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  • VNDA Jumps +824% On FDA Approval!!

    After the market, VNDA investors experienced "Christmas in May"!!  VNDA announced that the US Food and Drug Administration (FDA) has granted marketing approval of Fanapt(TM) (iloperidone) for the acute treatment of adult patients with schizophrenia.

    VNDA closed at just +1.08 today.  It jumped to almost $10 in the after-hours trading.  Its trading volume was 1.3 million shares during the day, more than 6 times the 10-day volume and more than 10 times the 90-day volume.  Even in the after-hours trading, more than half-a-million shares traded!

    VNDA's all-time high was $32/share set back in January 2007.  This stock could have more room to go up, even after an +800% rise!

    Good night and HappyTrading! ™

    Disclosure: VNDA none

    Tags: VNDA
    May 06 11:42 PM | Link | Comment!
  • Financials And Energy Sectors Push The Market Higher! SPX, Nasdaq, WFC, STI, PNC, BAC, DVN, APA, HES, CSCO

    The first thing I said in the Trading Room this morning was:
    HappyTrading May 6, 2009 6:47 AM
    good morning!

    energy stocks and financials
    are strong!

    The energy and financial stocks just kept on going higher today.  WFC +15.59%, STI +14.99%, PNC +11.93%, and BAC +17.07% all had double-digit percentage gains!  DVN reported better-than-expected earnings this morning.  It stock soared +12%.  APA and HES both continued to sail higher, adding +4.05% and +3.7%, respectively.  We also continued to pick up winning trades:

    May 06, 2009
    12:27 | HappyTrading DVN ($60.76) Sold to Close DVNEY May 55 calls, at $6.10 +56%
    11:41 | HappyTrading RIMM ($77.50) Sold to Close RFYET May 75 calls, at $4.20 +11%
    11:32 | HappyTrading RIMM ($78.00) Sold to Close RFYET May 75 calls, at $4.50 +18%
    11:27 | HappyTrading STI ($20.00) Sold to Close STIER May 18 calls, at $3.00 +50%
    08:23 | HappyTrading DVN ($60.00) Sold to Close DVNEY May 55 calls, at $5.50 +41%

    We focused on the energy stocks and financials, playing DVN and STI.  Techs were on the weak side, but, we still managed to identify RIMM as it moved higher.  The Dow was up +101.63 points; SPX gained +15.73 points; Nasdaq added +4.98 points:
    GDX (gold miners) and XME (metals and mining) were both strong.  USO (oil) added +4.25% and UNG (natural gas) jumped almost +8%.  XLE (energy) rose +3.88%, while XLF (financials) gained +7.96%.  GLD (gold) and SLV (silver) also went higher.  FXI (Chinese ADRs) advanced +3.3%.

    SPX added +15.73 points to close at 919.53.  Its daily MAs and MACD went up.

    Nasdaq added +4.98 points to close at 1759.1.  Its daily MAs were higher.  The MACD was flat.

    Even though the techs were a bit lackluster today, the broader market was strong.  Commodity-related, especialy energy, sectors have been fueling the market's rise.  Financials continue to be very strong ahead of tomorrow's stress test results.  A lot of information from the stress test had already been leaked out.  So far, investors seem to like what they hear.  In addition to stocks, oil and gold also went higher today.  It looks like sidelined money has been rolling back into the markets, and, they are just trying to find a place to land!  Both SPX and Nasdaq look healthy and their daily MAs went higher on a steeper slope.  SPX 950 and Nasdaq 1800 are the next resistance levels.

    After the market, CSCO beat the estimates on its quarterly results.  Its stock traded +2.5% higher in after-hours.  This may encourage the techs to get back on the rising tracks tomorrow!

    Good night and HappyTrading! ™

    Disclosure: WFC none, STI long, PNC none, BAC, none, DVN none, APA, none, HES none, CSCO none

    May 06 11:21 PM | Link | Comment!
  • Markets Hold the Important 900 Level

    from by Bagger Vance Sign up for FREE membership!

    More wins more the new month:

    May 05, 2009

    • 07:28 | Bagger Vance BIDU ($245.00) Sold to Close BDUEJ May 250 calls, at $7.50 +70%
    • 07:13 | Bagger Vance AAPL ($132.00) Sold to Close APVEF May 130 calls, at $4.55 +49%
    • 07:10 | Bagger Vance CME ($245.00) Sold to Close CMEEQ May 250 calls, at $7.40 +23%
    • 07:04 | Bagger Vance STP ($16.80) Sold to Close STPEZ May 15 calls, at $2.25 +96%
    • 07:01 | Bagger Vance LDK ($9.00) Sold to Close DLOEU May 8 calls, at $2.50 +79%
    • 06:49 | Bagger Vance MS ($26.80) Sold to Close MSEY May 25 calls, at $2.65 -7%
    • 06:36 | Bagger Vance MGM ($11.70) Sold to Close MGMEI May 9 calls, at $2.80 +155%

      Markets consolidated on Tuesday after yesterday's big rally.  Breadth was weak but turnover was not much higher, so a good sign.  The remainder of the week is all about jobs and earnings, we could see some good action.  The financials are waiting for the stress test results, and that could move the market, too.  Commodities are setting up for a big move higher.  Gold fell back some but bonds were mixed.  Volatility is muted here as fear continues to be a non-factor. 

      More big winners coming over the next several days!  Hit' em straight!


    May 06 12:07 AM | Link | Comment!
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