No surprise here today. There will be many stocks in play Thursday but I’ m looking at two.
Up mega huge on FDA approval to market its device to destroy diseased soft tissue. Sounds tasty but not worthy of a + 180% run up. That is ridiculous and unsustainable. I shorted 2k shares at 3.14 and came close to covering in the 2.80’s but I like the downside potential on this and I’m only in 1k shares. In all reality I would love to see this thing spike back up to the 3.50’s so I can add to the position to make it worthy and pay my mortgage with this trade. However, this may not get a chance to spike in the a.m. . Take at look at the daily chart. What you see in February is the same thing you are seeing now, just x10. This company has torched perma bulls in the past and their probaby going to get hung out to dry on this. I believe this stock prints 2.20 to 2 by Friday. Original news article here. http://www.reuters.com/article/idCNSGE67H0HJ20100818?rpc=44
Another “no surprise”. I’ve lost cout of how many times HAUP has been involved with Google/Apple etc. Now they are once again the subject of buyout talks . Frankly, I don’t care. This company reaks. The only thing that could save them is a buyout but I haven’t found any reason why Google or Apple desperately need HAUP. If they were to be bought out that would help the stock but If and when this rumor fizzles, HAUP falls. I am only watching now because I need to see more data of the buyout. It’s painful to be stuck on the wrong end if a stock gets haulted.
This was in yesterday’s watchlist. Hard to pay attention to these when you fixated on BSDM. Anyway stock looks like it’s rally is getting a little tired. This is probably a safe no thrills short. I will try to watch for signs of fading tomorrow providing I don’t get caught up too much in the other two above.
I feel like I am the only one preaching about this. I have picked up about 3.5k on this thing over the last two days. Today was much slower and less rewarding than Tuesdays action and it took me forever to get my shares filled. This play is probably done now but I will take a peek tomorrow anyway.