My2nd: Yah....ARIA is intriguing....but excepting for a small "nibble" of a position so to keep me focused I'm basically just watching it. I'm trying to get a "feel" for its action....I know...very hi tech of me, eh? Heh! Anyway...I don't get the sense that I need to chase it....I know the bio-tech world well enough (from a trading/investing stand-point) to know that it still has some ways to go....with no assurances of success....but regardless...they're intriguing. Another one I AM playing heavily right now is OPK. That one has intrigue painted all over it, if only from the size of the holdings of principle insiders. There's a lot percolating with that one right now....but like I said..I'm playing it heavily...or as heavily as its trading nature allows...so consider the source. G/L!
Yah....the only caveat I can think of is that it's usually about the time you get complacent and think it'll swoon or do as it always does that it goes on to violate the norm you've felt is long established. Like..for instance...bid gathering steam at $14.78 right now. There's still over an hour left in the day so it could easily get yanked...but what're the odds our complacency is setting up to be...violated? Heh!
HA! My sympathies. I think I made clear some time ago that at every opportunity I'm on the short side of some of those tech darlings. NFLX is one. Now looking to deploy some profits from that gambit...using any weakness in BAC to add to an intermediate term (meaing 3-6 month) position while trading around it..doing the same in a variety of other plays I find interesting, too. The avatar/threadster named Trader made mention of ARIA...which is an intriguing possibility based on some initial due dilly done...
For now I think Master has topped the Pooch...he's gotten well north of the former channel it had been within so I won't be surprised by a bit of consolidation sinking the bid back by some percentage to the top of that channel. But so long as it holds north of the $14.teens then the longer term upside potential remains intact. Regardless it will be the usual churn game. GS's $17 is nice...but that's a 52 week target...which means $17 might get hit sometime in 2017.....in a turn of phrase the Poochie ain't no rocket going for the moon. But we know this by now don't we? ;-)
Good call so far on the resistance line....it might be shaping up as support....but this is BAC...and there's still the afternoon. Lots of time for more mischief. Let's see how it plays. Bid $14.72.
Yup. It's a channel game. In this case the channel is ~$10.95 to ~$11.05. Any time the buy side puts on a surge the sell side grabs and axe and knee-caps the bid. And any time the sell side tries to do a downside push the buying stiffens it. In effect things are being consolidated. I don't know when it will end....but I suspect it'll be this way for a time. So for now I'll just set my "set up" indicators to kick me an alarm and go play at other "tables." This one ain't about to run away in either direction...for now. ;-) Bid $10.95.
Well if you're watching the opening hours action you can see the mischief. Yank the bid to $10.93, then float it to ~$11.09 then drop +50K worth of shares on the bid and hammer it back to $10.94. All this in the first hour. Bid now .98. Did I mention the potential for mischief with this equity?
Within 52 weeks? That's ~18% upside from here (~$14.70). I'll take it? ;-)
Current bid falling back off opening surge. $14.66
Who knows? It's all in the buy/sell action as is visible to the power players who then control the bid/ask dynamic. And most certainly they have other resources to bring to bear. Dark pools, etc.. Hell...one side can pick up the phone and call the other side to coordinate. Anyway, the final 30 yesterday, to me, was indicative of someone having a large buy/sell transaction to effect at a (then) lower price than the bid was at, so they set about walking it south to effect it. No big deal, it happens all the time. For now I'd say today will be another day of sideways churn around the $11 line. Smoke 'em if you like 'em...for now it doesn't appear the market is interested in shoving the bid down or up....more just churn it....bid $10.98.
And there it is....at 16:01:23. The way the sell side was dropping boat-anchors on the bid my WAG was there just had to be a puppy rummaging around looking to fill out a low-ball order or something like that...sure enough...+1 minute after session closes what ziggies across the "tape?" A BIG block sell....big for this equity...a 63,216 block sell goes across at.....$10.93. Exactly where the bid was walked down to (from $11) in the final 10 minutes. Did I mention mischief?
Nah...not playing the short side with this one. Just ain't "up to speed" on all the particulars yet... Not that this stops me from trading it at the proper time. ;-)
Don't know from move, or run, or dump, but for now the action makes clear the sell sides agenda is to keep the bid at or south of $11. They started stacking the ask high at $11 on the last attempt to get north of that line, and are now ratcheting their stack south with every penny drop in the bid from it. Bid now $10.96. There's also a lot of...for lack of a better descriptor...dark pool action going in in that the bid/ask shows are constantly fluttering yet real-time last sales indicators barely move...and when they do they print only small stuff. It's like watching puppies rummage about under a blanket. You know they're up to mischief...you just can't make out its exact nature. But for now one thing is clear....$11 is the "here and no further" line....
Bid just got dropped to $10.94.
JD: Thanks. For having just started tracking the equity/company I'm a little "short" on the hard data. Phase 3 is good. Having an approval is better. ;-)
Mence: In terms of actually effecting the intraday action in the pps probably not. I'd imagine whoever he is using to effect the buys is making sure to dribble the orders in at some predetermined pps so to not roil the bid. I can guarantee they are not "at market" orders, eh? That said, as a statement of sentiment it doesn't hurt the pps of the equity when the market knows such as he are buying large the common on the open market. It sends a signal that's hard to ignore...and truly hard when the pps is at the lower end of a 52 week range.
Just some thoughts while watching the sell side sit on the $11 ask. Bid $10.99 and going nowhere upwards right now for being blocked by that ask....
I think you'll sooner see us....ummm.....that's the collective, societal "us" not those on this thread, heh.....anyway...you'll sooner see us mining minerals on the Moon before you see a significant reduction in that float. A float that is well beyond the absurd line.
Speaking of which....did you catch CNBC just now? They were talking to some guy who's all twitchy to mine minerals on the Moon. I suppose that day will come.....though I suspect we're still a ways from even having established "railway/shipping lines" from here to there much less being able to entertain the idea of some California-styled gold rush with settlers running out there (up there?) in their "Conestoga wagons" screaming "there's GOLD in them THAR HILLS...let me AT IT I'm gonna be rich, RICH!"
But then again greed and avarice are prime motivators of the species...who knows? Elon Musk may be indicative of a new breed at once old yet new again? ;-) Meanwhile, bid $14.41.
Leaving aside the said insider is human and puts his pants on the same way as you and me I'll have to say I agree. All else being equal always pay attention to the play of the Big Kahuna. It's a big tell on future direction of the pps.
But that said I'll also say this...never go "all in" on any one position in this game. Never swing for the fences (so to speak). Always spread it (your hard earned money) around...because until the fat lady actually sings you just don't know how it all plays out. You're betting on the "come." Doing such does have it's deadly aspects....especially in the bio-tech's, the sector landscape of which is littered with the wreckage of other companies (in the day potential hi-flyers) that crashed and burned...So it could happen with OPK, too.
Regardless, for now....ain't it excitin' thinking about the potential? ;-) Bid $11.04.
All of that's nice. But in recognizing that these are developmental stages...Phases I/II/III, with each taking a minimum of +1 year at the end of which there's upwards of a years review before the FDA sanctions the product how long, from today's date, before there's a bonafide product being sold? Excitement over potential is never a bad thing...but realism dictates (for me) how long it lasts in the face of the "when" of having a bonafide product being sold...
200M shares bought sounds impressive...and it ain't small...but in the context of the size, the scale, of the shares outstanding (+10 BILLION of 'em) it's really not much at all....what are those 200M shares....2% of total float? Wake me when they reduce that float by HALF! ;-)
Bid being walked back down in typical fashion....should have held my short open longer. $14.34.
Just like that bid now .38 with the .39 ask showing 3 to 1 larger than the bid. Discretion is the better part of bird-in-hand trading so I am OUT that short here. Got me +10. Now waiting for an buy side signal....you probably know the drill well by now. Those $14.teens beckon...so I'm running down to around the intraday flat line and waving a big one just to seen if I can entice....