Kicking myself for not buying the December $5 puts as I had originally planned. Doesn’t look like it has found a bottom yet. If it falls through the $4.25 support it might keep on going.
This time about DSCO. If I keep kicking myself, I am going to hurt my foot; or my shin. DSCO had its aerosol meds delivery system ok’d by the FDA and has shot up by 17% today, its now at $2.57. I exited at $2.05 – I suppose I could be proud of myself for adhering to my plan but it is always tiresome to have been stopped out at a low.
CRIS seemed to be holding its own at the $4.90-$5.00 level but in the later afternoon it dropped and closed at $4.75. It will be interesting to see what happens tomorrow. It triggered the short sale circuit breaker this afternoon which should, I imagine, slow down the selling. We shall see. One could convince oneself that it respected the recent ascending trend line but I would not be surprised to see that fail tomorrow.
IRWD has been on a tear in the last 2 weeks. It is up 25% since January 9th with only two down days during that period. It broke through the 200 day MA today and is now approaching resistance at the $13.90 level. I am looking for a pullback to enter but recognise that I am late to this. Ideally I would have taken a position at about $12.50.
A day late with this update due to some flu-y unpleasantness yesterday. Seems to have dissipated though so glad about that.
AMRN respected its 50 day MA and descending trend line yesterday. Given this support I established a position at $7.55. A bit smaller than usual – 20%. This means I am fully in the market with a chunk on margin.
ASTX saw some early action based on the news that it had transferred future efforts based on the epigenetics program to its collaborator, GSK. Stock went as high as $2.20 but finished flat.
SPPI had a reasonable day but is slow ahead of earnings. CRIS and DSCO were both quiet.