Posted On: 12/16/2013 12:25:21 AM
Post# of 2561
CYTR Daily Chart ~ Sometimes a Great Trade Could Have Been Greater, lol
Those of us that sold CYTR for a good trade of near 100%, got to watch the stock trade even higher, from 4.10 to as high at 6.79 just two days later. A couple of my friends are beating themselves up for exiting too early. Never get into the practice of getting upset when you make a profitable trade, especially a 100% gain in a matter of just a couple of weeks. We'll have other opportunities although CYTR was not the typical Big Board trade in that short of a timeframe. Although, the biotech/pharmaceuticals stocks trading in the $.50 to $5.00 range are my favorites for swing trades. As to CYTR, the chart is very overbought for my liking. But I'll continue to watch for a possible re-entry point should the technicals suggest a buy. The news that caused a break of the horizontal resistance line at 2.70 was very good news for the company. So further upside it probably going to occur. But I learned a long time ago not to chance stocks when they are 100% outside the upper bollie. It's a setup which almost always ends in an immediate loss for me. GLTA
Those of us that sold CYTR for a good trade of near 100%, got to watch the stock trade even higher, from 4.10 to as high at 6.79 just two days later. A couple of my friends are beating themselves up for exiting too early. Never get into the practice of getting upset when you make a profitable trade, especially a 100% gain in a matter of just a couple of weeks. We'll have other opportunities although CYTR was not the typical Big Board trade in that short of a timeframe. Although, the biotech/pharmaceuticals stocks trading in the $.50 to $5.00 range are my favorites for swing trades. As to CYTR, the chart is very overbought for my liking. But I'll continue to watch for a possible re-entry point should the technicals suggest a buy. The news that caused a break of the horizontal resistance line at 2.70 was very good news for the company. So further upside it probably going to occur. But I learned a long time ago not to chance stocks when they are 100% outside the upper bollie. It's a setup which almost always ends in an immediate loss for me. GLTA
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