$QQQ $COMPQ $IBB $NDX $BIS $BIB
Just playing the continuation of the trend...
Don't catch a falling knife.
This is a risky long trading with attempt to try to pick the bottom, however it offers very low risk with high reward outcome.
Faded yesterday after hitting new high at $228.06
Due to worse than expected ER, and lowered guidance, and top of all failed $AGN acquisition, it is very possible that $VRX is going to $90-$100 price level. Company is not profitable and even if their international profits rise (mostly Russia and Europe), there are problems in creating sustainable growth.
Tuesday brought news concerning VRX's plan to takeover AGN which saw a noteworthy spike in volume and price today. Prices faded into Monday's trading range creating an Inverted Hammer near major support. With the price action movement, we saw the mac-d histogram make its first higher low over this last leg down along with a bullish cross coming from the...
Boy, does VRX have shtty fundamental, but interesting technicals. I used to hate geometry when I was in high school, but it looks like it finally paid off. I used dotted line to visualize the way that VRX could've gone if the Allergan deal doesn't exist. VRX rallied 1000% in the last 4 years, the Allergan deal is like a life support machine for Valeant right...