Sunday, June 9, 2013

Best in Bio

Long Ideas:

1. THRX: Gap filled, spits out longs on Wednesday, 2 solid days on Thursday and Friday. Back above the 8 day MA with decent volume.

2. TSRX: New gap higher on Friday, volume coming in all last week. Could leave the building above 8.50.

3. RPRX: Multi week high close on Friday, ascending 50 day MA with 8 day MA turning up. Decent volume in last 3 days of the week.

4. SGYP: Admittedly obsessed with this stock. Sitting on angular support where the last 2 times it bounced hard from there. Still no volume though.

5. MYGN: Strong reaction friday off the bottom of it's gap area from early May and back above 8 and 20 day MAs.

6. OPTR: Confluence of MAs around price. Tricky stock but could break higher out of this consolidation.

7. PACB: Has that look like somebody knows something. Volume came into the stock for most of the week. Lots of room above to 3.3.

8. INFI: A bounce candidate, but I like the 3 progressively shorter down bars on lower volume each day the last 3 days of the week.

9. INVN: Still in gap condition, good volume coming in last week, and lots of room for higher above 13.5.

10. CLDX: New 52 week high on Friday with volume all week.

11. AUXL: Breakout from multi week consolidation and gap fill last week. Needs to stay above 16.

12. AMRN: Stock appears to be putting in major bottom on weekly chart. Great volume on Friday, reclaiming space above a declining 50 day MA.

Short Ideas:

1. KERX: Either get going or kill this thing. Some vulnerability showing last week. Below support and volume definitely came out last week.

2. CNDO: Working lower all week on volume, needs to stay below 9 and could see move down to 7.15 area around the 200 day.

3. BMRN: Possible first leg in new downtrend on volume last week with nice setup bar on Friday.

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