NFLD

[ScottishTrader]

Agreed.  it does look like it may have formed a short term bottome, bu if there is a rally, it might just be a weak relief rally, so would probably only be worth flipping quickly.  As I see it, there are 2 descedning trendlines coming off the top of the gap on the intraday chart.  One was broken yesterday, and then NFLD went into a horizontal holding pattern for the rest of the day between 4.05 and 4.18.  The other is still coming down and looks like it ended yesterday at around 4.30.

It could be worth a relief play if it breaks above 4.18, provided you set your stop below yesterdays 4.05 low, giving a reasonable risk of 3.5-4%.  But the problem is, I just don't like the idea of holding a stock like NFLD for any length of time right now, unless it shows some kind of strong rebound behaviour.

Good luck if you choose to play it, I might too, the risk:reward, technically is appealing.

[Samantha Stephens]

ST - Fab advice... 

Just a technical question for you - - when you look at this in a couple days/weeks ... long term (daily), would you draw resistance from top of the candle that broke down (pre fall) or would you start drawing resistance at the top of the post fall candle. Either way, I'm assuming you're minding the gap... it's the severity of the resistance downward angle that I'd like to know how you chart... What do you do...? On really digger resistance lines, I worry that I'm reading too much into a "bounce" off the resistance.... When I draw my lines less severe, I like to think it's signaling consolidation with a bounce/fall ... how do you read the tea leaves??

My only thought is that the major trend is still down. The daily candles are still down ... and even though it tried a "rally" of sorts today the range is still pretty tight. Today the close and open were pretty close , but the wicks are short... so I'm not sure that really makes a convincing doji star (yes ... I can do more than read option taro cards... and be blond... all at the same time )

I think that if I were to play with this stock, I would want a daily chart turnaround. Most will say that would be too late of a confirmation. The options have leveled out - though they are still high from now until Jan09 - no skew to report anymore... which either says no news .. or nowbody cares ... and both are bad if you're trading and want the stock to move. I don't know what the natural level of the options should be ... so I can't suggest buying the options either. If the stock settles into a "pattern" the volatility will get sucked out. SO ... I have to fall back on why this stock was interesting to me in the first place... The options told me that this would move a good $3+ in one direction or the other ... that has happened, and I don't know of any new "news" that will correct such a "great" fall... The option/catalyst/news is gone ... for me.

I still love the story on this stock. But I'm just not sure how they can quantify/qualify their death results when their PIII trial was on varying levels of allready dying trauma patients. Seems like a strange luck of the draw test sample to me ... that at the very least would imply a revised test plan for approval. Which may take a while... COURSE ... you never know ... tomorrow they could come out with some news that reverses the impression from the pIII study ... maybe they'll be able to say that though they lost more people, the people that lived weren't veggies compared to the saline "standard". Seems like a plausible rebuttal. But I think that's putting a bit too much faith/hope etc into the trade for my liking...

Please don't get me wrong. I love this product's concept ... it's vitally important "stuff" ... I just think the lack of control in their test has really made this a hard stock to back with $ ... again ... though I love the concept.

I just don't think I could touch this yet ... course I have commitment issues. hahahahahahaha ....
-Samantha

[ScottishTrader]

Hi Samantha,

No time  to write just now (its christmas after all...), but thought I would just say that I picked up some at 4.10, just to see what would happen.  As I mentioned, I'm riding a fairly tight stop a little below $4.  Friday didn't give us the bounce I was looking for, but th doji is encouraging, and I think it has the potential to drift up on light volume next week.  My guess is that most sellers will have sold in that 2 day downtrend.  But I wouldn't bet the house on it and I'm not willing to give it much room.

I think we would see resistance at the low of the first candle, at 4.75, but it has to reverse  from this little doji first, giving us confirmation.  A more prudent strategy would be to buy a break above friday's high of 4.27, if it looks like it wants to go higher, it might be good for 10% or so.  It could even rally to near $6, but I would expect it to be a number of months (barrring significant good news) before it sees anything above that.

[MrChina]

let's see what happend today

[setravis]

AP
Northfield Labs Says SEC Probe Is Over
Wednesday August 22, 5:41 pm ET 
Northfield Labs Says SEC Completed Probe of Company Without Enforcement Action


EVANSTON, Ill. (AP) -- Northfield Laboratories Inc. said Wednesday the Securities and Exchange Commission completed its investigation of the development stage company and does not plan to recommend enforcement action.


The Evanston, Ill.-based company received an informal request to voluntarily provide information to the SEC on the development of its PolyHeme blood substitute product, the company said in March 2006.

"We are pleased with the outcome of the SEC's investigation," Dr. Steven A. Gould, who is chief executive, said in a phone interview.

Northfield develops PolyHeme, a late-stage clinical trial blood substitute.

The SEC investigation announcement in 2006 came after The Wall Street Journal in February last year reported the results of a PolyHeme study, which Northfield hadn't disclosed. The study showed there were 10 heart attacks -- including two patients who died -- among 81 surgical patients who received PolyHeme, according to the Journal.

[setravis]

Excellent!
with the news now maybe it can make a run at filling the gap.
Back above the 50-day MA...13-day MA has crossed over the 50-day MA

52wk Range: 1.00 - 17.94
Volume: 1,103,361
Avg Vol (3m): 356,261

Technicals
Close Above the 50-day MA
Percentage Gainer

Last Price Quote is:
22.80%above 13-day MA
10.91%above 50-day MA
RS Rating: 87 

Fundamentals
Earnings Expected on Aug 31

Key Data:
Market Cap (M): $44.68 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 10/09/2007
Last Analyst Rating: Neutral

[setravis]

Now that is "Bloody Marvelous!!" 


52wk Range: 1.00 - 17.94
Volume: 7,949,755
Avg Vol (3m): 448,177

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
96.04%above 13-day MA
77.05%above 50-day MA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $44.68 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 10/09/2007
Last Analyst Rating: Neutral

[setravis]

BIOTECH STOCKS
Drug stocks join broader market rally

BOSTON (MarketWatch) -- Drug stocks climbed in afternoon action Tuesday, as the broader market rallied on a stronger-than-expected sales report from General Motors.
The Amex Pharmaceutical Index (DRG:pharmaceutical index
Last: 341.05+2.70+0.80%

341.05, +2.70, +0.8%) rose 0.9% to 341.30 and the Amex Biotechnology Index (BTK:biotechnology index
Last: 790.92+14.76+1.90%

790.92, +14.76, +1.9%) jumped 2.3% to 793.66.
Forest Laboratories (FRX:Forest Laboratories, Inc
Last: 37.88+0.25+0.66%


37.88, +0.25, +0.7%) shares advanced 1% to $37.83 after hitting a session high of $38.74.
Early Tuesday, analysts at Goldman Sachs upgraded Forest from sell to neutral, stating that concerns about the company's upcoming patent expirations and pipelines are already "well captured" in the stock price.
Northfield Laboratories (NFLD:Northfield Labs Inc
Last: 2.65+0.99+59.64%

2.65, +0.99, +59.6%) shares shot up more than 70% to $2.85 in late day trading. Shares of the biotech group have been trending higher since late August, when the SEC informed the company it would not be taking any enforcement action following a probe into clinical trials for Northfield's blood product PolyHeme.
GTC Biotherapeutics (GTCB:gtc biotherapeutics inc com
Last: 1.17+0.15+14.71%


1.17, +0.15, +14.7%) shares leapt 13% to $1.15.
The biotech group said the FDA has granted fast-track status for its drug candidate Atryn, meaning it can submit data for its market application to the agency on a "rolling" basis. GTC is seeking to have Atryn approved to treat hereditary antithrombin deficiency, which can increase the risk of blood clots.