Yesterday DNDN plunged from the 24-25 range all the way down to 7.50’s before being halted.  The Nasdaq isn’t giving much of an explanation other than the trades will stand.  I’ve read a bunch of message boards, blogs, articles, etc with a lot of people upset with what happened, but this isn’t anything new.  To investors it doesn’t seem to make a whole lot of sense how they could get stopped out of a trade that tanked hard only to see it recover in the after hours market.  There’s a ton of money at stake here in DNDN, with tons that were on the short side and now obviously tons on the long side.  Do some research on the FDA guy who made the decision 2 years ago to not approve Provenge after the advisory board gave their approval of it with flying colors.  Anyway, back to the present, if this drug gets approved this will be a blockbuster drug.  We’re talking like when asprin first came out, or claritin, heck even viagara type numbers.

So what happened yesterday?  This is my take on it so it’s speculation, but I think it’ll give you a pretty good idea of what really happened…  We all know big money moves the market, us small fish just have to be vigilant to catch the ride whether you take a fundamental or technical approach to the market.  Here’s a good way to think of it.  Have you ever seen shark documentaries that show sharks in the ocean that are followed closely by several fish or schools of fish?  Well that’s the same way you should look at the market.  The big money players are the “sharks” and us small money are the schools of fish following.  They go in for the attack and we can scrounge up leftovers.  Anyway, the big money yesterday alot of which was positioned on the short side but also on the long side probably dumped as much as they could to drop the price, at the same time had orders to buy as much as they could.  Remember the stock market’s prices are determined by open available shares to sell and to buy.  Those who put in stops had to understand that they put them in place to say if the price of the stock goes down then trigger my stop so I don’t lose more if it continues downward.  The “sharks” went ahead and sold down, and then covered as it was in the tanker.  For 2 minutes they were making the market.  Now it could have been a couple large holders or funds that collaborated in that.  Again speculation but it makes sense and to some degree follows the set up of the open market.  So is it illegal, you’ll have to get a good lawyer to figure that out, was it manipulation, for sure it was.  The thing that gets me though is that the Nasdaq didn’t seem to want to offer an explanation, just that the trades will stand.  Ok, hopefully that made sense   Anyway, needless to say DNDN should be on your watch list for sure.  The next phase is if it gets approved by the FDA.  We’ll have to see if there’s any timelines or if it gets fast tracked.  Speculators are ranging this one all over the place.  Saying it could be $35-50 very soon and some are even saying it could be a $100-$350 stock if it gets approved.  We’ll continue to monitor this one but be sure to keep an eye on it!

Pacquiao just had another baby and now he’s off with some other chick named Jasmin? Yeah, thats right..she’s white, round in shape, and very fulfilling. Only thing is, she’s not human. Im talkin’ bout Jasmin rice, yeah, you can stop now. This saturday, may 2nd, Pacquiao will face Ricky Hatton for his title and if he’s still on that De la hoya high, he better ask Ziggy what happened to pops. Regardless who wins, both of these suckers are makin’ that green. If i were Hatton i would thank Manny regardless cause I dont think he’s ever made that much off a knockout (i guess we know who im rootin’ for). Back to Pacquiao and Jasmin, he better be ready both mentally and physically because i highly doubt Hatton is as easy as De la hoya. Either way, this fight will be good so if you haven’t already, get ready to fork out $55 and gather everyone around your Television.

Bulls believed that Jesus [1] was the answer but they guessed wrong. Tonight was game 5 and we lose by 2 in OT. Ray Allen fouled out and I thought, OK, this game is locked for a W. I guess i was on the same boat as the Bulls. Turnovers, defense and careless mistakes were our problems. There is no one on the Celtics that we need to double, so i dont see how the Celtics are gettin’ wide open bucketsSo we pretty much lose to a Celtics team without Garnett and Allen. Game 6 is in Chicago on Thursday and once again im at a home playoff game where the Bulls are on the verge of elimination…I guess my prayers haven’t gotten answered either.

on with some other issues thats been runnin’ in my head..

Is it a coincidence that the Lakers and Cleveland are the two best teams in their respective conference and are the first two teams to move to the second round? I still believe these two teams are goin’ to the Finals. I’ll get back to that later, but anyways, what the heck is goin’ on in New Orleans? The last time I asked that question, Kanye West had some words for our former President. Chris Paul was stat-less, Peja shoots air-balls, and Byron Scott started growing hair on the sidelines. It’s such a disappointment seein’ the Hornets struggle because they had such a good year last season. With their core still in tact and some new additions. This also goes to another LA team that also plays in the Staples.

Right now, im watchin’ both the Spurs/Dallas game and the Portland/Houston game. As far as the Spurs are concerned, they miss Manu badly. It is a close game but either way, if the Spurs win this game, they’d still be down 3-2. On the other side, Portland is and looks much like a new team in the play-offs. They were one of the most exciting teams during the regular season but in the playoffs, experience is everything. Something they have don’t have yet. Wouldnt it be crazy though, if Houston does advance to the 2nd round with T-MAC out? Maybe that says something about T-MAC and his future..who knows.

one last thing, Dwight Howard (yeah, Superman) throws elbows??? and to make things worse, he injurs his own players (Courtney Lee)…hopefully he’s alright, and hopefully Superman doesn’t get suspended. but its not lookin’ to good.

[1] Ray Allen’s role of Jesus Shuttlesworth in the film, He Got Game.

Futures way down this morning.  Fears of Swine Flu contributiing to the downside premarket action.  Seems kind of like an excuse to have the markets sell off a bit here, but we’ll keep an eye on things.  If you decide to dabble in the hysteria of it today GILD and NVAX may be the ones to trade because of their price and volume.  Alot of the other ones seem to be more risky in that they’re cheap pennies and can easily be manipulated.

What we’re watching today:

In addition to those we’re going to watch what HUM does.  We don’t have a lot of price points that we’re comfortable with just yet but we’ll have to see how things play out this morning.

DNDN as well ahead of tomorrow’s research conference.

Trade Smart!

First Blog, first In N Out Burger, First win at Home in the Playoffs. All three are equally good. Bulls beat Celtics in a battle of the ages 2 OT’s 1st round series matchup. So anyways, I was in the Bay area since Thursday and I tried my best keeping up with the Playoffs; it was tough but I’m glad I got to witness the Bulls game, or at least the first 4 regulations. I went to In N Out Burgers for the first time and I guess it was worth missing…na, it wasn’t but the Burgers were great though.

Rondo and Rose went at it again, but the game itself was great. As far as the Celts are concerned, they just aren’t the same without Garnett. The Bulls know this but haven’t really taken advantage yet; maybe Scalabrine’s concussion and headband has something to do with it.
Game 5 is back in Boston and thats a must win for us because Game 6 is here in the Windy City and we can close it out here [did I mention I'm goin' to that?]. Gordon needs to have a good shooting game, Rose must dominate, and Kirk must keep the same intense defense on Pierce. The X-factor(s), in my honest opinion for Game 5, is Noah/Miller; foul Perkins out the game. Those are my keys to winning Game 5.

Oh yeah one last thing, Big Baby definitely studied and took some of Ric Flair’s acting back during his WCW days.

-k0beef

Lions of course chose Matthew Stafford with the first pick. Mark Sanchez went to the Jet’s with the fifth pick which they got from trading with the Browns.   There were some surprises such as Michael Crabtree dropping down to number 10 many had him to be the first wide receiver to be drafted, but the first Wide Receiver was Darius Heyward-Bey who went to the Raiders. Denver took a linebacker with the pick they got from the Cutler trade. Below Is The List of the people drafted in the first round.

TREASURY STRESS TEST ASSUMPTIONS: BANKS TO BE TOLD TO HOLD BUFFER FOR LOSSES THROUGH 2011 <related: XLF BAC C PNC STI BK JPM RF WFC > 4/24/2009 2:00:13 PM

Scarfoe – Audio Documentary (The FreeMix Vol.1)

1. Smooth Sailing (Remix)
2. We Can Freak It (Cops Up Remix) feat. Curly
3. My City feat. Massiah
4. Remember Them Days (Remix)
5. Keep On Hatin Me feat. Memo Jackson
6. Gotta Survive feat. Sean B.
7. Keep On Pushin (Remix) feat. Tata
8. Lollipop (Remix)
9. I Was Dealt These Cards
10. Losing Affection feat. Wannary
11. I Need A Freak
12. Roll Wit Me (Whatever You Like Remix)
13. West Coasta Nostra feat. Sureloc
14. 2-Nite’s Tha Nite feat. Bundy
15. Russian feat. El & Lay
16. It’z In My Blood
17. Hoodfresh Diss
18. Rocketship (Remix) feat. The A’z & Sean B.
19. All A Dream feat Krooked (Bonus Track)
20. Hate On Me feat. Young P, Krooked & J. Kastro (Bonus Track)
21. Hellrazor feat. Drowzy (Bonus Track)

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Futures way lower this morning.  Isn’t that just like the MM’s to do that?  Our SPY and SDS positions went past our stop levels on Friday and now are gapping a good bit in the direction we would have wanted to ride it up.  Well, you do want to have stops in place though, especially if you’re set up is to daytrade it.  Anything could have happened over the weekend so not a big deal, just have to be ready for today’s action.  This is an exremely high/low gap in premarket action so make sure you’re watching direction before jumping in.  This does set things up for the SPY and SDS set ups on Friday so if you take them trade them cautiously.

What we’re watching today:

With the large gap down this morning things aren’t setting easy(granted in this market it’s never easy).  So here’s just a few we’re going to watch…

GS – trading down to 116.50’s here in premarket.  If it opens and starts to run a bit decent short entry may be in the 118’s and if it does end up breaking down today it may see the 112-113 area today.

DNDN- we should have just stuck to this one on Friday as it ran up 10% intraday.  This morning it gapped up on more positive data news.  This one continues to be a good buy the dips play with the pending news.  This one could go either way if it gets approved by the FDA.

Trade Smart!

Markets continued to run a bit to the upside today.  GOOG and GE both reported with decent earnings and GOOG even had large upside after hours action, but has since come back down to close to even on what it closed at.  Tomorrow is options expiration so we can expect to see another run in the morning then possibly quieting down in the afternoon as most positions will probably get close to being pinned in price.  It should be a very volatile session though.  We were looking at SPY and SDS and saw some key pivotal levels being tested even today.

On SPY we’re looking at around 87.10 or so as resistance so we’re leaning towards the short side unless the market gaps up for some reason above that.  Use that as a stop and if there’s enough downside we could see 83.50’s.

On SDS which is the ultrashort of the S&P 500 we’re looking at 65.75 area as a stop to going long.  This one would have more upside action at a target close to 72.50.

Of course we’ll have to see how the markets open tomorrow.  It’s options expiration and we’ll have to see how the street reacts to GOOG’s and GE’s earning reports.  We’ve seen the past where after hours it spiked then came back down, then in the morning it could be way up which could cause the market to open to the upside.

When we said a few weeks ago that SPY could see the 86-88 range we weren’t sure how realistic that could be but it hit 87.15 today which is just crazy!  A lot of traders we talk to can’t believe how high the market has come back to and are wondering how much higher can the street really bring it back up.  Goes to show what the big money in the market can do.  Alright this is overtime so we’ll see you in the morning!

Trade Smart!