DNDN UPDATE & ONT
Lets recap the bruising of DNDN share price plummeted from 25.25 backed to 4.95 after the released of FDA reviews of Provenge.
Insiders could have received the reply from FDA 1 week in advance before the 2nd rally that rode the share price up to 21.80. One would be able to identify there was a huge block of shares were off loaded, could be by insiders, on May 4 Friday. The sell off resumed on Tuesday and share price close at 17.74. FDA reviews were officially released early on Wednesday morning that lead to the sell off before the market open. It was pure manipulation by the insiders that caught traders and investors off guard seeing the shares price being hammered by hedge funds.
How to recover loses?
We have to go back to basic, "Plan your trade and trade as planned". I will not hesitate to cut loss on the first day of the sell off in anticipating further loses that could affect my emotion mentally. We would not be able to focus our next trading plan as the wound could harm us emotionally. There are lots of uncertainty clouded over DNDN development within the next quarters, although there could be a plan made by the management to present required data by FDA.
Meanwhile, DNDN share price rebounded after hitting 4.95 low and closed at 6.11. The rally could last another 2 or 3 days only as there could be traders and investors who would sell their holding at strength. Short covering by hedge funds would send the share price up to 6.47 (Fib 1.62) and 7.65 (Fib 6.82) on Monday and Tuesday. The sell off will resume after the short covering ended.
See attached DNDN chart.
ONT
kenttkw
Remember, Buy the rumor, Sell the news
Resistance at 3.04, see attached chart
Guys
Do not repeat the same mistake, lock your gains when necessary.
Don't let your profit turn into loses
Decision is yours
JMHO
12 comments:
Sold DNDN 3K 6.51
Will decide later to sell the remainder of 3K
High of the day 6.65
Support 6.31
Robert, Adam & Morsid
Any update
Sold 3K 6.20, the support 6.23 breached
Will go in later
17.4 million volumes traded so far
Gap 6.11 filled, may be bottom in place
DNDN such a volatile trading
Hi guys, what do you think?
DNDN close red or green?
Let me guess, it will be green
Reason, short covering, MMs will push the price up 7.50 (today or tomorrow) and off load their holding bought $15 above last week.
DNDN next entry 6.19
ONT - time to sell
Sell Order 55 K 2.92, 77K 3.00
DNDN is about to move
hey fakir,
I got in on ONT at 2.29. I like the DNDN analysis..
Adam
Adam, lock your gain for ONT b4 it is too late
unlikely to breach 3.00
I'm quite familiar with ONT, you will see the price back to 2.3++ by Wednesday
DNDN is in a bear rally
There is still room for you to make money but must go in by today
Anything below 6.30 should be O.K
Stop loss 6.18
Morsid, I don't think we can get 6.19 at this moment
Timing is important, right entry & right exit
Guys,
If DNDN close above Fib 0.162 +6.44 today, the rally will continue tomorrow to test Fib 0.392 = 7.66 then back to re-test 4.95
My guess, tomorrow will be another sell off after morning rally.
JMHO
MMs are setting up rally in the afternoon after 1.30 pm
Watch the move
Resistance 6.45
Robert
Are u around?
Shorts Q to sell 48K 6.49 & 53K 6.50.
Will be taken out soon
Vested interest
Out 6.35 for lunch
We shall see DNDN below $6 tomorrow
Don't touch, wait till Wednesday for another round
zzzzzzzzz
got out of ONT at 2.82
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