Posted by: ctraderd | November 25, 2012

Watchlist- Week of 11/26/12

Happy belated Thanksgiving! In the shortened third week of November, the markets bounced on very little volume. The Dow Jones Industrial Average jumped +491.91 for a total of +3.86%, the S&P 500 jumped +57.03 for a total of +4.22%, and QQQ shares closed half-day trading on Friday at $64.90, jumping +2.99 for a total of +4.83%. I closed out 600/900 shares of FOLD this week for a $209.97 profit. You can see the trade on my profit.ly page. I also opened up a position of 3500 HEB this week. Keep reading for more explanation on the trade. Before making any decisions based on this article, read my disclaimer and do your own research!!

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

EEM gained +1.42 for a total of +3.53%. I am down –520 on my Dec12 43 Calls and down –189 on my Dec12 43 Puts. I should have taken profits on the Puts when I was up +220, so this is another lesson to you guys to TAKE PROFITS! This lesson is one of the most important lessons in trading. However, there could be a possible down move on EEM to 40 because the index’s chart is starting to resemble a short term “W.” If you remember, I tweeted about this chart pattern when I saw it coming on X and my prediction turned out to be right.

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2.) Exelixis, Inc. (EXEL):

EXEL was on fire last week, gaining +.56 for a total of +11.89%. The stock closed on Friday at $5.27, finally breaking the huge $5 resistance line. This could have been the start of a late run up into the November 29 PDUFA of Cabozantinib, which takes place this Thursday. I have not decided whether or not I will hold through the news yet, because there are many people that are still bearish on EXEL. I will most likely not hold through the news, because this method has proven awful for me in the past. Check my Twitter for any updates on my position. My price target still remains $5.50+.

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3.) Amicus Therapeutics, Inc. (FOLD):

FOLD was also on fire last week, gaining +.54 for a total of +12.50%. With Phase II results of AT2220 coming out on Friday, this could cause FOLD to bounce considerably. I closed out 600/900 share position for a $209.97 profit on Wednesday because Amicus was being run up greatly. I believe that these Phase II results could send FOLD above our $5.75+ price target as well, if they are positive. Amicus also has another catalyst coming up on December 31, 2012 which is Phase III results of Study 011. I believe that this catalyst could send FOLD as high as $10+.

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4.) Hemispherx Biopharma, Inc. (HEB):

HEB gained +.0179 last week for a total of +2.45%.On Friday, I opened up a long position of 3500 from $.745 average.The reason for my buy into HEB is because the company has a AdComm of Ampligen, which is a drug for Chronic Fatigue Syndrome, on December 20, 2012. If the data is good, I believe that HEB will be run up past our price target of $1.00+. HEB also has a PDUFA scheduled on February 2, 2013, which there may be a run up into the date as well. Overall, our price target is a $1.00+ minimum.

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