I love stocks that are in tune with technical analysis very well. TSRX is still currently trending down at the end of today. Support is around $7.50 however I don't believe we will get there unless the overall market just has a large correction of some sort.
I did not short TSRX today as there was no intraday signal like yesterday. Very choppy trading in general. I did however go short on $MNKD at $5.30 today. Wow what a pump job that stock is.
Solve the puzzle for a look at the chart for TSRX.
XXXX = d0tc0m
Still holding 2K shares long. Looking to add back at time of trend reversal.
Thank you so much for sharing your strategies and knowledge with us. It's incredible the things you do. It's almost unbelievable that someone could be so talented.
Unlike your secret admirer kingcrash, I beg to differ with your "TSRX in tune with tech`` synopsis. The recent 10 day $1.37 rally that TSRX has experienced occurred during extremely bearish technical indicators. Several extremely bearish calls were made followed by a run the next day lasting several days in a row. LT TSRX has gained $3.23 since it`s trend line reversed to the upside starting Dec. 10, 2012. The LT trend line is still going up. So if you want to share technical observations at least be honest in your evaluation time frames. Making a quick $300 ST trade and missing the LT rising 75% gain is a fools game subject to 100% taxable gains. Where SP increases dramatically within a short span in a pump & dump, I agree with your scalping strategy, but in TSRX`s case where SP has been held down for years.... we have yet to take out $8.72 to get to the July 25, 2011 all time high...we have more to go. Still believe we are greatly underpriced. TSRX has had best in it`s class +ve phase lll secondary results, new patents ensuring it`s LT combo therapy with Cubicin and several major potential catalysts via partnerships, the GAIN act, fast track and pipeline development. None of this info is taken into account in purely technical trading. There is plenty of room left to the upside. With investment $`s rushing into the US equity market, low risk high return speculative stocks will gain traction. Takeout $8.74 this week, is my call.( no technicals but plain ol beaver intuition instead). After taking out $10-$12 we can start with the toppy discussion.
Beav! My amigo.
It seems like you have an emotional attachment to the stock. I'm just telling what I see. My father and I play a game where I send him the chart without the price and stock ticker. Just the technical analysis and judge what we believe that particular chart is telling us. Many times, (myself included) investors can get caught up with an emotional attachment to the stock and don't see what is right in front of them. It's called confirmation bias.
This is a long term hold. This is a gem! No doubt. My strategy is different than most.
FYI, I trade alot in my IRA which is non-taxable for short term gains. So I do my best to time the tops and bottoms. I am still yet to get credit for calling the "Sell" on the day data was released and the buy in at $6.52 before this beauty run-up when I called the cup and handle. No matter. I'm not here to crow. Just here to help others looking to find a better entry.
In my opinion, Trading is a marathon, not a race. I am not concerned if I miss the "Big One" or huge pop. I have a 76% return on my portfolio for the first 4 months of the year (mostly SNTS gains as that is 1/3 of my portfolio). I'm happy!
I'm here to help! I shared the chart along with my analysis. Time frame is 30min chart and this week IMO we get a support test.
You can learn best from those that are opposite your current position. I am a scientist by trade. I look at everything as objectively as possible. I don't let emotion choose how I think. You should see the work I put into CHARTING! It's unreal!!!
In the end this is a long term hold. Kitty has the right idea. Saves a ton of time without having to fret about the up and down movements of the market. I am just addicted to pattern trading. I can't help myself....LOL It's too much fun!
I'm still long and planning to add. I still say $7.60 is the add price. If the price turns around on heavy volume with a good "pump" article at the same time I'll jump back in.
Sentiment: Strong Buy
Nice Post BEAV. I take back all the harsh stuff I said about you (well, most of it). Trading this thing for a couple Ben Franklins is not worth crowing about (like crowing about winning a roulette black/red spin). And as I said before, for a stock like this techicals won't always ring true (so much potential, it could open up one day, 2 bucks higher without a lot of fuss). Long is the way to be and we will break the 2011 high soon.
Sentiment: Strong Buy