Posted by: ctraderd | October 7, 2012

Watchlist- Week of 10/8/12

The first week of October brought pleasant tidings to the market, which was green overall for the week. I only made one trade in LNKD for a $219.80 profit in the first 10 minutes on Tuesday. For more information on the LNKD trade, visit my profit.ly page. I did not open any positions as I am low on cash, but I am looking to open more positions next week. The first presidential debates were held in Denver this week in which Governor Romney won the debate according to polls. Another news item that happened is that Turkey fired on Syria, and continues to fire, causing Oil prices to shoot up. Before making any trades based on this article, read my disclaimer and do your own research!!

1.)  iShares MSCI Emerging Markets Index (EEM):

EEM had a positive week last week, gaining +.18 for a total of +.38%, due to the fact that the whole market went up so it went up. I am down on both of my options at the Dec12 43 strikes. I am down –254 on the trade as a whole but I will continue to hold due the volatility from the upcoming election.

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2.) SPDR Gold Shares (GLD):

GLD fell slightly at –.32 for a total of –.19%. I am still holding my Oct12 172 Calls and Puts which were all over the place. They closed Friday down –538 for me combined. This is a perfect lesson for all of you on why you should TAKE PROFITS.

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3.) Exelixis, Inc. (EXEL):

EXEL lost –.06 last week fro a total of –1.19%. I am still holding my 1000 shares at various entries for a run-up for the Cabozantinib’s November 29 PDUFA. On a 1 year chart, EXEL looks like it is making a cup for the chart pattern of a cup and handle.

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4.) Achillion Pharmaceuticals, Inc. (ACHN):

ACHN gained +.49 last week for a total of +4.64% and has been a rocket over September to current gaining +4.00 for a total of +56.34%. ACHN came to my attention on Friday night while I was doing a screen. The company specializes in two types of treatments including treatments for HCV and treatments for bacterial infection. All of the companies treatments are still in Phases of research as of this post date. You can view the companies product pipeline http://www.achillion.com/pipeline. ACHN is on my watchlist due to volatility and is nearing a triple top chart pattern.

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5.) Logitech International SA (LOGI):

LOGI gained +.11 for a total of +1.19% last week. I put LOGI on my watchlist mostly for a volatility play and I might be entering a long-term strangle in the future but I am not sure yet. LOGI makes nearly all computer accessories including webcams, mouses, keyboards, monitors etc.

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6.) Sarepta Therapeutics, Inc. (SRPT):

No doubt that you have heard of the powerhouse SRPT, which gained +18.08 last week for a total of +111.58%. Last Monday, SRPT hit a high of $45 and fell from then on over the week down to $34.30 per share which is what it closed at on Friday. I will continue to watch this one and I will possibly add some calls on Monday. The news that caused this spike is that the company had phenomenal Phase II results.

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Disclosure: Long EEM Dec12 43 Puts and Calls, Long GLD Oct12 172 Puts and Calls, Long EXEL stock, No position in ACHN, SRPT or LOGI, but possible adds within next 48 hours.

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