Analysis on both of these stocks were, right on! Who were those lucky people picked up shares in CRXX on Monday, after quick drop in pps for as little as a dollar? CRXX recovered fine quickly ending up positive and low and behold approval announced premarket on Tuesday. It does make you wonder, doesn't it? Despite approval a small bio-tech company, ran up and didn't just sell off with some profit taking with a high of $1.72 and settling in to close at $1.48. That's still about a third gain percentage wise. As TapeBeat.Com had said there were variables to indicate that the stock would not see a flurry of selling and drop lower price, as small bio-tech's often do. TapeBeat did close it's position in CRXX and with the strategy to reenter at a lower price, should the opportunity occur after a reanalysis.
And how about McDermott? Monday's close was near $23.81 If you were wise enough to follow the strategy to buy on the dips, then you could have picked up MDR for near $23 in the session or after hours session and see a close Tuesday of $25.42. The profit from close to close, was 6.72%, but by buying on the dips you would have an unrealized (or realized in you sold) of 10%, not bad for one day's 'not work.
Remember, we don't trade everyday, let the stocks set up. Reevaluate your trading and if you are not catching these moves than we know some work needs to be done. This is just a quick update. Right now, we're trying to find out the irrational exuberance in La Jolla Pharmaceutical Company
(Public, NASDAQ:LJPC) . Considering the company has stated it may only be worth 2-3 cents, and may not get enough votes for the merger and reverse split, many jumped on board for a 30% gain as the stock ran up to .16 cents. If they don't get out at the right time, considerable losses could occur. This brings up the weakness in only looking at Technical Analysis. Timeless Wealth did an excellent technical analysis video. Yes, I'm jealous and really liked it and from a technical perspective. With the wealth of news and info from the company itself, there are indications of prospects for a much lower evaluation. If you follow the Technical Analysis indicators and 'follow the herd' into this position, you might find yourself in the middle of a stampede!
Disclosure: No Positions