I put in market orders today (9/26) at open for DCO at both Trade King and Etrade. I was shocked to see an open (mine!) at 22.6 courtesy of Trade King and within nanoseconds (so it seems) it went back down to a normal trading range about 19.41, where I got it at Etrade. It trades 50K shares per day, so liquidity should not be an issue for about 500 shares. Charts everywhere do show that blip starting at 22.6--at Stockcharts candlesticks show white for upmoves, red for downmoves, but this s…
Today (2/25) the NYSE Bullish Percent Index has crossed below both its 23day MA and EMA, prompting purchase of SH (SP500 short ETF) offsetting long positions. Coming up on the most favorable trading days each month (27th-6th) could produce one or more whipsaws, but the signal is what it is.
Raising about 25% cash because--
1. Weekly relative strength index (RSI) at or near 70 for major indices
2. Past Feb 6 (28th-6th best monthly days) + Feb historically the second worst month of year after Sept.
Still long-term bullish for year but will hedge if indicators give signal (not yet)
A very positive 2013 January effect (all major averages over 4% this January) historically bodes well for a good year for the market (I believe historically > 80% very good year). Of course the more it is publicized, maybe the less likely it will occur. I'm still going to act according to the timing indicators I follow but with a bullish bias for the year as a whole.
AGN (virtually parent co. for MAPP), made tender off for MAPP for $25 per share (MAPP close today $15.47 before announcement), for 60% gain. At this point I'm still going to hold AGN (Levadex potential from MAPP + their lock on Botox for migraine). I've been posting here on MAPP for some time--hardly any takers....but high-five fattibutt!
SH hedge position sold to cash based on $BPNYA daily crossing above the 23d MA but not yet the 23d EMA. Potential for whipsaw but with some further upward movement will fully invest in stocks; tis the season to generally be bullish.
After the market downturn today (11/7) I was fully hedged at the close. Bullish percent indices in relation to their MA's remain firmly negative, and the PPO is not yet nearly oversold.
Masonson also gave a sell signal today (http://www.buydonthold.com/category/blog/).
Favorable calendar period--end of Oct and first week in Nov--and averages may be at a support level. Therefore, I'm lightening but not eliminating the hedge position.
See below for details: I found the increased Avonex revenue a bit surprising with the competion. Tysabri is an excellent drug for about half the MS population who are Stratify antibody-negative in particular. BG-12 now pushed back probably 3 mos with launch likely next March.
Biogen Idec Increases Revenue 6 percent to $1.4 Billion in the Third Quarter Oct 25, 2012 07:15:00 (ET) WESTON, Mass., Oct 25, 2012 (BUSINESS WIRE) -- -- Long-lasting Factor IX Hemophilia Candidate Reache…
MAP Pharmaceuticals Resubmits New Drug Application to FDA for LEVADEXÂ® Orally Inhaled Migraine Drug Oct 16, 2012 07:00:00 (ET)
MOUNTAIN VIEW, Calif., Oct. 16, 2012 /PRNewswire via COMTEX/ -- MAP Pharmaceuticals, Inc. (MAPP, Trade ) today announced that it has resubmitted its New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for LEVADEXÂ® orally inhaled migraine drug for the potential acute treatment of migraine in adults.
"We have work…
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