Frx

[riverbabe]

'Ya just gotta LOVE that vampire bat saliva. Looks like a buy here with the positive news yesterday? Maybe a short term trade? river

[New-born baby]

'Ya just gotta LOVE that vampire bat saliva. Looks like a buy here with the positive news yesterday? Maybe a short term trade? river

I don't know, River. Today's action was a black candle. Opened higher, but then sold off and finished higher than yesterday, but still lower than today's open. Kinda bearish.

Then you have that gap down from about a week ago. Yeah, FRX has traded up a little since then, but that is normal for a bear flag. That's bearish, too.

PnF gave a high pole warning on Oct 23. I have learned to respect those things. Another bear.

SO I'd have to say that if you got into this one, you'd best be setting a close stop. You have three bears staring you in the face, and I usually don't jump into a trade with three bears staring me in the face.

[riverbabe]

I don't know, River. Today's action was a black candle. Opened higher, but then sold off and finished higher than yesterday, but still lower than today's open. Kinda bearish.

Then you have that gap down from about a week ago. Yeah, FRX has traded up a little since then, but that is normal for a bear flag. That's bearish, too.

PnF gave a high pole warning on Oct 23. I have learned to respect those things. Another bear.

SO I'd have to say that if you got into this one, you'd best be setting a close stop. You have three bears staring you in the face, and I usually don't jump into a trade with three bears staring me in the face.

Actually I only mentioned it because my "real broker" today recommended it as a short term trade looking for a 7-8 point gain. He apparently is relying on the resumption of the clinical trial announced yesterday, after the sell-off (the gap down) last week when the trial was temporarily suspended. This broker is generally very reliable. He is a senior broker, works for one of the biggies and has made me a lot of money over many years. Not only that, but he knows that I have learned enough to monitor his every move. I don't have a buy confirmation yet, so maybe he is waiting for a better entry.

However, I also was a little horrified at the chart and the P/F. Your analysis is dead on and I appreciate you taking the time to look at it. This will be a real test of his judgement (and my trust), so I'll be keeping very close tabs on it. Thanks again. river

[Runner]

Looks to me as if FRX is sitting near support from a weekly chart perspective. Daily chart does not appeal to me with that gap down..

[riverbabe]

Looks to me as if FRX is sitting near support from a weekly chart perspective. Daily chart does not appeal to me with that gap down..

Thanx Runner. See previous response to NBB. I do keep in mind that my broker has access to a lot of inside professional research that us plebes aren't privilege to. I learned that from an earlier subscription to "breakout stocks" and "stocks under $10" on thestreet.com. Man, they had access to all kinds of research that didn't show up on the normally accessible news threads, and they shared it with subscribers! Just like Las Vegas. The odds are stacked in the house's favor. So, if the house professes to be working to your benefit, sometimes you just have to trust. Thanks for taking the time to comment! river

[Runner]

Well I don’t have his research that is for sure. I just have a chart in front of me. My bias is that of caution in FRX. I always view a gap down as a sign of weakness. I see next bull task is a close above 50.60.

[New-born baby]

Thanx Runner. See previous response to NBB. I do keep in mind that my broker has access to a lot of inside professional research that us plebes aren't privilege to. I learned that from an earlier subscription to "breakout stocks" and "stocks under $10" on thestreet.com. Man, they had access to all kinds of research that didn't show up on the normally accessible news threads, and they shared it with subscribers! Just like Las Vegas. The odds are stacked in the house's favor. So, if the house professes to be working to your benefit, sometimes you just have to trust. Thanks for taking the time to comment! river

Don't you just love stock market manipulation?

Anyway, I'll say this: we have serious resistance at $49.93. If FRX can clear it, then I'd be much more bullish on FRX. But remember: I only read charts.

[Runner]

Thanx Runner. See previous response to NBB. I do keep in mind that my broker has access to a lot of inside professional research that us plebes aren't privilege to. I learned that from an earlier subscription to "breakout stocks" and "stocks under $10" on thestreet.com. Man, they had access to all kinds of research that didn't show up on the normally accessible news threads, and they shared it with subscribers! Just like Las Vegas. The odds are stacked in the house's favor. So, if the house professes to be working to your benefit, sometimes you just have to trust. Thanks for taking the time to comment! river

I guess even the pro's get it wrong with all the extra research. We shall see maybe it will fill the gap and take off. I would be a little concerned if I was holding it. Then again my risk is most likely different from others.

[riverbabe]

I guess even the pro's get it wrong with all the extra research. We shall see maybe it will fill the gap and take off. I would be a little concerned if I was holding it. Then again my risk is most likely different from others.

Runner, it doesn't look good to me either! Everything is going further negative. Full stochs are going further into oversold territory. RSI is almost there. MACD is really negative, A/D ratio is decreasing, as is OBV. Lots of analysts downgrades, even with a positive earnings report and positive projections. Still selling off even with good FDA news. Not good. Not good at all.

The broker is getting a call from me first thing Monday morning. This is now too risky for me also. Will post the results here. river

[Lyehopper]

Broker-Schmoker!

I think FRX is looking like a great short play here myself....

You know River.... I fired my broker years ago.... and this is the God's honest truth, he's now delivering mail for the US Postal Service in Lynchburg VA.LOL!.... Looking back now on some of the advice he gave me (and the stocks he pumped) I see that he wasn't qualified to even be the janitor at a brokerage firm.

[New-born baby]

Runner, it doesn't look good to me either! Everything is going further negative. Full stochs are going further into oversold territory. RSI is almost there. MACD is really negative, A/D ratio is decreasing, as is OBV. Lots of analysts downgrades, even with a positive earnings report and positive projections. Still selling off even with good FDA news. Not good. Not good at all.

The broker is getting a call from me first thing Monday morning. This is now too risky for me also. Will post the results here. river

River,
You have a first rate option chain on FRX.

[riverbabe]

River,
You have a first rate option chain on FRX.

Baby, the relative options novice has to ask "what is a 'first rate option chain'"? Could I potentially make money on this POS if I sell calls? river

[riverbabe]

I think FRX is looking like a great short play here myself....

You know River.... I fired my broker years ago.... and this is the God's honest truth, he's now delivering mail for the US Postal Service in Lynchburg VA.LOL!.... Looking back now on some of the advice he gave me (and the stocks he pumped) I see that he wasn't qualified to even be the janitor at a brokerage firm.

Yeah but... this is the guy that lost only 10% in my sister-in-law's 1.5M portfolio when the big tech bubble burst! I know this because I was the executor of her will. Another brokerage (that I fired!) lost me more than 50% (a nightmare, kept selling losers and investing in worse losers). That's why I was so impressed and switched. I haven't been disappointed. He and I are on really good terms so a good discussion about any investment he suggests isn't a problem.

[New-born baby]

Baby, the relative options novice has to ask "what is a 'first rate option chain'"? Could I potentially make money on this POS if I sell calls? river

Sure. And at the least, you won't lose money. I don't know what you paid, but you can sell a $45 call and if it doesn't fall below $45 by Nov 17, it will get called away and you'll break even or make a little. If it falls further, you sell the $40 call and hold the $45 call for extra profit.

I'd sell a call on this one Monday. I would not allow myself to get in a hole that I can't get out of without a lot of pain.

Another play: sell the call and buy a put.

Give me the entry price and we can at least suggest a play.

[riverbabe]

duplicate, sorry