Twitter Ticker ($JAZZ)

• Charles Amadeus
• August 11th, 2009

Jazz Pharmaceuticals is making StockTwits sing as the drug maker announces increasing sales and reduced costs, sending the shares up +15% after hours. The market continues to have a favorable attitude towards the growth in JAZZ’s sleeping disorder and OCD treatments, though the stock seems to be finding resistance around 7.59.

Trading in an uptrend above a rising upper Bollinger, JAZZ needs to retake and hold 7.59 in order to reverse the secondary downtrend that began July 29th. A break below 5.28 implies continued consolidation, a real possibility if the market continues to sell off. All long bets are off if JAZZ cannot find a bid above 3.67.

The market continues to consolidate, making little upward progress but digesting recent gains in a relatively civilized manner. I’ve been seeing more red on my screens than I’d like, but discipline is keeping me from holding real losers and I still see investment opportunities. Successful trading requires patience, so sit on your hands, turn on the tunes, and calmly await the market’s message.