I just made a nice 13% profit on a biotech stock alert from Kyle Dennis (Raging Bull Biotech expert).
The Biotech Stock Alert was from Kyle Dennis and included in his watch list for his successful alerts service called FDA Insider Alerts. The stock is called ACRX and he is predicting that it could continue to build upwards price momentum in the coming weeks and months. Given that Kyle is someone that turned $15,000 in $3 Million trading stocks just like ACRX, I tend to listen his advice!
Kyle Dennis FDA Insider Alerts Watchlist
I bought ACRX because Kyle had identified it as a potential runner this quarter. With many of the issues that have plagued the stock out of the way (a stock offering) the price was starting to consolidate at a support level around $2.75 per share. It was clear to me that this stock had some potential so I bought a starter position at the support level of $2.75. Within just a day, insiders started to buy shares in the stock and pushed it up to $3.15 per share. If the CEO is buying with ‘real’ money then it doesn’t get much bullish than that!
Here is the daily chart of $ACRX with my buy and sells marked with arrows. You can see that there is a good chance that I was too hasty selling to quickly. The chart has a lot of upside potential back to $4 per share or more. However, my style is to just take 10% – 20% swing trade gains and move on. This is especially true in the high risk world of biotech stocks!
My guess is that ACRX pulls back and consolidates before continuing higher later in the year – but it is just a guess. I know that they do have upcoming catalysts, including an update on adcom information and another significant catalyst in November (PDUFA) that may be the main price driver at this point. However, for now I am happy with my 13% stress free win.
Kyle Dennis has been on a winning streak recently with some nice steady stock trading wins and gains (like this 36% win on $CTRL) from alerts in both his Sniper Report and FDA Insider Alerts services.
I am holding some other stocks longer term – $CIEN, $SWKS, $TTWO and $AMRN all of which have upcoming catalyst events later in the year. I love this style of trading – longer term holds make up the majority of my portfolio but I then supplement with some shorter swing trades. This is a strategy that I learned from Jason Bond and it has served me well.
Anyway, that is all I have to write about for the day! Hopefully these swing trading ideas will help you make a little bit of money.
Wesley.
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FDA Insider Alerts Review
Kyle Dennis Sniper Report Review
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Do you guys have any good biotech stocks on watch this week ? Be sure to check out Kyle Dennis and his Nucleus program for a complete education in biotech stock trading!
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