SNEN, I plan to get back in the stock on the dip. I think it is in a consolidation before next leg up. The P/E for the stock is in single digit with fantastic growth rate. There was a short on the stock, he piled up ask with fake ARCA ask orders if anyone watched level 2, he tried to scary the buyers. There are several big buyers - Roth Capital (ROTH) and CRTC. Here are the charts, on the hourly chart, support at $2.45. On the daily chart, it has more room to go TA wise, definitely a buy on dip, it is just a matter of when it stops sliding. 2.46 and 2.34 supports on the daily chart, if the new support is being tested and tested, I'll take another short-term positon. SNEN recent guidance: http://biz.yahoo.com/prnews/070420/cnf011.html?.v=15
I like to take the risk of holding some DNDN over its FDA offical response on its cancer drug. It had been in a very narrow trading range yesterday around $15. Probable some accumulation is going on. A runup before the final FDA decision is expected.
Posted my thoughts on AMZN last night. I think the max high it could go is $62s based on 50 period HMA on the hourly chart. If I trade AMZN, I wait and short on any runup, not going long. http://www.elitetrader.com/vb/showthread.php?s=&threadid=92879&perpage=6&pagenumber=12
Today - most gains were made from my overnight holdings on DNDN stock and the QQQQ puts. Made little on AMZN. Clearly, think ahead and plan the trade is the way to go. Bought some SOHU calls, I hope SOHU have good earnings tonight. Today: Yesterday:
SOHU earnings is out and down $2.4 to $23. Looks like my four $25 calls will be toasted. Well, win some and lose some, glad took out some profits yesterday. SOHU is certainly not following some of other Chinese ADRs.
Thanks DNDN for another great day. Sold its June $20 calls (+UKOFD) when DNDN popped up. Bought these calls back in the last hour. I expect DNDN to make another run tomorrow. I made a little bounce play on SOHU. I should have banked on ASF. I studied its chart last night and knew it was about to make a breakout. I bought it at the open, but I was too hestitated to sell and holded too long, I didn't sell at $34.9. I think I messed up my strategy. On the one hand, I think it was about to run to $36s, on the other hand, I don't want to hold it overnight. Things won't happen in one day. I might jump back into ASF tomorrow if technicals still look good. SBUX earnings tonight, not sure if it would go up or not. VRSN earnings will be out too. Have some SBUX and VRSN calls, very smal position, not much to lose. NVEC always run on earnings too. I forgot to buy any calls. ASF charts: http://www.elitetrader.com/vb/showthread.php?s=&threadid=93449
Not sure if any bought SNEN yesterday. SNEN dropped to $2.31, right at the last support. Today it has been traded at $2.60 forever with almost one million shares, no idea what's going on - accumulation or distribution? I've not looked at its charts.
DNDN chart again. Very solid support @ 15s. Notice the volume change signal on yesterday's candle, it is just the opposite of the blue candle when it was topped, selling exhaustion (bottom) vs buying exhaustion (top), from the chart, I see it could go to $19 before the FDA decision.
I wish I could find a place to discuss potential plays and exchange ideas with some intelligent traders. Plan ahead and make $$ together. I've been in several chat rooms, but most talks in these chat rooms are B.S. Few constructive discussions. I am wondering if ET has any good thread to discuss this type of trading. I see most just talk YM/NQ/ES/ER2 etc.... I feel I don't need this thread and talk to myself anymore. it is quite boring. I feel motivated and confident in my trading, I would love to see if there are good traders around and what stocks they're trading.