Question: Do any of you use trading disciplines in your biotechs?
I'm just looking at CNDO ... I thought it was breaking out just last week, but I was in it mostly for a trade, so when it started breaking down (and, I was going to be out of town), I sold it! It's hard to apply the same disciplines in biotech, but how much of a loss are you willing to accept when you own one? Also took small loss on my PSDV trading shares ... Amazing when the tide turns, isn't it?
I feel somewhat more secure with my ACRX core because I got in early enough, but ... some of these are getting beaten like a red-headed stepchild!
If no news really causing stock to fall thn i'll just hold tight like here in ACRX, have full confidence that in time will see above 12 again. If I'm in a stock like ARIA(Thank god I wasn't) i'd wait for initial bottom bounce and get back what I could as there was actual news causing stock collapse
CNDO has been high on my watch list but, I can't explain today's trading. Sometimes a fund needs to sell out (it happened to ACRX when it dropped to the 4's). Right now I am in PSDV to hold thru Oct 17th but, CNDO was for the future. Breakouts can go either direction. If I remember they had good insider buy/hold, good cash, strong clinical trial experience with promising market position and acceptance. But I am not informed enough to say they have close or near the fundamentals that are in ACRX.
I have traded CNDO multple times and have made money every time. This was abnormal behavior. But when you sense it is moving one way get out or get in. It usually keeps rolling that way. 6 wins no losses on CNDO. Interesting how NBY has held even. Good luck out there I hate to see a bad day in the markets, what will biotech do then?