| From: tnsaf | 6/29/2006 9:16:02 PM | | | | | | | BTRX +19% on slightly higher than average volume. Quite a few stocks had strong finishes. |
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| To: tom pope who wrote (2537) | 6/30/2006 10:45:26 AM | | From: Mike McFarland | | | | I've been watching it, but never intended
to trade it. One of the yahooligans, a few
days ago, suggested arqule might trade the
lowest on friday with large volume to cover
the short position, associated with Russell
rebalancing.
Sounded plausible, it may yet drop down
again and allow the shorts to cover a notch
cheaper. I trust Wall Street as far as I can
spit, everything looks like a trap to me.
Even this apparently cheap stock could be a trap.
But I am pretty sure that I am not paranoid <g> |
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| To: Ian@SI who wrote (2540) | 6/30/2006 6:27:18 PM | | From: Mike McFarland | | | | Oh! arql from ~$4 to $5.5, what a trade.
I hope somebody from SI got a piece of that--
maybe Rick or Tuck? Anybody?
I am just looking at the yahoo chart, which shows
a large block at the very end, so that certainly
looks like a short-covering rally.
It makes one wonder... The scenario where it was
going to trade down on Friday in response to
the Russell rebalancing...a little idea planted
by some hedge fund intern? To reduce the competition
for that trade?
Someday, I will be able to read the tea leaves
and catch trades like this. I will know when somebody
has their poker face on, and I'll score great trades
like that. Someday. It certainly doesn't make sense
to read Yahoo--who knows what is a lie, or what is
a lie within a lie, or what is a bluff. (Or the
yahooligans have no idea what hit the stock either). |
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| To: Mike McFarland who wrote (2541) | 6/30/2006 7:46:48 PM | | From: Ian@SI | | | | | I caught the $4.90 to $5.48 piece on 1/2 my position which I hope to buy back within the next week or so. But I've got to believe that more nimble traders like Rick must have picked up a bigger chunk of the volatility. I'm seeing a 5.64 close with over 13M shares traded during the closing minute. |
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| To: Ian@SI who wrote (2542) | 6/30/2006 8:01:09 PM | | From: Mike McFarland | | | | What tools to you use to trade?
I'm not really in a position to daytrade,
with two little kids demanding my attention.
And often the neighbor kids too. I am usually
outdoors away from a PC etc etc.
But...I can imagine a cellphone that has
what I would need to trade. Surely they
have cellphones now that will download data
about every half hour automatically.
That said, you can lay down a strategy the
day before and still fail utterly the next day.
Well, that was a good trade for you, well done. |
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| To: Mike McFarland who wrote (2543) | 6/30/2006 8:12:16 PM | | From: Ian@SI | | | | I have real time streaming Indices, quotes, charts, news.
I look at long term charts, moving averages, RSI, money flows and, especially, Rick's suggestions<G>.
I don't think I stand a chance against the professionals with their computer trading algorithms; so I tend to make real time decisions which may follow no precise formula. e.g. At this point, I have several naked put positions outstanding. So my recent trading tends toward building a cash cushion to protect against an early assignment.
Have a good weekend,
Ian |
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| To: Ian@SI who wrote (2544) | 7/1/2006 1:00:13 PM | | From: tuck | | | | TRCA was up over 20% Friday. If it's news, it's being priced in pretty slowly, as last news was Monday, and the big moves were Wednesday and Friday. Don't really follow it, but I understand the stock had been whacked recently on loosing some sort of ground to Insmed, which makes a similar product for the same population.
Say, Ian, I know of at least one other trade of yours that's going well so far. Good going! I, too, loaded a bit of biotech recently, and a bit too early. Chiefly AMGN, PDLI, ARNA, ENCY (my best timed purchase of the lot). Other positions that had calls written against them no longer do. Summer rally, please, for more than two days, this time? Pretty please, sugar on top?
Cheers, Tuck |
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| To: tuck who wrote (2545) | 7/1/2006 3:01:13 PM | | From: hmpa | | | | TRCA was up over 20% Friday
This seems to be a part of a "very" unusual pattern for Russell additions and exclusions. Unlike any of the previous years I am aware of, most of the dumped issues went up in a meaningful way (e.g. see ISTA), while additions somewhat slumped, see e.g. finance.yahoo.com
I don't understand why it could have happened - other than for some reason accumulated short and long positions, respectively, in anticipation of the rebalancing were bigger than actual demand for shares.
(Alternative is if there is a large net short position on Russell ETF - I have no clue how it is getting processed - does ETF have to go and short the shares?) |
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