How My Latest $400 Profit On Arena Pharmaceuticals, Inc. (ARNA) Proves You Have To Be Quick When Buying In This Market
Posted by Timothy Sykes on Thu 5th of Mar, 2009 06:00:19 PM
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Looking at this chart of ARNA, you must wonder why I chose to buy ARNA on the dip:
As I told TIMalert subscribers on Feb 24:
Bought 2500 ARNA at $5.14…1st up day after several down days…i’ve been saying for days, it’s still got the hype and over-aggressive-short-sellers can get squeezed…upgraded by an ANALyst today…good news is it’s just above the $5 level which acted as resistance a few days ago…so now $5 is support (potential loss of 14 cents/share) and new resistance is the day high at $5.16 and even moreso at $5.20…so far good morning spike/sideways price action to hang near the highs–just waiting on potential breakout today or tomorrow…then some multi-day resistance at $5.40, but if it can break those, we can get a serious short squeeze/momentum-based rally back tot he mid to high $5s…low risk/decent return play here…aiming to make 50 cents/share in the next 1-2 days as the stair step pattern that led it down works its way back up, ideally with morning spikes each day followed by sideways price action, just like on the way down.
For you see even though ARNA did indeed continue breakdown on a daily basis, I profited from that little bump in the chart, finally timing something perfectly:
Sold ARNA at $5.31, Nice Safe Profit…sold for $400 profit in 2 hours, nice and liquid, i see dozens of subscribers got in with me, great solid chart pattern, but this is a market-related move, i’m not going to risk it overnight and remember there’s resistance at 5.40, and then of course there’s the people expecting the resistance so they put in their sell orders in at 5.38, 5.37, even 5.35. this was a great scalp, as ugly as that word is, thats what the markets is bearing right now…still watching ANDS for possible short later if it cracks $6.90 (probly not though since it’s illiquid and if the market’s gonna rebound big) and ZN for possible short too.
Obvioulsy I suck at buying so I’m more than happy with my gains and considering my alert was a buy–my subscribers prefer buys to shorts because they’re easier–and the stock was extremely liquid, several TIMalert subscribers profited alongside me:
Long ARNA @ 5.11, closed at 5.26. +$360 –examine
Blegh… +$150 on ARNA…Oh well paid for 5 months of malt liquor for Tim-TBohen
Made $134, Tim. Paid for my first month’s subscription to TIMalerts.-Sam
Im out $70 profit in an hour, im happy. Thanks Tim :) –Spit
out at 5.30 with a quick $100, i’ll take it! –jkart
in 5.13, out 5.27 for small gain, nice pick -rassoodock
Let this trade and the 2 failing biotech charts below be a lesson to all you poor people–try not to dip buy into this bear market….but when your trading addiction won’t permit you to miss a trade, buy and sell quick, for odds are over the next day/s, you’ll get wrecked!
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|---|---|---|---|---|
| Nov 6 | QXM | $4.31 | $4.80 | $1936 |
| Nov 4 | COT | $8.66 | $8.88 | $642 |
| Nov 4 | QXM | $4.61 | $4.89 | $822 |
| Oct 30 | DDRX | $25.70 | $26.53 | $812 |
| Oct 29 | CTDC | $4.00 | $4.42 | $781 |
| Oct 26 | AWSL | $3.24 | $4.10 | $2516 |
| Oct 23 | RODM | $5.27 | $5.23 | $301 |
| Oct 22 | AMLM | $2.69 | $2.97 | $820 |
| Oct 22 | USEG | $6.12 | $6.09 | $85 |
| Oct 20 | CBOU | $8.93 | $9.06 | $243 |
| Oct 16 | VRMLQ | $16.79 | $18.65 | $2773 |
| Oct 13 | YONG | $11.05 | $11.66 | $1202 |
| Oct 13 | NPHC | $0.59 | $0.71 | $583 |
| Oct 12 | IMGG | $0.60 | $0.70 | $682 |
| Oct 9 | ZAGG | $5.50 | $6.10 | $2380 |
| Oct 7 | GVBP | $0.03 | $0.27 | $702 |
| Oct 1 | NPHC | $0.70 | $0.85 | $1482 |
Total: $92,304 (644%)
I remember a time when Pharmaceuticals, Healthcare, & Bio Tech stocks were my cash cow. I couldn’t go wrong, buying. Now i can’t go wrong, selling. Oh how times have changed. Good job Tim on the profit!
I watched something funny on HULU today, thought I’d share it:
http://www.hulu.com/watch/6086.....s-p1-so-i0
The Daily Show with John Stewart: An entire segment on how wrong CNBC has been. It’s a pretty funny piece … in fact, his funniest financial episode. :)
Link to a nice guy who works hard, plays good songs, and has many followers. http://www.daytradingradio.com/portfolio.html
I’ll let you decide.
Yea maybe link the portfolio next time too instead of just spam it :)
http://www.daytradingradio.com/portfolio.html
boooooooooooooooo
I think avg stock is down 15% on that list if not more!
^ Bitter about life much? I’m rather curious what exactly Tim has done to make you so mad? Be successful in his own right/way?
Bitter Sweet for sure! Bitter? Not with the incredible shorts I have had on lately, oh boy….
You penny fools are such great entertainment : ) I just like to bust Tim’s chops cause he actually believes that his own defecations smell like roses.
Please just remember that somone who purports to be anti-finance, yet makes a living off ONLY finance, is a true idiot. Making money is great, disingenuous behavior is not, especially at the cost of amateur traders….