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Post by joeypotsandpans on Feb 4, 2015 15:23:51 GMT -5
Trend, I tend to wait for more confirmations before declaring a longer term trend...having said that, the high today did breach the high from 1/5 and we're knocking on the upper bb. Would like to see this sustain itself on increasing volume...still don't think the "dark side" is going to go quietly, think they are going to let the enthusiasm play itself out over the next week or so and then we'll see how it goes. I've learned to try and keep the emotions in check until there is more clarity (for me anyway), so in essence I would line my perspective as follows for now: short term-bullish (short term =1-10 days, intermediate term-neutral 2-8 weeks, long term-bullish 3 mos +)...still in camp that we can see one more drop before breaking to new highs so my line of thinking is that some of the new buying is not longer term rather than short term traders again taking advantage of the daily break out...that is why I always say lets see how the rest of the week plays out and finishes  The week played out very nicely with the highest volume since the week ending 10/17 with just about a 10% increase in s/p. We came perilously close to the 50 week MA that trend mentioned which may act as resistance for the immediate future (the high for the week 6.68, 50 week MA = 6.84). What I liked most is that the increase in volume and price came with the week ending with available shares remaining tight...Symbol: MNKD Availability: 25'000 Exchanges: NASDAQ in other words, not much in the way of short covering rather some additional accumulation along with traders adding to the volume. For the upcoming week, I would expect the upward pressure to the 6.84 area to continue and we'll see how it behaves at that area, sustained volume would be nice to see. I sense that there is a building amount of buyers waiting for that "last drop effort" that a lot of us have been looking for...whether it is to add, start, or cover a position. With that in mind if it does come here's a thought... it may be rather fleeting and volatile similar to the days leading up to pre adcom so if one is in the camp of looking to pull the trigger on any decent drop they should most likely put in a limit buy order at where they are comfortable having a trigger fired...this is in line with what Rob Sacher has been preaching if you've been following what he's posted on that subject. Enjoy the rest of Super Bowl weekend everyone...I know Sam (aka Afrezzauser is) We shot up to the aforementioned 50 week MA and retreated right away...this is the level they will try to hold, this am shares available for shorting on IB was at 250k, currently it is at 200k so 50k has been used from IB's available pool to keep "a lid" for now....don't know how long they will be able to hold the dam from breaking (for those that remember my post on YMB referencing the scene with Chevy Chase at the Hoover Dam in Vegas Vacation lol www.youtube.com/watch?v=SnmX4f6VBRw )...think they better start stocking up on bubble gum as I believe they will need quite a bit come a couple of quarters from now. In the meantime, the weekly bar has put in a higher high today and we finally penetrated the lows from mid Aug to early Sep. which has held a line of resistance in the 6.60 area...should be interesting to see how we trade from here in the short term. Where's Mikey...it's hump day |
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Post by joeypotsandpans on Feb 5, 2015 12:03:41 GMT -5
Significant volume on a day where we are trading above the 200d MA (7.067) for the first time since 9/10 has lent itself to some heavy short covering, see shares available below:
Symbol: MNKD
Availability: 1'000'000
Exchanges: NASDAQ
The rise of shares available to short in the past has typically led to coordinated FUD articles coming out to try and take steam out of any rally's...sans the MF article a little bit ago, they are not liking the s/p crossing the 200d MA as illustrated by the short covering. Expect those rates paid on borrowed shares to go down as the availability continues. Would love to see the week close out above the 200d and hold through next week, currently a nice bullish hammer for the weekly chart is in shape so lets see if it can close near the highs tomorrow afternoon. The XBI is bouncing nicely off its test of the 50d MA yesterday as well.
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Post by BD on Feb 5, 2015 12:09:10 GMT -5
This is sure feeling like an "orderly" squeeze... my favorite kind |
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Post by shortslaver on Feb 5, 2015 15:27:04 GMT -5
Significant volume on a day where we are trading above the 200d MA (7.067) for the first time since 9/10 has lent itself to some heavy short covering, see shares available below: Symbol: MNKD Availability: 1'000'000 Exchanges: NASDAQ The rise of shares available to short in the past has typically led to coordinated FUD articles coming out to try and take steam out of any rally's...sans the MF article a little bit ago, they are not liking the s/p crossing the 200d MA as illustrated by the short covering. Expect those rates paid on borrowed shares to go down as the availability continues. Would love to see the week close out above the 200d and hold through next week, currently a nice bullish hammer for the weekly chart is in shape so lets see if it can close near the highs tomorrow afternoon. The XBI is bouncing nicely off its test of the 50d MA yesterday as well. I agree, the 200DMA is a very powerful technical. Lots of people will and have covered because the trend has reversed and in q very powerful way. Closing this week above that trendline would be great. However, there's a gap at 6.80 and I would be shocked to see this head south a bit. RSI is quite high too. I'm looking to buy more at 6.75. |
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Post by joeypotsandpans on Feb 6, 2015 9:43:08 GMT -5
Significant volume on a day where we are trading above the 200d MA (7.067) for the first time since 9/10 has lent itself to some heavy short covering, see shares available below: Symbol: MNKD Availability: 1'000'000Exchanges: NASDAQ The rise of shares available to short in the past has typically led to coordinated FUD articles coming out to try and take steam out of any rally's...sans the MF article a little bit ago, they are not liking the s/p crossing the 200d MA as illustrated by the short covering. Expect those rates paid on borrowed shares to go down as the availability continues. Would love to see the week close out above the 200d and hold through next week, currently a nice bullish hammer for the weekly chart is in shape so lets see if it can close near the highs tomorrow afternoon. The XBI is bouncing nicely off its test of the 50d MA yesterday as well. Well this isn't too surprising: Symbol: MNKD Availability: 30'000Exchanges: NASDAQ Let's see how much pressure to the downside they can muster, shortslaver...you may very well get your opportunity to fill yesterday's gap open and get your order filled as they have already tried to push it back below the 200d MA (7.07) this am. |
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Post by liane on Feb 6, 2015 15:33:24 GMT -5
Significant volume on a day where we are trading above the 200d MA (7.067) for the first time since 9/10 has lent itself to some heavy short covering, see shares available below: Symbol: MNKD Availability: 1'000'000 Exchanges: NASDAQ The rise of shares available to short in the past has typically led to coordinated FUD articles coming out to try and take steam out of any rally's...sans the MF article a little bit ago, they are not liking the s/p crossing the 200d MA as illustrated by the short covering. Expect those rates paid on borrowed shares to go down as the availability continues. Would love to see the week close out above the 200d and hold through next week, currently a nice bullish hammer for the weekly chart is in shape so lets see if it can close near the highs tomorrow afternoon. The XBI is bouncing nicely off its test of the 50d MA yesterday as well. I agree, the 200DMA is a very powerful technical. Lots of people will and have covered because the trend has reversed and in q very powerful way. Closing this week above that trendline would be great. However, there's a gap at 6.80 and I would be shocked to see this head south a bit. RSI is quite high too. I'm looking to buy more at 6.75. Well, not quite 6.75, but essentially filled the gap. |
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Post by joeypotsandpans on Feb 6, 2015 15:40:38 GMT -5
Significant volume on a day where we are trading above the 200d MA (7.067) for the first time since 9/10 has lent itself to some heavy short covering, see shares available below: Symbol: MNKD Availability: 1'000'000Exchanges: NASDAQ The rise of shares available to short in the past has typically led to coordinated FUD articles coming out to try and take steam out of any rally's...sans the MF article a little bit ago, they are not liking the s/p crossing the 200d MA as illustrated by the short covering. Expect those rates paid on borrowed shares to go down as the availability continues. Would love to see the week close out above the 200d and hold through next week, currently a nice bullish hammer for the weekly chart is in shape so lets see if it can close near the highs tomorrow afternoon. The XBI is bouncing nicely off its test of the 50d MA yesterday as well. Well this isn't too surprising: Symbol: MNKD Availability: 30'000Exchanges: NASDAQ Let's see how much pressure to the downside they can muster, shortslaver...you may very well get your opportunity to fill yesterday's gap open and get your order filled as they have already tried to push it back below the 200d MA (7.07) this am. Yes, as Liane pointed out we filled the gap on the daily chart and take a look at the following after the 1 mill. shares available yesterday morning: Symbol: MNKD Availability: NAExchanges: NASDAQ |
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Post by shortslaver on Feb 6, 2015 16:40:13 GMT -5
I agree, the 200DMA is a very powerful technical. Lots of people will and have covered because the trend has reversed and in q very powerful way. Closing this week above that trendline would be great. However, there's a gap at 6.80 and I would be shocked to see this head south a bit. RSI is quite high too. I'm looking to buy more at 6.75. Well, not quite 6.75, but essentially filled the gap. Yeah, my buy missed. But, may have more opportunities. Staying patient and sticking with the plan. |
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Post by jpg on Feb 6, 2015 18:13:05 GMT -5
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Post by papihoyos on Feb 7, 2015 17:14:39 GMT -5
Had my order in at 6.75. I have an order in everyday at 8% below previous days closing price. However, I did get filled on the my order to Sell Mar'15 8 Puts at 1.60.
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Post by shortslaver on Feb 9, 2015 11:54:44 GMT -5
I did Friday night AH. I was walking to meet some friends and saw the Blackrock filing go out and bought some common stock at 7.04 AH. Half of what I wanted to buy overall, but happy with it overall. Will buy the rest (and maybe some shorter term call options) on the next decent pullback. |
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Post by goodby1 on Feb 9, 2015 13:11:50 GMT -5
Looks like we're running at 7.60 again today. Do you foretell a breakout if we close above 7.60?
Also... when do we have some confirmation that this is the fabled squeeze we've all been waiting for for so long?
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Post by BD on Feb 9, 2015 13:20:24 GMT -5
While it can be pretty obvious when news triggers a squeeze and a stock goes up 25-30-35%, I don't think it's quite as obvious when the squeeze manifests as a slow burn, which is what I believe is going on here. This is my favorite kind of action, because as it occurs over days or weeks, there's an opportunity to strategize and ease in/out of positions.
My gut says this has been and continues to be a squeeze, punctuated by the occasional (ineffective) bear raid.
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Post by shortslaver on Feb 9, 2015 13:34:15 GMT -5
While it can be pretty obvious when news triggers a squeeze and a stock goes up 25-30-35%, I don't think it's quite as obvious when the squeeze manifests as a slow burn, which is what I believe is going on here. This is my favorite kind of action, because as it occurs over days or weeks, there's an opportunity to strategize and ease in/out of positions. My gut says this has been and continues to be a squeeze, punctuated by the occasional (ineffective) bear raid. I agree. I don't suspect we'll see a quick shot up like in some squeezes. I expect the short interest will just keep covering and creating more upward pressure over a sustained period. Dips will be seen as opportunities for short interest to cover helping the stock recover. Keep in a mind a lot of short interest got in well above these levels and is still very convinced this won't sell. And there is no evidence it has yet since it has just been released. If we see good prescription numbers over the next few months the jig will be up for them and you'll see constant upward pressure into the 20-30 range over the year I suspect. A big "if" though. You have to wonder if SNY reps have been giving feedback to connected investors that they're actually getting interest here which has aided the run up over the last 2 weeks... |
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Post by babaoriley on Feb 9, 2015 13:56:38 GMT -5
Shorts will not move monolithically, as they have different tolerance levels and different entry levels, etc. However, this is playing out as the "perfect storm" this trading session. The BlackRock move undoubtedly got some shorts to cover, also caused more retail buying, and, more importantly, more institutional buying and investigating. At the same time, the buzz over the launch and the drug is expanding, and likely will continue to do so for some time. I always worry about market cap (and myriad other things), now at $3 billion, but I guarantee you that many of our new retail know nothing about market cap, and they just look at $7.50 and think, "wow!"
Let's get those two other lines up, guys!!
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