 38 will be hard to break without significant news...
26.77 was the high. Chart still looking good for a run. RSI not too high and a pull back day would give it some momo. 30 is only 15% from today's 26.15 close and approval is coming 'soon' so...
Approval
ER
Raise guidance with SGYP assets?
Salix offer with added assets?
Alcon spin off give us a clearer picture of our value? Do we spin off Salix?
Lots of variables that could go our way but whatever high we reach I doubt it holds because we never do...
Chart/upgrades looking good to test 30 before ER but will probably pull back from whatever new high we make.
https://stockcharts.com/h-sc/ui?s=BHC
25.12 was last weeks close so another 15% move is 28.89 and a new high so a push to 30 wouldn't be out of the question. Doubt we stay above 32.50 before a pull back to 28/28.50 but hopefully this is the last week BHC has 25's to start the PPS...Probably not but looking forward to the ER early May. =)
You were probably joking but 50 million offering will do that...Not good
Well today was interesting. Looked more similar to the November chart I mentioned but didn't touch the 50DMA that currently is @ 24.01 but did sell off hard in the morning open and went lower than yesterday's low (hit 24.64 today) which was close to the day before's high. So hammered early down about 6.5% but came back and ended the day down 3.5% which is encouraging IMO but you never know with VRX/BHC...Looks to me that somebody wanted in and took it down to do so. Good volume the past few days. 7 today 8 yesterday and 5 or so before that. Most recent volume that was higher was day before, of and after the delay of Duobrii.
Chart still looking good IMO but still can test those 50/200DMA's (23.59/200)
California, Vegas all going down with real estate prices as of late but Reno still increasing. Colorado Springs looks the same but I don't watch that as much as I do the others. Biotech getting some attention and a slow move up. Golden Cross about to happen on all the other averages DOW/S&P etc. So very well could have another leg higher but if 30% like last golden cross then I'm out and on the sidelines if not shorting/buying puts. Would rather just stay out but you never know.v BHC got 15% on it's golden cross before today's 6.5% down ending 3.5% down for the day. It's all just gambling instead of investing since 2012 IMO.
Today's high of 26.34 is 3.55 higher than the 22.79 low I mentioned. Still might have more to run but the DOW dip on the China news made me sell my April 25 calls for a 180% profit. I wanted to keep them but the beatdown we took in December had China written all over it. Still holding other BHC interests as I'm rarely out of this play, but a 15% move in that short span of time just because of the chart was a gift I accepted. Hope we go higher and make new highs before approval or next ER. Such a fun ride when it goes your way. =)
Keep an eye on the 50DMA if we dip. 23.95 as of this moment 200@ 23.58 A nice bounce off that 50DMA would look similar to November run with a slight test. Could also just keep beasting like early January chart. Basically chart looks promising and approval/ER/SH meeting all on the horizon. =)
Today's low open and climb throughout the day looked really good. Held above 22.50 with 22.79 being today's low but could always test it again.
50DMA started moving up quick and should get a golden cross next week. Dec dip almost looks like the Head of an inverted H&S pattern with is also good. If Duobrii gets approval, loans all done, management buying shares, price targets raised and much higher than where we trade. Lots of good possibilities but history shows us to always be cautious with this one.
One of these days we will run. Maybe before ER to pull back before ER and if ER gets a beat and raise a gap up would be nice. =)
Since that cup and handle we slightly broke the 22.50 (I think by .05) after not getting approval or denial that was expected on the 15th. We got 'soon' WTF?!?
Otherwise bounced off that nicely and we're in that 22-24 channel with a possible golden cross on the horizon.
https://stockcharts.com/h-sc/ui?s=BHC
If we go back to 26 we might be forming n inverse head and shoulders before that cross but being this is all BS, unpredictable and I'm talking to myself...Well just call up the funny pharm and give me some juice. (electric chair, steroids, OJ, to which juice to which does he refer?) Working 88 hours a week can make a person get a little whacky. LOL
Megatron said he talks to himself because it's the only way to have some intelligent conversation around here...crickets chirping...Bueller...Bueller...
Captain Hindsight here. So the Dec dip formed a cup and handle right before the death cross and we hit 26's because of the C&H. The question is does it follow the death cross or did the cup and handle break that? I've got no clue but nothing is surprising with this stock.
Chart looking good. Over 23 again (23.09) and 23.45 is current 100DMA but were above all other DMA's
17.20 was our most recent low. So 75% would be 30.10 but it still has to get through the DMA/past resistances. Past 22.50 as of now which is good need to break 24 then 27.50 and hold over 28. If it did that before the dump I think 35-36 was possible with 32.5 for sure but all those past levels breaking down to 17.20 probably means were in for the usual 'bumpy ride. We should be use to that by now though. LOL
Hit over 23 this morning for a 33% gain from recent low. I'd expect profit taking but were so undervalued so who knows.
"major financial collapse" gets my vote. We've been propped up since 2012 and it's finally going to 'adjust' or 'correct' as they say. There will be POPS but markets were ignoring bad things for years. Now it's sell the rumor, sell harder the news. No worries it's just a 'cycle' and well make new highs some years down the road after getting discount prices like we have the past few weeks. Time to trade, not buy and hold.
Biotech is getting taken out to the shed. MNK, BHC, TEVA, PGNX not a singe one is holding up in this market. I don't think this is tax selling at all...This is a beat down til they can't go down another penny. So tempting to add but all charts are broken and there's no bottom in sight until it bounces. We went under 18. 18!!! So undervalued but it doesn't matter as it looks like the world is coming to an end by the way the bios are acting. That or 420 cures EVERYTHING and bios are all BK. LOL