Stocks on my Radar

All these Bio stocks have been in play the last few weeks. (SVA, NVAX, JAZZ, VVUS, OPXA, BCRX, OREX, MELA, AUXL, SLXP, DNDN). The market was again able to make new highs. Although the market may seem overextended or you may feel that it is overextended, it is important to remain open minded and not to let bias get in the way of good trading. Easier said then done. Try not to fight the tape.

1) Of all the bio's this SVA is my favorite on the charts. If it can get through 10 with some volume, it can easily get to >=$12. I will be looking to establish a position in this at a great price and set a wider stop. I really like the wedge pattern it is forming. The longer this thing consolidates, the more explosive it is going to be. I am going to look for an entry between 9.75-9.90 with a stop at 9.6, first target 11 then 12.50. Looking to put on 200 shares, offload half at 11 and let the other half ride.




I was very gun shy this morning with this AUXL. But it still looks like it may have some more room to run before its announcement on Wednesday. I would look to initiate a long on a pull back to in the range of 36-36.25 or a break out of 37. There is a $40 price target on this thing and this news on Wednesday is just the right catalyst to get us to that number.



Another high flier from today's trading day is SLXP. This thing gapped up like 7 points and really did not do much after this. But I do like how it based the whole day. I would look to be long in the 20-20.15 area for at least 2 points to the upside and would stop 19.70 and maybe even go from long to flat to short. I kind of have the feel of long above 19.70 and short below this level.



DRYS is finally starting to come alive. Thank god, I have my investment group at work in this one. We have plenty of time but I am tired of them giving me shit every day. Anyways they are finally green on this position, we still have 18 months. But anyways, this thing is finally breaking out. It failed last time at these levels, so lets see what it does. If it can get above 7.50 and hold I don't see anything on the charts until $8.5 then $10.



The chart for DNDN also looks good. Here are some notes from Mike B. at SMB Capital from their blog: Into the Close I recognized that one of the stocks I was long was stronger than all the others. That was DNDN, which will now be the first stock I consider to trade as I prepare before the Open tomorrow. Let’s discuss.

Into the Close I was long LVS, DRYS, AIG, and DNDN. SPY broke from its tight range and started an upmove into the last 45 minutes of the trading day. LVS did not trade higher, though it had cleared important technical levels. DRYS did not trade higher though above 7 was significant. AIG in a nice intraday uptrend was stopped in its tracks at 41.30. Not a strong upmove into the Close. But then there was DNDN.

DNDN closed strongly into the Close. It printed near its intraday high for the day. This is old school strong. DNDN found support at 26.70 and then cleared its intraday resistance at 27.27. Rosey called this out and got us in the trade to 50c. Now this move was not explosive above intraday resistance but it was better than all of the other stocks.

After the Close I made a note in my trading journal that DNDN finished the strongest into the Close. This will be the first stock I check when arrive early tomorrow AM. DNDN above 27.50 is my first trading idea. I will look at AIG next as it was the second strongest stock into the Close. LVS above 18.30 will get my attention. I have created a hierarchy for the next trading session.

All of this is subject to change overnight. But now I have started to think about my next trading session and the stocks that are the most interesting for how I trade. I start generating trading ideas for tomorrow right after the Close today.



Good Luck Trading!