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11/12/2014 – Salix Pharmaceuticals Ltd.

  • November 12, 2014
  • Salix Pharmaceuticals Ltd.

Issued: 10/31/2014

Salix pharmaceuticals, SLXP:

1. In Thursday’s (Oct. 30) Williams edge stock meeting it was noted that Salix pharmaceuticals was a ‘Buy’ at or above $141 for an expected test/attempt at $148 (or higher) into the week of Nov. 3.

2. Today’s Salak’s session made a swing high of $147.51, within $.49 of the forecast $148 upside target. It is anticipated an initial profit exit was taken at/near $148. If not, an initial profit should be taken at current prices.

3. Any remaining long position should be held for the possibility of higher prices to be messaged in a subsequent update.

4. A protective sell stop should be placed at $142.35. This stop will be moved higher as the market continues to confirm.

David Williams

Issued: 11/12/2014

Salix pharmaceuticals, SLXP:

1. Salix pharmaceuticals advanced off our Oct. 31 buying territory at $141.00 for an expected test/attempt at $148.00 (or higher) into the week of Nov. 3.

2. On Oct. 31 Salix attempted the $148.00 upside target with a session high of $147.51. Shortly after that our initial long position profit exit was indicated.

3. The market subsequently declined and hit our protective sell stop at $142.35 (above the $141.00 long entry level) resulting in a successful trade.

4. By reviewing a daily chart of Salix it is obvious why the market could not complete the $148.00 upside target. Just days after the $148.00 upside attempt Salix sustained a wide-open break of approximately 40% (!) off the $147.51 Oct. 31 session high.

5. The failure to complete $148.00 was not random but the result of extreme selling pressure working against the advance to $148.00. Once the ‘up cycle’ that prompted our trade was over, the extreme selling pressure took the market down 40% in a single day on Nov. 7. Will message any further entry or indication.

David Williams

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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