Lots of chart nonsense being spewed elsewhere. Nor
Post# of 72446
Posted On: 09/03/2015 9:20:47 AM
Re: NotRichYet2 #13436
Lots of chart nonsense being spewed elsewhere. Normally technical traders don't want to buy stocks when the 50-day is below the 200-day because it's a sign of weakness. But it is extremely difficult to trade biotechs on technicals because they are news-driven. In our case, the concerted, well-funded, well-organized short attack* has made any chart-reading attempt involving moving averages totally useless. Small biotechs typically flat-line or melt a bit while there's nothing going on, and sometimes rise in anticipation of news.
But to answer your question, a technical trader would wait until they see the stock gaining strength, and then buy. That's the opposite of the kind of outlook that the strong hands here have. We're looking to get in early and catch the bulk of the run. That requires patience.
My goal is to be in on the ground floor for a JAZZ-type move, 20 cents to 180 dollars. CTIX can do that.
*baby bears, don't congratulate yourselves. YOU didn't drive CTIX down, it was the organized cabal of grown-ups who committed this illegal and disgusting act.
But to answer your question, a technical trader would wait until they see the stock gaining strength, and then buy. That's the opposite of the kind of outlook that the strong hands here have. We're looking to get in early and catch the bulk of the run. That requires patience.
My goal is to be in on the ground floor for a JAZZ-type move, 20 cents to 180 dollars. CTIX can do that.
*baby bears, don't congratulate yourselves. YOU didn't drive CTIX down, it was the organized cabal of grown-ups who committed this illegal and disgusting act.
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