So AKRX did go up to $1.5 like i thought it would. Akorn, Inc. did not release any PR like they should have and the stock has been in gaping down. With earning coming out monday, I decided to close the position.
I closed the position because I don't like holding over the weekend. Too many variables are present that we cannot counter. With earning coming out, AKRX could either plummet or sky rocket. I personally do not like risking it and would rather just secure our profits.
I sold out at $1.35, bringing us $8 profit after commission. This isn't as much as i was hoping. Had there been some PR by the company we would have made a lot more, but it is better than losing money.
On the bright side, we made money and didn't lose any. The amount of money we made can be used as commission for another trade. I will do more research and find some better stocks.
WIWS
Disclaimer: These are not recommendations to buy or sell. Invest at your own risk. Where Is Wall St. is not responsible for your own decisions.
Friday, July 31, 2009
Wednesday, July 29, 2009
Stocks to Watch: The Horse Race
I have made a trade and now we wait to see how it turns out.
I have picked us up 246 shares of AKRX at $1.22 when I last posted. The total cost was $308.08 after commission. I see this trade making us $100+. Here are the reasons why.
First, Akorn, Inc., as I mentioned had a lot of positives going for it. It was undervalued and the price we bough it at was great.
Second, it was side trading and it broke out, like I predicted and that breakout has been really good.
Third, the FDA approved one of its drugs.
The approval is great news. Already in the aftermarket, AKRX is at $1.50. I see this stock breaking $2 tomorrow. I haven't decided a sell point yet but I will look at the price action in the morning.
If, Akorn, Inc. does the proper PR tomorrow and really pushes it, this stock could see $2.50+. It will come down to Akorn, Inc. to push this great news for the stock to really jump. With such news I may take early profits and buy into some of the other stocks I have been watching, or let this trade ride to some substantial profits. I will update soon with the trading plan.
Tomorrow's first couple hours will be important on deciding how to handle AKRX, espeially how Akorn, Inc. publicizes its success.
WIWS
Disclaimer: These are not recommendations to buy or sell. Invest at your own risk. Where Is Wall St. is not responsible for your own decisions.
I have picked us up 246 shares of AKRX at $1.22 when I last posted. The total cost was $308.08 after commission. I see this trade making us $100+. Here are the reasons why.
First, Akorn, Inc., as I mentioned had a lot of positives going for it. It was undervalued and the price we bough it at was great.
Second, it was side trading and it broke out, like I predicted and that breakout has been really good.
Third, the FDA approved one of its drugs.
The approval is great news. Already in the aftermarket, AKRX is at $1.50. I see this stock breaking $2 tomorrow. I haven't decided a sell point yet but I will look at the price action in the morning.
If, Akorn, Inc. does the proper PR tomorrow and really pushes it, this stock could see $2.50+. It will come down to Akorn, Inc. to push this great news for the stock to really jump. With such news I may take early profits and buy into some of the other stocks I have been watching, or let this trade ride to some substantial profits. I will update soon with the trading plan.
Tomorrow's first couple hours will be important on deciding how to handle AKRX, espeially how Akorn, Inc. publicizes its success.
WIWS
Disclaimer: These are not recommendations to buy or sell. Invest at your own risk. Where Is Wall St. is not responsible for your own decisions.
Tuesday, July 28, 2009
Research
It seems as though Akron has been awarded a contract by the government. To follow up on my research, go to www.fbo.gov and search Akron.
I will delve further and post if I find some more significant articles.
WIWS
I will delve further and post if I find some more significant articles.
WIWS
Monday, July 27, 2009
Stocks to Watch
Here is a short list of stocks to watch this week.
AKRX
C
JAV
AKRX is an interesting stock to say the least. For the past few sessions it has found a reliable floor in the $1.18 region. It has touched this low multiple times, but has bounced back up. The problem with this stock is that it is trading in a tight range, form $1.18-$1.24. This range is bitter sweet. The good news is that it makes this stock more predictable, thus allowing us to manage our risk better. The bad news is that it limits profit potentials.
Another thing to note is that with these types of stocks that trade within a tight range, when they do break their range, they will usually go pretty far in that direction. If this stock breaks through the floor set at $1.18, then it will most likely stop at the next resistance level around $1. If it breaks above the roof at $1.24, then it could trade as high as $1.35. Depending on the price action tomorrow I may or may not buy into this company. For now, it is at the top of my list.
Akorn Inc. is a good decisions so far, but next up is Citi again.
The next stock on our list is Citigroup. We have looked at Citigroup in the past and it made us some nice profits. The stock is back to its previous levels, but without a lot of the turbulence. The estimated value of Citigroup is around $3.50, and at a price of around $2.67 I believe it is a good buy for a medium term to long term investment. Citigroup is coming off of some gains and it seems to have found its bottom. A possible trade is to pick up some shares for a medium term trade. A medium trade for me is holding for a few months, usually 4-6. I may buy Citigroup in conjunction with a short term trade of either AKRX or JAV.
JAV is the final stock on my watch list. It had a nice gain of 8% today. It was around $1.50 earlier and has gone all the way past $2. It seems late to enter this trade at a price of $1.98. It may go up some more, but after such repeated gains, I expect a small correction to happen. It may not be a big correction but we may be able to pick up some shares for around $1.78.
The most probable plan of attack is to pick up a short term trade with either AKRX or JAV and combine it with a medium term trade with C. I am going to watch the price actions more to see which stocks to choose.
WIWS
AKRX
C
JAV
AKRX is an interesting stock to say the least. For the past few sessions it has found a reliable floor in the $1.18 region. It has touched this low multiple times, but has bounced back up. The problem with this stock is that it is trading in a tight range, form $1.18-$1.24. This range is bitter sweet. The good news is that it makes this stock more predictable, thus allowing us to manage our risk better. The bad news is that it limits profit potentials.
Another thing to note is that with these types of stocks that trade within a tight range, when they do break their range, they will usually go pretty far in that direction. If this stock breaks through the floor set at $1.18, then it will most likely stop at the next resistance level around $1. If it breaks above the roof at $1.24, then it could trade as high as $1.35. Depending on the price action tomorrow I may or may not buy into this company. For now, it is at the top of my list.
Akorn Inc. is a good decisions so far, but next up is Citi again.
The next stock on our list is Citigroup. We have looked at Citigroup in the past and it made us some nice profits. The stock is back to its previous levels, but without a lot of the turbulence. The estimated value of Citigroup is around $3.50, and at a price of around $2.67 I believe it is a good buy for a medium term to long term investment. Citigroup is coming off of some gains and it seems to have found its bottom. A possible trade is to pick up some shares for a medium term trade. A medium trade for me is holding for a few months, usually 4-6. I may buy Citigroup in conjunction with a short term trade of either AKRX or JAV.
JAV is the final stock on my watch list. It had a nice gain of 8% today. It was around $1.50 earlier and has gone all the way past $2. It seems late to enter this trade at a price of $1.98. It may go up some more, but after such repeated gains, I expect a small correction to happen. It may not be a big correction but we may be able to pick up some shares for around $1.78.
The most probable plan of attack is to pick up a short term trade with either AKRX or JAV and combine it with a medium term trade with C. I am going to watch the price actions more to see which stocks to choose.
WIWS
Saturday, July 11, 2009
A Little Trade
I have put in a small trade that is on the riskier side. I have looked into GNTA.OB. They have some solid research and a positive outlook. Their stock price is currently .0093, but I picked up 30,000 shares at .01. I could not pick up any shares under .01 due to account size. The good news is that the stock is in an upswing, even with the tumultuous market conditions. I expect this stock to go over .01 soon. It will likely go to .012 soon.
With such a small gain, we will probably make only $30 profit after commissions. We still have $200+ of settled funds to trade with so I will be looking at some stocks to pick up on monday.
KOG has broken through the .95 barrier and is currently sitting at .80. If it continues its downward spiral I will steer clear. It seems to have stabilized and a potential buy opportunity for a small profit of $20 is looking to open up.
I will post some potential stocks soon.
WIWS
With such a small gain, we will probably make only $30 profit after commissions. We still have $200+ of settled funds to trade with so I will be looking at some stocks to pick up on monday.
KOG has broken through the .95 barrier and is currently sitting at .80. If it continues its downward spiral I will steer clear. It seems to have stabilized and a potential buy opportunity for a small profit of $20 is looking to open up.
I will post some potential stocks soon.
WIWS
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