The Novice Bear: Genentech (DNA) has its back up against the wall

Thursday, April 26, 2007

Genentech (DNA) has its back up against the wall

Did you notice that IBD is now tracking the distribution day in all of the major indices now? I guess I wasn't the only one complaining about the Feb selloff. On that note, the NYSE picked up another distribution day today.

Also, it looks like DNA has tested the recent lows on lighter volume. I picked up some September out of the money calls. This will be another small trade, as it looks like there will be plenty of resistance at 85.

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kswing code


Dim i,j,k,last As Integer
Dim swing As Single = Me.CodeBlock.ParameterValue
Dim curhigh,curlow,swhigh,swlow,lowp,highp As Single
Dim pcswing As Single
Dim highbar, lowbar, chighbar, clowbar As Integer
		
pcswing = swing/100
    For i = 1 To InputCount-1
	If i = 1 
	curhigh = inputlast(0)
	curlow = inputlast(0)
	End If
			
	If last <> 1
				
	If inputlow(i) < (curhigh-curhigh*pcswing)
	last = 1
	swhigh=curhigh
	highbar = chighbar
	curlow = inputlow(i)
	clowbar = i
	lowp = inputlow(i)
	addtooutput(inputdate(chighbar),swhigh)
					
	ElseIf inputhigh(i) > curhigh
	curhigh = inputhigh(i)
	chighbar = i
					
	End If
        End If
			
    If last <> -1
	If inputhigh(i) > curlow+(curlow*pcswing)
	last = -1
        swlow = curlow
	curhigh = inputhigh(i)
	chighbar = i
	addtooutput(inputdate(clowbar),swlow)
					
	ElseIf inputlow(i) < curlow
	curlow = inputlow(i)
	clowbar = i
	End If
	End If
	Next

TDST Sell Line

Dim j,k As Integer
Dim x As Integer = 0
Dim m As Integer = 0
Dim n As Integer = 0
Dim p As Integer = 0
Dim ar1(50000), ar2(50000) As Integer
Dim Period As Integer = Me.CodeBlock.ParameterValue

For i As Integer = 4 To InputCount-1
Dim CurDate As Date = InputDate(i)
If inputlast(i) > Inputlast(i-4) And InputLast(i-1) > InputLast(i-5) _
And InputLast(i-2) > InputLast(i-6) And InputLast(i-3) > InputLast(i-7) _
And InputLast(i-4) > InputLast(i-8) And InputLast(i-5) > InputLast(i-9) _
And InputLast(i-6) > InputLast(i-10) And InputLast(i-7) > InputLast(i-11) _
And InputLast(i-8) > InputLast(i-12) And InputLast(i-9) < InputLast(i-13)
m = m+1
ar1(i) = m
End If
Next

For j = 4 To InputCount-1
If ar1(j) > 0 And ar1(j) > ar1(j-1)
n = n + 1
ar2(n) = j
End If
Next

addtooutput(inputdate(ar2(n-(Period-1))-8),inputlow(ar2(n-(Period-1))-8))

Thursday, April 26, 2007

Genentech (DNA) has its back up against the wall

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kswing code

TDST Sell Line