Trades 1/21/10

The Dow dropped 220+ points at its low yesterday.  The drop came a day late according to my expectations, but I knew it was coming.  Most investors have the feeling that the current market should not be as high as it is.   We'll see where it takes us today.

Premarket, Asia was down and European markets seem to be gaining.  Oil is up slightly and so is premarket trading. Jobless claims have risen unexpectedly. There could very well be some downside today as well.

Current Holdings

Symbol	Security	Entry	Last	Change	Exit Plan
QTWW	Stock	1.1057	1.07	-0.0357	N/A
SOLF	Stock	8.05	7.95	-0.10	St 7.74
SSN	Stock	0.276	0.27	-0.006	N/A
SVA	Stock	7.43	7.51	0.08	N/A
UALNO	Option	0.10	0.05	-0.05	N/A

SVA was a trade idea taken from a blog I follow at chribstrades, which was one of the few positions in my porfolio which did not drop significantly in yesterday's bloodbath.

After close, this article came out with some good and bad news - Sinovac Biotech (SVA) To Offer 8.65M Shares.

Normally when a company offers more shares on the market, stock prices drop significantly due to fear that each share you own will be worth less.   I bought UAUA a few months ago in the mid $6 dollar range after the fallout / sell off. I held it into a new 52 week high.

Premarket, I cancelled the 7.09 sell stop on SVA, because of other news as to why they are raising capital - Partial article quoted:


New Vaccine Order
In January 2010, Sinovac received the fifth purchase order for its H1N1 vaccine, Panflu.1, from China's Ministry of Industry and Information Technology, or MIIT, under the national purchase plan. Under this purchase order, the Company is required to deliver an additional 8.57 million doses of Panflu.1 (15ug/0.5ml) to the Chinese central government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance 6.23 million doses are to be stockpiled by the government in Sinovac's warehouse facility. In aggregate, Sinovac has received orders of Panflu.1 from the Chinese government for a total 21.06 million doses, and 10.23 million doses of Panflu.1 have been delivered to date for the Chinese vaccination campaign. In 2009, Sinovac completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.

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