Hey everyone!
Nice week last week...check out my review of it here . Friday was a little tricky but Ihave a couple of swings in RGDO and ARAY that I held overnight. I'm in a bit high ($9.08) on ARAY but should be able to keep a stop under Friday's low for now, and will play it dynamically. I really liked the way it bounced off $8.87 on the 30 min trend and closed strong near $9 so I'm pretty sure the trade will work out. I also am not opposed to adding to it like I did on XOMA which worked out really well. Also if you read my weekly review you'll see I'm planning to up my size a little bit this week since last week I was a bit too aggressive on targets and I think it was mostly cause I wasn't trading big enough to satisfy myself, lol. anyway, should be a fun week and a nice end to the month...let's get it started right! Here are my plans:
RTRX - Watching for morning rush toward $23.20-23.50 to short into. If it gets a gap down I will use $22.20 as a guide to short against. The stock got sold off into the close and IBB was also quite weak on Friday so I'll be watching for follow through to the downside with a possible target of $21. In the event this does push in the morning I plan to wait for some indication of weakness...churning above $23, lower highs, something...not going to just short blindly and hope it rolls over since this does have positive news after all.
ESPR - This one could go either way but my initial inclination is down. Like RTRX I will be watching for a morning push to short into but want to see some indication of weakness, failed follow through, lower highs, etc. I could also see this squeezing since it was relatively strong compared to the biotech index and the rest of the bio sector on Friday. So my gut says down, I'd like to see it stay under $116 to confirm a short. If it breaks above $116 and holds I will consider it for a long on dips with potential $120-122 target.
NPTN - Another extended biotech that seems ready for a short. One of these days the short will actually hold but I'm not sure it's quite ready yet. Will be watching to see how it reacts around $6.40 and decide from there. If we go through $6.40 my next target area for shorting will be $6.75 and will play it on the back side.
I'm also still long RGDO, LXRX and ARAY so I'll be managing those. A few names that look nice for swings soon are TTS, QNST, BCLI and WWWW. No plans on them yet, just stalking for now. Back burner trades I have AAL short, LOCO long, HLF long, CHGG long, NDRM long, MVIS short, VSTM short.
Hope everyone has a great week and let me know if ya have any questions!
Chris
Submitted March 22, 2015 at 08:20PM by greenbartrading http://ift.tt/1GIrPRc
No comments:
Post a Comment