Biotech and China Still Have Aggressive Trading

The most interesting thing about the action today is that there continues to be some pretty aggressive trading in very low-priced biotechnology and some select China names. On the biotechnology front some of the stocks popping up on my radar include Arena Pharmaceuticals (ARNA - commentary - Trade Now), MannKind (MNKD - commentary - Trade Now), Angiotech Pharmaceuticals (ANPI - commentary - Trade Now), China Biotecs (CHBT - commentary - Trade Now), Micromet (MITI - commentary - Trade Now), Endocare (ENDO - commentary - Trade Now), Zila (ZILA - commentary - Trade Now), CytRx (CYTR - commentary - Trade Now), Keryx Biopharmaceuticals (KERX - commentary - Trade Now), XOMA (XOMA - commentary - Trade Now). On the China list, the big movers are LDK Solar (LDK - commentary - Trade Now), Universal Travel (UTA - commentary - Trade Now), Huaneng Power (HNP - commentary - Trade Now) and a few others but it is much narrower in that group today.

There is still an appetite for action in the highly speculative stuff but it is very narrow and traders are moving faster and faster.

The market is dancing around a bit to the news coming from the Apple (AAPL - commentary - Trade Now) development conference and we are moving back to the top of the intraday range, but as always it's the final hour that will be the most important. The dip-buyers have seldom failed lately and they are gearing up once again, but I'm looking for a bull trap to be sprung soon on the late-day buyers.

At the time of publication, DePorre was long LDK Solar and Universal Travel, but positions may change at any time.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Arena Pharmaceuticals, China Biotecs, Micromet, Endocare, Zila, CytRx, Keryx Biopharmaceuticals, XOMA and Universal Travel to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com, an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here.