BWLD is gapping up into a damaged chart, while TWTR is gapping down and weakening its own one considerably.
ACHN looks like it is breaking higher without me, though it has a major announcement coming soon.
Facebook, once again, is firm in front of earnings tonight.
I am still sitting in cash and waiting for better spots to get involved, most likely after the Fed tomorrow. Nonetheless, you can see the danger of shorting this market (as far as indices go), given the runaway nature of the biotechnology and transportation stocks.
Unless and until they reverse, I am keeping it tight.
What are you trading this morning?
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$JJG, $GOGO, $BREW, $REED & $ORB
Good book, sir.
Stock gods unexpectedly blessed my RCPT and got me out of a BWLD hole dug by an incompetent analyst a few weeks ago. Bought RHT.
Chess – still in cash, but stalking the GM short – seems a tad early. Wouldn’t surprise me if it touches 31.50
Good man, Unc
Caught a knife with BAS was up 6% yesterday then opened down today due to Wells Fargo downgrade. Gotta watch this one closely if it breaks below it’s 52 week low I’ll sell. Other oil related energy names are up today.
Bought ACHN this morning. Do you recon there is a risk owning into the announcement this week?
Definite risk. Anyone who says otherwise is lying.
See: ARWR.
So I’m contemplating averaging down my cost basis in BAS this morning as I see it hit 12.17 and my average is 12.42. I’m thinking opportunity but I wait to see if it trades down even more. Of course I come back 5 minutes later and it’s up 4%…lol
I still think this move is wayyy overdone
Good work, Danny
Huge risk in biotech announcements 50/50 you could lose 70% or gain 200%…lol
Roll the Dice
I guess what I mean is, in your opinion, could the announcement already be built in? Risk/reward worth holding through?