foreigner251
Long

The "Ol' Faithful" RTRX channel might not be over

NASDAQ:RTRX   RETROPHIN INC
Early August proved that all good things can come to an end including the extremely consistent and profitable channel RTRX followed for 6 months. However, recent trends in RTRX may indicate that the original trend channel that ran so consistently might have merely shifted with its August dip. The angle is a complete guess at this point until a second channel bottom is confirmed, but regardless of the angle, this could be the start of another channel for this stock if not just a good swing setup. December $30 calls are my preference for this move since the October calls may not provide enough time for the full swing and would be subject to higher theta being that close to expiration.
Sep 25
Trade active: Opened several more call positions at closer expiration once it hit my bottom channel line today. Short dip below and then the fun started! I plan to exit half at 100% profit on my calls somewhere in the low $30 range (need to see exactly where that is now with the new positions) and phase out of the rest between $32 & $33 range.
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