Skiracer's stock slopes

[wooish]

C gapped up today and the highest pps is 4.35 but it's now hovering at the low of the day (bearish) @ around 4.19. If by 3:50PM and it's closing below $4.23 (50MA) I might buy myself some puts.

[skiracer]

C gapped up today and the highest pps is 4.35 but it's now hovering at the low of the day (bearish) @ around 4.19. If by 3:50PM and it's closing below $4.23 (50MA) I might buy myself some puts.

here is an excellent example of why i took the gains from those puts last friday and ran. the market is all piss and vinegar over the Greece bailout and goes up 400+ pts and 2/3 of my gains would have been wiped out on some stupid optimism that isnt going to hold anyway because the sentiment right now is to the short side not because of Greece but because of those 7.7 bil shares the govt is selling off. ive been sitting here watching it stall out on a day when the market is up over 350 pts it should be up a whole point or more dont you think. people have be subtly unloading into this strength and now at the end of the day it is starting to show with the price dropping. as i write this it is now under $4.20 and the june 10 4 put went from .15 to .20 in the last hour or so.

[wooish]

C still holding up well, I'm not quite sure about going long or short on this one.

[skiracer]

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i bought ALXA this afternoon at $3.57. just reported earnings which were -$11.9 mil. had no revenues yet but is generating alot of interest from Biovail for several of the drugs in ALXA's pipeline and they are providing 20 mil to ALXA for further R&D. they have also just secured another $15 mil in a line of credit. barchart.com's opinion is "strong buy". i like the chart with the crossover of the 50 ema by the 20 and with price breaking thru its 100 ema at $3.40. i think it has a real good chance of breaching $5 which would really be good because then it would be available to more funds.

[billyjoe]

Ski,
With a stock like ALXA the potential reward far outweighs the risk. These are the types of setups I look for with my non conservative funds. Thanks for posting.

-------------billy

[skiracer]

Ski,
With a stock like ALXA the potential reward far outweighs the risk. These are the types of setups I look for with my non conservative funds. Thanks for posting.

-------------billy

well pete brought it to the forum in his post and river kind of acknowledged it with her comments. i've been watching it since i first saw it on pete's thread. its got some strength in it with the drugs in its pipeline. and its cheap right now. you're absolutely right though billy, the potential for reward far outweighs the risk. easily 5-6 to 1. it closed today at its high of the day.

[riverbabe]

Alxa

Just a reminder about the Oct. 11th (or before) date for FDA approval. If the drug is approved for sale, the stock should sky rocket for a day or two while the inevitable short squeeze plays out.

BUT, if approval is not absolutely a yes, the stock will immediately plummet faster than Ski on a double diamond trail. Stops might not help a lot. Remember the panic selling in RNN!

So please take that risk into your risk/reward equation!

Or cash out on a rise in the price a few days before the expected announcement. (And remember, DNDN's announcement came a day before their due date.)

(And Ski, although Pete mentioned it first, I think it was me who first told you about its potential, and that I was buying it.) River

[skiracer]

Just a reminder about the Oct. 11th (or before) date for FDA approval. If the drug is approved for sale, the stock should sky rocket for a day or two while the inevitable short squeeze plays out.

BUT, if approval is not absolutely a yes, the stock will immediately plummet faster than Ski on a double diamond trail. Stops might not help a lot. Remember the panic selling in RNN!

So please take that risk into your risk/reward equation!

Or cash out on a rise in the price a few days before the expected announcement. (And remember, DNDN's announcement came a day before their due date.)

(And Ski, although Pete mentioned it first, I think it was me who first told you about its potential, and that I was buying it.) River

sorry that i didnt acknowledge that point river. you were the first one to mention its potential to me.

[billyjoe]

Ski,
How about a chart and update on NJR? I want more but need a good entry point. Thanks

------------billy

[skiracer]

Ski,
How about a chart and update on NJR? I want more but need a good entry point. Thanks

------------billy

NJR up to $38.12. as soon as i can billy. did you pick up any of ALXA?

[billyjoe]

NJR up to $38.12. as soon as i can billy. did you pick up any of ALXA?

Ski,
Just can't buy them all. But I got a bunch of KID and it's also doing great. NJR is one of my "core" holdings now while others come and go.


------------billy

[wooish]

Ski

Are you still holding those C short? I think it'll get to $3.7 next week.

[skiracer]

Ski

Are you still holding those C short? I think it'll get to $3.7 next week.

no, i'm out of the puts on C wooish. it turned out real well for me. in at .10 out at .32. +.22 / 220%. C looks like it could easily go to $3.25/3.50 range.
I'm still holding the July 10 / $220 call on PCLN. in at $16 / current bid $11. a disaster so far but i like the stock to go back to recent highs or nearso. hoping this volcano BS doesnt affect the European flights and vacations again or the call might get worse in which case i will eat the loss and get out Monday a.m.
still holding ALXA from $3.57.

[wooish]

Ski

No doubt PCLN is a good pick but sorry to say next week it may get ugly. I think it might get a couple of quick bounce but market will pull it back down. I'm currently holding a couple of losers too so don't feel bad. This market is so tough to make a buck that I will probably reevaluate my investing strategy once the dust settles.

[skiracer]

Ski

No doubt PCLN is a good pick but sorry to say next week it may get ugly. I think it might get a couple of quick bounce but market will pull it back down. I'm currently holding a couple of losers too so don't feel bad. This market is so tough to make a buck that I will probably reevaluate my investing strategy once the dust settles.

have you looked at ALXA. it pulled back at the end of last week but i think there is still alot of gas left in the tank. PCLN is another story. good stock but a few negatives that are affecting it. this volcano situation could hurt it again this coming week. what losers are you holding wooish. if you had played each of you POTW picks so far you would have been up real good with them. in the POTW i only play what i own just for that reason alone. i dont want to see them going up when i dont own them.