Dentalfloss
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all the news is in the charts.who cares about the drug trials,they are making billions.go with the flow
hindsight
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I haven't traded them again this week, i was really just making a comment about the likely impact of the drug trial results. AZN fell a further 3% after the US market closed today. The results weren't known until just after 10pm GMT tonight so i would expect (not going to trade unless confirmed in the charts) that they should also fall by around the same margin on opening in the UK on Monday.
Mark Barton
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a good news story does not guarantee a movement in the share price.mind the gap as they say on the london underground.the gap might be so large that there is nothing tp play with after 9.30
hindsight
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Mark, I totally agree with you. I believe it will open well down on Fridays close. In fact something strange happened with the price on close anyway. My etrade screens were telling me the close was 2495 and so was yahoo and Reuters, but all the charts showed a fall right on close to 2450. This was also reflected in my IG index prices.
CityTrader
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hindsight said:
Excuse my ignorance, but how do they fall after the US market shuts on a Friday night? Where on earth is the GDR traded for you to know this?
Also, don't you think that the market will also know this? and that they will open 3% lower ( if correct) on Monday? - so where exactly is the "trade" in this one?
hindsight
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Well I believe that certain stocks are traded out of hours in the US, and the quote came from Reuters last night.
"After the meeting, AstraZeneca's shares fell more than 3 percent in after-hours trading on Friday to $42.21 after closing down nearly 1.5 percent on the New York Stock Exchange to $43.74. Shares closed down 2.39 percent at 25.06 pounds on the London Stock Exchange."
There was no trade planned on Monday. I actually posted the news announcement in a new thread, but I'm guessing a moderator felt it should be related to the earlier AZN topic i started.
"After the meeting, AstraZeneca's shares fell more than 3 percent in after-hours trading on Friday to $42.21 after closing down nearly 1.5 percent on the New York Stock Exchange to $43.74. Shares closed down 2.39 percent at 25.06 pounds on the London Stock Exchange."
There was no trade planned on Monday. I actually posted the news announcement in a new thread, but I'm guessing a moderator felt it should be related to the earlier AZN topic i started.
CityTrader
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They mean in Instinet ( partly owned by Reuter I believe) Instinet is institutional platform for tading securities. Probably a good indication of where they are headed. BUT they will of course open easier in London Monday morning.....
hindsight
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The Guardian has a bit more info on the meeting and the possible consequences.
http://www.guardian.co.uk/business/story/0,3604,1302336,00.html
http://www.guardian.co.uk/business/story/0,3604,1302336,00.html
Mark Barton
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hindsight.dont concern yourself with company meetings.chief financial officer briefings etc etc.these people lie,to the public,shareholders.you are only concerned with the price action of the stock.
these people dont give a stuff about you or other shareholders,they want to line their pockets and their pension fund.we have all been there especially in the internet boom.
so the way forward is to watch the charts and see the price action.then make youre move.
screw them all otherwise they will screw you
these people dont give a stuff about you or other shareholders,they want to line their pockets and their pension fund.we have all been there especially in the internet boom.
so the way forward is to watch the charts and see the price action.then make youre move.
screw them all otherwise they will screw you
hindsight
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I dont think being aware of issues likely to effect the companies earnings does you any harm. Charts are not perfect and only provide part of the formula in my opinion. Intra day maybe, but any longer than that and real world information does effect share price movements. I dont need a chart to tell me which way this one is headed.
J
junkbondtrader
it all happened premarket.no chance for any day traders.old boys club_..what?
look at the volume pattern,price action,large blocks indecates institution interst,look ath the stock lending volumes.there must be institutional interest now at these prices.they have got nothing blue chip with any growth prospects.
when you really need the medicines azn will charge
look at the volume pattern,price action,large blocks indecates institution interst,look ath the stock lending volumes.there must be institutional interest now at these prices.they have got nothing blue chip with any growth prospects.
when you really need the medicines azn will charge
liamfitz said:big drop as was expected . stock now possibly oversold but who knows until the chart shows the way ?
anything above 2320 tomorrow could look good for a dead cat bounce !
If anyone is looking to buy and hold on AZN now is probably the time. The FDA rejection of Exanta was not the huge surprise that people have made out. If you go back to the clinical research they have been having problems with it for a while (damage to the liver I think). Even so AZN have other potential blockbusters in the process of being developed. This is reflected in the long-term charts as AZN has been ranging for quite a while now, waiting for a clear signal to move one way or the other.
Personally I don't think the Exanta news will precipitate a serious decline. Fundamentally this is still a strong company, especially when you consider some of the problems of its peers.
J
junkbondtrader
i have also got a potential blockbuster.two pints of stella .these company officials lie,also the press ramp the product. i also invested in a blockbuster 4 years ago.i was a client of killik and co,their blockbuster was varisolve licensed from btg,it has not even been approved by the fda. i lost my kishkas on that one.do not get pulled in by the hype
junkbondtrader said:
Junk Bon trader -- normally I couldn't agree more with you about this kind of information. However in this case it comes from my flatmate, doing his PHD and he really couldn't care a toss about share-trading. He is only interested in the research (a Nobel prize beckons for that boy........).
Anyway he was telling me about the Exanta problems 3 months ago. I have been watching this stock fairly closely ever since. After the massive volume on Thursday I got a clear sell on my trading system and by Monday had nailed 200 points by Monday on IG.
Even so I stand by my buy and hold proposition for now on this stock.
Dentalfloss
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agreed.but watch those liars
