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Questcor Pharmaceuticals, Inc. (QCOR) Message Board

  • caffeinsomniac caffeinsomniac Jul 13, 2013 4:16 AM Flag

    FIFTY GROUP QUESTION

    How do you guys feel about resistance? Will there be another mini selloff, albeit smaller this time? A selloff this time makes no sense to me as there is much selling and more buying taking us there opposed to the gap up last time, but alas, humans like nice numbers, and I am sitting here wondering how many will sell at $50. I personally won't. Too risky trying to scalp a buck or two if it happens, just to miss out on THE BIG ONE suddenly occurring either before or definitely after earnings. Since QCOR posted earnings almost a week after Yahoo's prediction giving us more pre-earning trade time, I'm calculating we will be trading between $55 - $60 BEFORE earnings. What are your guy's thoughts?

    Sentiment: Strong Buy

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    • I've never seen a stock get squeezed. I've guessed wrong on this one twice at 44 and 50 that there would be a squeeze, yet both times it was pushed back down. So if it trades at 55 to 60 no squeeze? When will it happen, only after earnings?

    • It is #$%$ ti-ile! Seriously I think that there will be back and forth leaning to a slow rise going into earnings.

    • All I can say is if we go to $60 b4 earnings, without any news, I will be a seller of half my trading shares

    • I sure hope there is a sell off because I would love to add to my position before earnings release

      Sentiment: Strong Buy

    • How many will sell at $50? If it breaks above $50, one better hold onto the shares for a ride.

      • 1 Reply to boyyoulove
      • rovero@sbcglobal.net rovero Jul 13, 2013 1:11 PM Flag

        Why would you at $50? We're only $.70 away from $50. There is way more upward momentum in the PPS than just $50. There is still 2 1/2 weeks to go. What do you think the PPS will do once they report the numbers? Change your number to $56 - $60 and I think you'll have a discussion.

        Sentiment: Strong Buy

    • Yeah, I will sell! Have my good til cancelled, limited $150. per share order standing in the queue. In the meantime, it the price does selloff, well that is where options come into the picture. I don't do puts.
      Also, consider that if ALXN is worth a p/e of 78 with its one product then why would Q's p/e not be worth at least half that %. That my friend would put us at ~$125. per share, today. IMO someone is going to catch that similarity and buy big.
      Selling any of my shares is not a consideration as one day the light bulb will go off and there will be no looking back. I can't afford to be out for 15 minutes. In the event some get short sighted (pun intended) then I still have all my shares and an opportunity to use their stupidity by making money with options. This strategy has worked well so far.
      Jim

      Sentiment: Strong Buy

    • we'll pass $50 without even noticing it. no significance there.

      Sentiment: Buy

    • I think we are going to see one last try from the shorts before options expiration next Friday and then we will have some massive covering leading up to earnings. They made a big push last monthly options expiration, you may recall. It seems different this time, though. With the positive news about investigating ACTH for an already approved treatment for symptomatic sarcoidosis and little hints here and there about a spike in sales ("a larger than expected number of prescriptions for rheumatoid arthritis"). I think there is just far too much risk of a blow-out quarter for the shorts to be comfortable staying short. So, I see a big push this week - there is a pretty good sized open interest in options at 46, 47, and 48. So I wouldn't be surprised to see $47-48 before the week is over. I think as many shorts who can cover on this downward push, will use this last attack to cover and then I think it goes straight over $50 the week of the 22nd. I hope I am wrong (but just in case, I have a handful of $48 puts as protection and I have freed up some cash to increase my core long position with the next dip). Note - if we get a big buyer trying to jump in before earnings, shortie won't be able to do anything to move the stock downward.

      I don't see $50 as a big resistance point this time. I think the next time we cross $50 will signal the last time we ever see something in the $49s (until the 3 for 1 stock split later this year). I really like the August $60 Calls as a way to play a potential blow out in earnings.

    • I do not think there will be as much selling at the 50 mark this time around. Everybody is waiting on earnings and then there may be a possible sell off after Questcor makes a run. There are still short sellers, but they are in process of covering on the way up as long as the price is moving upward slowly.

      Sentiment: Strong Buy

 
QCOR
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