CELG Almost 600% volume increase!!!

Discussion in 'Stocks' started by $CostAverageMAN, Dec 21, 2007.

  1. 1st....I will start by saying good morning....And happy quadruple witching to you...

    2nd....This opinion is not as much of an outlook of the stock, but a recap of what I am always looking for in a day/swing trade.....

    3rd....My opinion is biased since I am currently long this company....

    4th...SORRY I didn't post that it was a screaming buy when It was trading at $42.XX.....But I quit doing that and It lasted about 30 seconds((((Some good calls some bad on this site....And I don't want to be responsible for influencing anyones trading day))))


    So why DID CELGENE GIVE ME A 17.3% return on my low buy print and high sell print?.....(answer: LUCK)

    I'm always trying to watch as many stocks as this old man possibly can, but today I was watching weakness to buy the dip like I sometimes do.....I had an open buy limit order for Celgene at 44.35 and it looked like it was getting close.....As I'm putting in other limit orders lower the volume is exploding....I mean it's like 9:40am and the stock is at 200% increase in Avg. volume already.....The stock is IN PLAY..... I gather my self together and put some size into the trade.....I watch 2 more limit orders fill in the same minute as they were more than 2% away from each other @ 43.10 and 42.25......The stock was cratering fast, down around 12% for the day......I remember thinking that this was a massive fight between Goldman Sacs, Janus, and Fidelity trying to buy as much as they could at the 52 week low while Citadel and other hedge funds were trying to close out those Dec. puts as fast as possible.....All the while I'm sitting with a brand new 7700 shares....When the BID/Covering came in the stock had moved from 41 back to 44 in about 6 minutes...The moved had filled half the gap and I figured the penny flippers would take the move and move on...They did as I got another nice size fill back at 43.12....It wasn't a minute later and I'm back at 42.XX with what is looking like a wash trade----- :( ......We have all been there.....When A group of white nights came in and bid up like 750K shares in a minute......It never looked back and I kept picking up shares in that morning run higher.....

    The point if there is one to this life event is that when you are witnessing some really big players get in on some massive mis-pricing of a security and your long and short term technical indicators tell you to get long....Do It...

    Anyone like the move on "N" today.....I imagine some of you guys played that one today as well....

    $COSTAverageMAN