Posted by: ctraderd | February 3, 2013

Watchlist- Week of 2/4/13 $DXJ $KERX

As January closed out, The Dow Jones Industrial Average gained +113.81 for a small total of +.83% and the S&P 500 gained +10.67 for +.71%, steadily holding the $1,500 level for all the days except Thursday where the S&P closed at $1,498. QQQ shares gained +.55 for a total of +.82% on the week, closing Friday’s trading session at $67.66. As January comes to a close, I had an awful month, losing $1,198.84. I only made six trades over the month, 3 of them were losses, 3 of them wins. My account hit a new all time low this month as well. What really killed me this month, was the straddle I had on CAT, which lost me ~$1,400. I will try as hard as possible to bounce back in February, but it won’t be easy.

Last week, I finalized two trades, closing CORT at a $138 loss, and I tired to play AMZN, but lost –60% on the trade, totaling the loss at $144. Overall in February, I am down $174.09 including commission. You can see those trades on my profit.ly page. I also opened up a long position of 5 KERX Feb13 8 Puts, and I am up +35.2% on the trade for +$150.

1.) WisdomTree Japan Hedged Equity (DXJ)

DXJ gained +1.44 last week for a total of +3.71%. I am now up 10.8% on my shares in just a little over one month of holding them. The Nikkei 225 is steadily rising, which is a good sign for this ETF. Remember guys, this is still my #1 Pick for 2013. If you are not already in, I advise you to jump in at sub $40 or sub $39 levels.

2.) Keryx Biopharmaceuticals Inc. (KERX)

KERX gained +2.12 last week for a total of +42.57%. I bought into the Feb13 8 Puts on Friday at $.85 when the stock price was at ~$7.80. KERX ended up closing Friday’s trading session at $7.10 and after hours trading at $6.93. The reason why I am playing this one is for a classic rundown of Phase III results. On Monday January 28, KERX released Phase III results for their drug Zerenex (ferric citrate) as "a treatment for hyperphosphatemia in end-stage renal disease patients on dialysis." The results sent KERX flying, gaining +246% on the first three trading sessions after the Phase III results were released. KERX hit a high of $10 per share, and then pretty much dropped like a rock down to $7.10 which is where it is at now. I believe that this rundown is just starting and could make us triple-digit percent gains on these options if we are patient. 

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Responses

  1. Bud, there’s also a lawsuit filed against $KERX that just came out on the 1st. I retweeted the article

    • Thanks for the info man. I’ll check it out!


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