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La Jolla Pharmaceutical Co. Message Board

  • archangel0128 archangel0128 Feb 19, 2004 11:40 AM Flag

    Finally... credibility issues


    Readers of a MB decide for themselves as to who is credible and who is not. Ultimately investing decisions belong to the person investing. In the past, I have provided many a price target based on my understanding of T/A, Elliot Wave, and Fibonacci ratios. I have shared as much knowledge as I had regarding both FDA procedures and Lupus. Whether or not any individual found the information useful/credible is entirely up to the reader. If you have not found it credible... ignore me. If you have... glad I could help.

    As for my price targeting- I have been pretty good, if I do say so myself. I nailed the 2.36 Point A termination. I hit the 5.21 Point B termination and traded on it. Point C is coming up. I targeted 2.60 as a low when we were trading in the 5.00 range... it hit 2.80. I missed the recent move to 4.20 by 1 cent... I thought it would go to 4.21. My low 2.00 prediction is for the termination of Point C. I actually have TWO low targets; one is more likely than the other. I will go on the record right now and say my PRIMARY bottom target is 2.06. There is a possibility that it could go down to 1.77 but my money is on the 2.06. The only thing that has surprised me is the amount of time the entire retracement from 4.31 has taken. Those of you may remember that I had stated we were in an Expanded Flat Retracement from 4.31. Well we are. That creates what looks like multiple Head and Shoulder patterns. There are 2 which mojo noticed. One is real, which we are in the midst of its fall now, IMO. The bigger one is "one that won't work out"; in other words, instead of going lower we'll go up. That larger on is the Expanded Flat.

    If this helps longs and shorts... so be it. There is such a thing as an honest short. There are only 4 things to do with stock- BUY, SELL, HOLD, SHORT. I do not short stocks; I'd rather play the large retracements and learn option trading (Calls and Puts).That tactic is not available at this time for LJPC. There are many ways to make money here. The trick is to do it with dignity; a trait that is noticeably lacking in some posters' personalities.

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