BUY CTIC $1.64
SOLD STAR $22.53
BUY SOMX $2.28
BUY BNK.TO $3.87
Equity markets had a wild ride today as they fell sharply lower at the open, rallied midday, and then came off a bit at the end of day to close slightly positive.
CTIC has finally broke out of a 3 month pennant pattern with huge volume today, trading more than 84 million shares. They are expecting to be announing FDA approval for their H1N1 drug on Monday so volatility on this pharma is high going into this news event. May take some off in the next day or two to lessen my exposure as this news event on Monday could possibly swing big either way.
SOMX broke to the upside nicely above its short term downward trendline as well as bouncing off its longer term upward trendling going back to mid March. The 50 day MA is right below which it has been following and volume was above average today on this stock.
BNK.TO had a nice run this morning as oil inventories came in more bullish than estimates, however it retreated to close lower. This is a name I have mentioned many times before and I believe it has more legs to go higher. It just broke out of a short term ascending triangle with heavy volume and as long oil prices continue to stay firm, this stock will be huge winner. I have this one from before and today I just added to my position.
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