SVA has officially broken down. I am very sorry that I covered @ $2.42.

The swine flu pretenders are falling off the chart. SVA is down to $2.25 as I write this. BCRX is following suit (down to $3.30 at this time) The days range on BCRX is $3.04 to $3.90.

Very small gain on Sinovac Biotech, but a gain nonetheless. Netted about 5% profit in less than a day. This is the third trade on SVA in the last few days with 2 of 3 turning a small profit. This is a dangerous name to tread in since it is moving on the swine flu scare and could swing wildly one way or another. To top it off, I have seen a couple of press releases from the company regarding swine flu. The first release boosted the shares by about 10% (during my short). A follow up didn’t have an impact. I would expect this to continue to fade, but it might not be worth the potential risk.

This is a bit of a dangerous play, but a fade in volume on Sinvac Biotech should provide for a nice exit point.

Did I mentioned that I hated it when I bought Sinovac Biotech?  So much so that I sold my shares for a small loss and decided it was a good short if the price (and volume) broke down.  Well, that happened.  In fact, I can see this falling to the low 2′s.  I shorted 600 shares of SVA @ $2.60 and coverred @ $2.40 today.  It is all in my trading log.  Profit of $103.95 (6.7% after trading costs).

Got out of a position that I didn’t like. Very small loss. Sold 500 SVA @ $2.97

I don’t like that I jumped on the swine flu bandwagon and picked a stock that might be a mere shell of a company (lack of research means I don’t know).

I really dislike my buy of SVA yesterday and will likely sell at the market open, take my small loss, and consider this as a short.

Horrible price, but I am looking for a small play in the Swine Flu area.

500 @ $3.00

Buyers remorse.  Let’s see if that keeps up through the day.  The list of players in this space is circulating and SVA is on it.  That should help this stock.