Yup, except BTFD won't work next week. It'll be fun watching them try though!
Day trader's paradise the past week or so, congrats. Holding positions (granted, I was lucky to sell most of my SPY shorts around the Europe close before the - shocker - volumeless ramp this afternoon) has been the suck.
Sentiment: Strong Sell
No doubt, I picked up some June 45s for pennies on the dollar. The SNB owns a ridiculous amount of these shares, so they float a #$%$ rumor out there to ramp the stock - CB manipulation, well there's a shocker.
I took a shot today, even though there was really very little compelling reason on the charts to do so (in my case, it was at the top of the channel/wedge connecting the highs from 12/8, 12/19 and 1/13 once it poked above $323, on hourly charts).
Bought a few of the Feb 27 315s at around $9.20......which probably means it's on its way to $350!
From my briefing ticker:
•Hearing suggestion that the decline was due to the co mentioning it is exiting the non-invasive prenatal test (NIPT) business; others saying the FY15 rev guidance was disappointing
Strange if it's the guidance though, as they guided Q4 revs of $512mm at the JPM Conference vs. $504mm estimates....of course, it's also recovered 11.5 points of the losses as I type this.
They'll probably reverse it right back down too, after more people have piled back in on the "buying opportunity", which has proven to be an excellent short-term trade so far.
Folks, I am admittedly wrong almost daily, but you want to watch this stock VERY closely around the 100 and 50MA (that is, assuming getting through the 20MA is no issue). I am especially concerned for longs given the multiple splits in recent months. That is often a recipe for disaster, as people who have doubled and tripled their investment dollars head for the hills at the same time.
You have to think there are people that watched huge gains wiped out in a matter of 2 weeks now looking to get out as prices have risen back up. Just my $0.02, good luck all.
The rise from midday did nothing more than provide the proper entry point for the short trade. This will end a couple bucks off the day's lows.
Just curious, why do you think that? I think it will test the $215 level again - and possibly form a double bottom - before it hits $300.
I don't like the parabolic move (looks like a Wave 3) then hard sell off (likely a Wave 4) in volume and it's now having some trouble breaking much above the prior top on a very low-vol upside move. Not that the markets have given too much of a #$%$ about low volume moves over the past 5 years!
I took a shot at IBB puts today around the double top level. It's moved about a quarter in the "wrong" direction so far....guess the dip buyers are effectively "fighting the Fed" given Yellen's biotech comments several weeks ago, but then again, the M&A in this sector has been rather stout the past couple weeks.
Will need to close my puts if it gets much above $277
In its earnings release co stated, "In the fourth quarter of 2013, the Company identified an accounting overstatement relating to share based compensation expense in the unaudited financial results for the three months and nine months ended September 30, 2013 as previously reported in the Company's quarterly result announcement on Form 6-K dated November 12, 2013. This overstatement resulted from two clerical errors in the calculation of the share-based compensation expense and caused the overstatement of the share based compensation expense in the unaudited financial results for the three months and nine months ended September 30, 2013. Therefore, the Company has revised the unaudited financial results for the three months and nine months ended September 30, 2013 to reflect the impact of the correction."
"Correction of the overstatement in the Company's unaudited interim condensed consolidation statements of comprehensive income for the three months ended September 30, 2013 resulted in a reduction of $369,624 in the amount reported for general and administrative expenses and correspondingly resulted in a reduction of $369,624 in the amount reported for net loss attributable to NQ Mobile Inc. and a reduction of $0.0013 in the amounts reported for both basic net loss per share and diluted net loss per share attributable to NQ Mobile Inc., as compared to the amounts reported in the Company's previously announced quarterly result on Form 6-K for the three months ended September 30, 2013. Correction of the error in the Company's unaudited condensed consolidated balance sheets as of September 30, 2013 resulted in an increase of $369,624 in additional paid-in capital, as compared to the corresponding amounts reported in the Company's announced quarterly result on Form 6-K."
You've got balls, I'll give you that. Giving up your stodgy dividend payers (and I own INTC and think you may well have sold that one in a great spot, with a potential double top) for a momo stock the day of earnings.
I'd wish you luck but am on the other side of the NQ trade - fwiw, that's probably a good thing for you!