Stock-DNDN-Dendreon- Best Day Trading Stock

Stock Symbol - DNDN - DendreonUpdated 4/26/09
Due to the recent price increase after our initial recommendation, we are posting an update to our DNDN selection. The new DNDN trading range is buy at $20 and under and take profit at $22. Expect a seesaw trading day for DNDN on Monday as Provenge data is released on the 28th! Everyone is expecting the data to be good to if there’s any disappointment, expect to see the stock plunge. There’s that small possibility that the company may announce a partnership on the 28th also but that’s a slim possibility. Also keep in mind that this news event may be an opportunity for Dendreon to announce a secondary stock offering to stock their coffers with additional research money. If you’re not a gambler, it’s best to sit on the side lines until the data is released on the 28th. If there’s any spike up, consider shorting the shares as major share holders will be selling into the news. Good luck.
======Updated 4/27/09======

For the week of April 6th though the end of April, we are adding Dendreon to our best day trading stock list.  Dendreon is a paradise stock for Day Traders.  If you followed the stock on Monday April 6th, you will have noticed a 9% increase in the share price.  There’s rumors of Dendreon having great late stage study results to present on April 28th at the American Urological Association.  Since news of the initial presentation listing, Dendreon stock has increased 38%.  After a big share price incrase to over $7, Dendreon stock price has come down a bit to close at $6.58.  We expect the stock to trade in the range of $6.25 to $7.5 for the next couple of days.  Increase and decrease your range as new floors / tops are set.  We are recommending that you buy the stock at anything below $6.25 and take quick profits if it goes above $7.  As the date gets closer towards April 28th, expect the stock price to move past the $8 price.  Shorts will try their best to keep this stock down, and the tug of war in stock share price will make this a great day trading stock, in our opinion one of the best day trading stock for the month of April.  When you have a short position, make sure you set a 10% limit and buy the stock back if it jumps.  Do not get into a short position without setting a limit sell.  If the market continues to fall further and Dendreon stock price falls with the overall market, consider buying some call options. Also note that the stock market is closed on Friday. Most traders will be taking off early so expect Thursday to be a low volume day. Dendreon stock price can be exposed to a short attack on Thursday. Buy on any major dip and expect to see the stock price move upwards on the week of April 13th. As always we wish you the best in your stock day trading day.