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     melissa
Member
Username: melissa
Post Number: 4
Registered: 04-2007Rating: N/A
Votes: 0
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| | Wednesday, April 25, 2007 - 09:57 am: |  
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AVNR is a drug company which just announced their new drug on trail stage 3 having significant effect to reduced the pain for Dietbetis.
Before the news it was 1.27. On the day it announced the news, it traded 12 million before market open. The price was up to 4 already.
When market opened 3.6 to 4.3 down to 3.5 level, should have bought at this level, I went to sleep when I woke up , it closed at 5.2.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=avnr&time=&freq =
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smallworld
Member
Username: smallworld
Post Number: 593
Registered: 01-2004Rating: N/A
Votes: 0
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| | Wednesday, April 25, 2007 - 11:39 pm: |
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Hi Melissa
You haven't told us you're in AVNR or not. Are you?
If you're not, would you think of getting in at the current price level.
The price spike seems to have partially filled the gap left in Nov last year. How do you see it?
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melissa
Member
Username: melissa
Post Number: 5
Registered: 04-2007Rating: N/A
Votes: 0
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| | Wednesday, April 25, 2007 - 08:34 pm: |
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On 19th, day two when it went up, it opened at 6.3 and up to 6.75 , from there it continue to go down for the whole day to close at 3.9.
On 20th, day three, it opened at 4.2 down to 3.89, went up to 4.6. I bought 1000 at 4.4 then 2000 at 4.2. It closed at 4.4.
On 23rd , news its loss will be 11 million instead of 12.6 million, pre market it went up to 5.1 to 5.3. It opened at 4.9 up to 5.07, I forgot about my original goal , did not sell it at the high open, but bought 3000 at 4.8.
Now it went down , I was in trouble. After noon I saw it wouldn't go up, I decided reduce my shares.
sold 1000 at 4.71
1000 at 4.71
1000 at 4.78
850 at 4.83
It losed down at 4.52
On 24th, it opened low I sold the remaining 2150 at 4.14.
Now 4.07.
The shark broker Bank of Montreal charged me 360 dollars for commission. The whole play lost 6 dollars plus the 360 commission.
Big lesson learned, include never trade with a bank charge 29 dollars less than 1000 shares. You can't win.
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chart_rider
Member
Username: chart_rider
Post Number: 212
Registered: 01-2005Rating: N/A
Votes: 0
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| | Thursday, April 26, 2007 - 06:30 pm: |
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melissa
Hate to sound too much of a critic, but reading you post I get the feeling you do not have a trading plan (?).
As in your heading - open for discussion......
CR
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melissa
Member
Username: melissa
Post Number: 5
Registered: 04-2007Rating: N/A
Votes: 0
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| | Thursday, April 26, 2007 - 06:24 am: |
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Today I bought 2000 at 3.51 again, sold at 3.43 lost 160 dollars ,plus the greedy BMO investorline commission of 120 dollars. Lost 380 US hard earned money.
No more for BMO commission. This price is not for a day trader.
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melissa
Member
Username: melissa
Post Number: 6
Registered: 04-2007Rating: N/A
Votes: 0
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| | Thursday, April 26, 2007 - 11:05 pm: |
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Bought avnr 2000 at 3.51 again sold at 3.43, lost 160 dollars plus 120 dollars commission. 380 .
No more for Bank of Montreal investorline
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rockon
Member
Username: rockon
Post Number: 164
Registered: 08-2003Rating: N/A
Votes: 0
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| | Friday, April 27, 2007 - 09:17 pm: |
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Hey Melissa,
Have a look here.....
www.penntrade.com
Cheers.
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smallworld
Member
Username: smallworld
Post Number: 594
Registered: 01-2004Rating: N/A
Votes: 0
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| | Saturday, April 28, 2007 - 09:30 am: |
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Of all the speckies I've traded, Biotech has to be one of the most difficult ones to trade. Probably because daytraders dominated most of the activities with little or no positional trader or long term investor support. I think it may be better to offload stocks on the way up rather than waiting for it to reverse.
Melissa, Have you noticed that AVNR may well be doing a higher low, this is the case on an hourly chart and there is more volume on upswing than downswing.
Now if you want to lower your brokerage, I recommend you investigate interactive brokers. Their brokerage is cheap and online platform is excellent. http://www.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc
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