Can't say that I haven't missed a few over the years but once I hone in on a stock like KERX and study the charts and the day to day swings, I feel pretty comfortable doing what I am doing. My position has doubled in a few months so something is gone right!!
In the last few days I was fortunate to have been able to sell at $16.40 and buy back in again today at $15.15 ahead of tomorrow's announcement. For those of you that have been following along, this stock right now is an awesome day trade with large ranges each day. When I heard that Baupost increased their stake on Friday I looked for a possible exit point. I looked at the last three intra day highs and figured $16.50-$16-55 would be a good point so I listed a sell at $16.40 to be sure it went through ands it did. When I saw today how the market was responding to the price drop in oil, it looked look the beginning of one of those down days from the start. Once again I looked for a good buy in price. I looked at the last three intra day lows as well as the 200 DMA which was about $15.12 coming in to today and decided to list a BUY at $15.15. Well what do you know we touched down to 200 DMA plus a little and along the way I ought more shares with the profits I made 48 Hours ago. This is how you do it people. A little at a time without using your own cash! Now I have a new entry point lower than the last level heading into a nice announcement tomorrow. I already have my shares on the block at $17 as the pop on the news will not last long as everyone has known about the launch for months. If I don't reach $17 oh well I'll settle for $16.50 and do it all over again. This is not about me, I am just trying to share a quick way to increase your position by playing the ranges of this stock. Here's to a quick $1-$2 tomorrow. Ooh and don't be surprised if Baupost increases their shares again in this quarter. Wouldn't be surprised in the least if they are behind the MM dropping this one on no negative company news. Just wanted a 6% discount. Watch that negative 6% disappear tomorrow. Just follow the rules everyone!!
So the market drop today of over 200 points has nothing to do with the sell off in the energy sector because oil prices are falling again. It also has nothing to do with China trying to make an economic recovery. It has everything to do with what Ron will say about his little 1.5 Billion dollar bio tech company and whether or not they will launch in the 2014 calendar year? Yeah that must be it. I don't need to say any more. People can figure the rest out about you on their own!
The small swings are worth getting in and out of because you can make money or buy shares with the profit. Just takes some discipline to do it consistently. Good luck to all.
The stock is rebounding nicely as expected but I don't seeing it get to much above the $15.80 range today with the way the broader market is getting hit. Let's just hope that Thursday is the day they announce the launch and we can move forward one more step.
Learning how the market responds and prepares for certain events and how you use this information is what makes you a better investor. It just takes time to learn all the ins and outs of things. Especially with bio techs.
Two days ago we gapped up mildly but lost 75% of it yesterday. With the gap down today at the open, we have closed the chart from the 5th. The Baupost news is now a thing of the past and no longer is reflected in the price. As the day goes on we stay flat until lunch time and then we close the gap crested at the open today. Just another way the MM keep the price relatively the same while making profits on the buys and sells along the way. Just watch how it happens.
That's why the shorts knocked this down so hard today. They want to cover before the conference so they can be invested when the news comes out. Immediately after the news there will be a sell off and we will return to the current trading level. After all the first day of sales doesn't even get reported until Feb/15 during an earnings update. Since we are so late in the quarter now, realistic numbers won't be out until spring which will coincide with EMA announcement.
Just another D-head that spreads the same sheet around about 50 companies. Get lost loser no one believes you. Hope you can live off the pennies you made in sending out mass e-mails.
It was like it was meant to happen. On Nasdaq if you look the 1 month candle chart the 20 DMA and 50 DMA actually converged today! We actually retested the $15.25 level which then held and bounced higher and then we jumped to the $16.40 level which was a resistance level (@$16.70 +/- 0.30) before dropping back down. Very good technical trading today.
Did I call that or what? Nice pop up on good jobs number and increased stake from Seth. Hopefully we'll keep the $16 level for a few days.
KERX is not mentioned, how funny!!
Tell me what the launch means to you and how it will affect the stock sort term? I want to see if you know what you are complaining about??
They may have seen the FDA approval as more of a near term threat versus the chance of a slow launch. We are stagnant until mid 2015 IMO until EMA makes announcement and we have a few quarters of sales. Hoping to invest smart and double my shares by them with no new capital.
What can you do? Really you don't know how to deal with this. Sell your shares now, take the loss and buy back in 30 days at a new lower price. At least at that point you make money from day one going forward. There is real strong support at $15 level.
They are counting on a delay with the launch which is very common but they will spin it as something seriously wrong.
The 20 DMA, 50 DMA and the 200 DMA are all converging. Right now the PPS is between each of these averages. The hi/lo range is within about $0.40 for all three averages as well. It looks like a coiling spring is waiting to unleash which just might happen when the launch is finally announced.
Wrong! Down we go, This is old news from a few weeks ago. Not the publishing but the news in general about the results.