PBE and IBB along with BBH are the only way to play biotech without seeing your investment drop 75% overnight.
Gabe I've been hawing it my gut instinct is No. I love TopD's methodology and thinking and agree this is a summer play just not trusting the vol trends yesterday especially a 5% gain on 100,000 shares. For me I think I just wait for the first hyped up weather report about that first storm at sea of the season and buy it then at $11.00 you know what I mean.... ~ stoney
I'm watching - it touched 10.70 then just fell back to 10.23. If it closes strong with volume, I'll be adding late today. Would like to see it cross and close above the 200 day MA at 10.89.
TopD don't like the action today on IPII typical of a low volume advance. If you have my luck they'll drop a secondary on you tomorrow and you'll be back to par.... technically I would call this a reversal day.
Started the day strong then fell this afternoon (along with the rest of the market) on weak volume. I'm still waiting for a stronger volume day to add. Looking back on the previous spring run-ups, a day over 200,000 volume seems to be followed by 400,000 then 800,000 share days. That's when she really starts to rock. Actually a few days of consolidation between 10 and 11 would be fine with me. Would likely lead to just that much more of an explosive and sustained breakout. (BTY Stoney - I liked your call on ASYS I saw on another thread - not in yet, but it does look interesting).
re asys) Charles over at Kirkreport.com get's the credit TopD he brought it to my attention-I'm not in yet probably tomorrow. peace
TopD what did I say?! Nice barf to $9.70 today. I see that $9.50 calling but today's volume trends are good and it did lift off bottom. One more revisit thiks afternoon to $9.60 area and that might be enough to push me in. Thoughts.....
I doubt you'll see 9.60 this afternoon, but that does appear to be a good entry point. There is a 2,000 share bid at 9.60 right now, but it seems that every time it drops below 10, it gets shoved right back up. 9.49 is the 1/3 Fib retracement from 3/30 low to yesterday's high and would be the ideal entry, but it may not get there either. This thing trades so thin, and there are usually big bid / ask spreads. Volume is still my trigger. I just want to get some more right before the big move.