Options Trading News

July 2, 2013  Tue 7:35 AM CT


Xbox Exec at the Helm

Zynga announced it hired Don Mattrick as CEO, replacing founder Marc Pincus. Mattrick is well known for building Microsoft's Xbox into a major gaming platform, and the news is propelling ZNGA higher by 7 percent before the bell on my tradeMONSTER platform.

Achillion Down on FDA Move

Achillion Pharmaceuticals said the Food & Drug Administration froze clinical trials of its experimental hepatitis C drug after some patients reported higher liver enzymes. ACHN craters 21 percent in the premarket.

Xyratex Rises on Strong Results

Xyratex reported second-quarter earnings of $0.10 a share, while analysts had expected a $0.05 loss. Revenue of $216.2 billion also topped the $203.2 million consensus number. XRTX rose 5 percent in early trading.

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The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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