Can you say, "OVERBOUGHT"? Take a look at the RSI and MACD...both in the STRATOSPHERE. MACD crossing over as I type and has a long way to to fall back down. I know the majority here doesn;t like to look at charts like these when it comes to their EXEL holdings (they don;t like to think EXEL will pull back)...but it's just the law of GRAVITY, folks. EXEL should fall the the low $7's over the coming weeks....and possibly even kiss those rising ma's on a shakeout.
One thing is certain...EXEL is about to embark on a very OVERDUE pullback. This chart tells it all. Buckle up :)
Happy New Year to all!
TA is a wonderful thing, ain't it? Hey, where did all the resident "experts" go?
Tried to warn you folks that January would see a large pullback as the tax selling on huge gains from 2010 took effect in earnest. 50 ema coming up at $6.80. Magic.
<<Fast forward three weeks...Ernie is left scratching his head as EXEL sits 30% lower as it corrects exactly the way it was called.>>
Ernie is one of the people here who knows that price movement is not unidirectional. Now who was it that made that "exactly the way it was called" prediction? Is it the same Bushido who told us that a short at $4 and every 15% rise thereafter is "easy money?"
If you want credibility, tell us real time when you buy and when you sell. Calls and predictions with the benfit of 20/20 hindsight is not going to earn any respect.
<<Had he done that, he could have sold above $9.00 and re-loaded below $7.00. What a novel idea :)>>
If we go below $7, I will add to my position. I remain comfortable and confident that when I do sell, it will be north of $9.20.
<<Ernie will put aside his science EGO and try and understand the power of TA.>>
I have nothing against T/A traders. I do have issues with someone who keeps calling for a correction from $3.50 to $9.20 and then brags about it when it finally happens. I occasionally trade, but it is based on fundamentals. I do a great deal of research on a limited number of stocks and have put in a lot of time to understand the clinical trial process, the regulatory environment and a smattering of biology. I've posted on Yahoo mb's for 10 plus years with the same ID and what you call EGO, I prefer to think of as pride of authorship.
If TA "didn't work" then I guess it was just pure luck I called the EXACT TOP on EXEL (to the day) based on this chart:
This chart was SCREAMING overbought and EXPECT A PULLBACK. Well, it's doing just that. Only gamblers bet on a "gap up one day"...we deal in the NOW :)
>>If TA "didn't work"
To evaluate TA you have to define what constitutes success or what "work[s]".
When you define success as outperforming broad market indices over the long term, TA always fails.
FA, value with a margin of safety outperforms broad market indices over the long term.
<<If TA "didn't work" then I guess it was just pure luck I called the EXACT TOP on EXEL (to the day) based on this chart:>>
I'll give you an even better prediction that I made on Dec 14.
"It's a shame, but sooner or later Exel will pull back and you will finally be able to crow about how right you are (after only about 20 tries)."
Bush, You have been saying EXEL is overbought for almost a month now. You began this claim when it was less $6/share. Now you are saying it may go to the 7’s.....lol. Simply put, even a blind squirrel stumbles upon an acorn. Should the share price drop a bit more, an even greater bargain for the longs!