Today we had some strong movers in the biotech/healthcare space, including AMGN, PTLA, SGMO, ZTS, PRGO, and others. But it wasn’t necessarily the one of the easier days to find entry signals. Many of the stocks we looked at today moved very abruptly and then stopped or retraced sharply. However, one of the better opportunities we saw today was ACAD. The stock had negative news on earnings, with misses on EPS, guidance and revenue. However, instead of the sharp move downwards that would be expected, instead the stock moved up sharply. Here’s a recap of what happened.

Mike Patton
Mike Patton
Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.