[goodtyneguy]

Thanks theory, goodtyneguy and isatrader. There is no doubt that I am learning from the best but I think I just got lucky on this one. May be beginner's luck

How long do you guys plan to hold on to IDRA. This bio company will release their phase II results in first half of next year and could be worth north of $35 (being conservative) in few years. I can post the numbers if you guys would like to see.

Thanks for the compliment anupam384, perhaps a bit overdone in my case though

With regard to how long I will be holding. I have to say in true Weinstein style I have n't looked at what's behind the stock as far as news and fundamentals are concerned. It's hard not to get interested, it's only natural but I think it is best to let the chart be the final arbiter of when to sell. As Weinstein alluded too in SFPIBABM often the big money insiders know what's going on long before it hits the news wires. I have my full faith in that and following the method. Recent case in point is MAKO, which I mentioned had about fifteen time average daily volume in the trader thread on 31st July (and you discussed with isatrader in August). As we know now, a deal must have been in the making between then and Sept 25th when it was announced that Stryker were to buy them out for what was nearly twice the price they were trading for before the announcement.

   

P.S. excuse the mistake on the chart, my dollars turned to pounds on the gap up also. Wish I could do that in real life!

I have made one exception to the method with it being a low priced speculative pharma stock. I think it's important to protect at least some profit and for that reason I have brought my stop up early on half the position to 10 cents under the low of the gap up day. Gaps often act as support and resistance. I entered it as a trader play but will probably take half off when I see a reversal candlestick pattern on the daily and then will be able to let the other half run as an investor position and if I get stopped out on the gap stop then I will probably do the same.

Having said all that I have n't asked if you are in the Pharma business or some related field? In which case I'm all ears

One other thing that I should mention is that we have to thank the main man, isatrader for his dedication in providing us with his daily breakout point and figure scans and the charts he posts up from them of the stocks meeting the methods criteria! I find the one in the elite members section of the whole US markets a boon to finding the best opportunities, if I recall correctly both the stocks above came up on the scans!

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I took small position in the shipping stock GLBS near the close on Friday just gone on the secondary pull back entry where it has been getting daily support.

It's far from an A+ opportunity as the volume on the BO does not quite meet the requirements and according to the Ichymoku cloud it still has a little work to do to clear resistance. I entered this one as an accumulator in stage one rather than expecting to see it immediately evolve into a stage 2 mainly because of it's 10.87% dividend yield. I don't mind waiting if I'm getting paid and can look forward to higher pay outs.... if all goes to plan of course.

   

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