Seeing Green

Seeing more red than green on my trading screen is nothing new as my portfolio has been weighed down by losing stocks all year, but in addition to Las Vegas Sands (LVS), my position in which passed 1000% in unrealized gains this week, some recent trades have been working nicely for me, adding some nice healthy green to my board.

Hyperdamics Corp (HDY) broke out from a long period of consolidation under 1.20 but hit solid resistance at 1.98 last week, before breaking out again today to a high of 2.50 in the after hours session. The rising wedge pattern it formed below 2.00 made it clear that even though the stock was oversold by the RSI and Stochastics indicators, HDY was determined to cut loose again and I doubled my position as it broke through to 2.00 range.

Seeing as it closed near the high of the day today, there will hopefully be some follow through at the open tomorrow which will allow me to set a stop to lock in these latest gains.

Elsewhere, my three bio run-up plays (see my fellow MSB-er, Mark's BioRunUp.com site for the skinny on what can be a very profitable trading strategy) for October are all working as planned, though there was a curious divergence between the two stocks expecting PDUFA decisions on October 11th.

We're obviously within two weeks of 10/11 now, the time when these run-ups often have their final leg up in anticipation of the FDA's decision, but while JAZZ headed north in healthy fashion towards $11, Alexa Pharmaceuticals (ALXA) headed down and bounced off support at 3.20, a buying opportunity in hindsight.

I was expecting JAZZ to be the unpredictable one seeing as the FDA's panel recommended against JAZZ's fybromyalgia drug in emphatic fashion last month, but I expect both to rise more into next week at which point I'll be looking to take most, if not all, of my positions off the table.

AVNR is my third bio play, with their FDA decision due at the end of October. That stock's run-up started in earnest last week and paused today around the 3.40 level. I'm sitting on 10% (AVNR), 26% (ALXA) and 78% (JAZZ) gains so far on those three plays.

In terms of my other swing trades, $BGP's chart remains bullish but it's a trade I should have got out of with a stop just below my 1.29 buy-in last week; $CPE stubbornly remains under 4.00; $HAUP is basing again in the 2.60 - 2.70 range (again, patience is the watchword there), and I was stopped out of $APTG literally on the bottom tick of the day at 13.14.