With the wedge, I don't like that it's down that far in the
wedge; when they go that far, they seem to fail more
frequently. Also, still no divergence.
I shorted at $4.80, so maybe time to take another 1/4 off the
table in case market continues up and the wedge plays. I'll
wait to see if the 14 Stochastics clear 50, or get rejected
again. Good luck.
Posted by cemerman on 10th of Jul 2010 at 01:58 pm
Of course with a biopharmaceutical it is very dependent on it's
drug development milestones. It jumped up in the spring on news of
their colorectal registration trial of perifosine and then on news
that they were accepted for abstract presentation as ASCO. It has
drifted down since then. It might be a good long term play but
these companies can drift for months until they complete trials,
present abstracts, or get FDA review.
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Interesting - I show a h&s that measures to < $2...
KERX trade idea
Posted by rjdst on 10th of Jul 2010 at 09:22 am
With the wedge, I don't like that it's down that far in the wedge; when they go that far, they seem to fail more frequently. Also, still no divergence.
I shorted at $4.80, so maybe time to take another 1/4 off the table in case market continues up and the wedge plays. I'll wait to see if the 14 Stochastics clear 50, or get rejected again. Good luck.
Of course with a biopharmaceutical
Posted by cemerman on 10th of Jul 2010 at 01:58 pm
Of course with a biopharmaceutical it is very dependent on it's drug development milestones. It jumped up in the spring on news of their colorectal registration trial of perifosine and then on news that they were accepted for abstract presentation as ASCO. It has drifted down since then. It might be a good long term play but these companies can drift for months until they complete trials, present abstracts, or get FDA review.