My Take On SciClone Pharmaceuticals, Inc. (SCLN)
Posted by Timothy Sykes on Wed 5th of Aug, 2009 07:20:54 PM
Tags:
Very rarely do we find such perfect trade setups such as this…you could spend your whole life searching for the perfect breakout nad it would not be a wasted life :)
This afternoon I sent the following to TIMalert subscribers:
Bought 4000 SCLN at $4.15ish…reported strong earnings this morning and spiked immediately to $4.50, its a hot biotech penny stock, but the company is actually profitable, the chart is a perfect uptrend and todays earnings took it to new highs before a slight late day fade (reminiscent of APWR’s late day fade after their big one day spike that we bought into in the $8s before it went to the $11s within a week)…technical support in the $3.90-$4 range so I’ll keep my mental stop loss tight with the goal os selling in the high $4s, possibly low $5s in the next 1-5 days…possible huuuuge rally over the next week to $5, maybe even $6+, BCRX-style, especially if we get any swine flu news.
Sorry no text messaging, our service provider doesn’t seem to be working…that’s why we have 3 ways to get u alerts, text, email and blog!
Because the stock has the following PERFECT chart breakout:
I now have profits of $600 or so and some TIMalert subscribers have already taken profits:
In and out of SCLN for $661 profit, thanks Tim!
-Reaper
Played this one totally wrong, meant to go in heavy this time, instead purchased only 500 shares @4.21. Got out @4.40. ~$90.
-parabol
…but as you can see from that chart above, since SCLN has been in its recent uptrend, its broken its previous high twice and on each occasion, the stock ran for 5 straight days, up 20% the frist breakout and 30% after the second…now that this is third breakout and the 1.75 million shares short are scared, added to the possibility/probability of some analyst comments/upgrades in the next few days, I think this stock once again can run 30% from the breakout level over the next few days, putting the potential upside at $1/share, to the lows $5s.
Oh yeah and while its not a high probability, this stock could EASILY pull a fellow swine flu BioCryst Pharmaceuticals, Inc. (BCRX) -type move and double, really squeezing the shorts:
All I want is $5, I’ll be very happy with my 4,000 shares
TIMstore Monthly DVD Specials:
See all TIM DVD specials HERE
Related Reading
-
mark22
-
narmo
-
timothysykes
-
TomNevers
-
timothysykes
-
TomNevers
-
jammy15yr
TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 19 | AENY | $2.80 | $3.02 | $1148 |
| Nov 18 | NLST | $4.16 | $4.40 | $947 |
| Nov 18 | IMGG | $1.42 | $1.64 | $2094 |
| Nov 17 | NLST | $5.04 | $5.59 | $2195 |
| Nov 13 | VRMLQ | $21.50 | $22.97 | $2901 |
| Nov 11 | EONC | $2.61 | $2.80 | $687 |
| Nov 10 | EONC | $2.74 | $3.36 | $9784 |
| 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: $98,094 (681%)
