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     holycow
Member
Username: holycow
Post Number: 1064
Registered: 08-2004Rating: N/A
Votes: 0
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| | Tuesday, April 05, 2005 - 11:36 am: |  
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I am a little flabbergasted reading so many are watching their favourite biotech stock and hoping wildly on a daily basis...
Here are a bit of observations:
1) the recent CMQ, MBP rout in the sector has created a "sour" note among many investors, so, I reckon this sector will have a long way to go before you can see your favourites start "giving back some", but this could be a long way off. Also, the general market sentiment in this sector is really poor at the moment, it's really no point trying to "sweet talk" the market into some kind of rally coz it won't happen.
At best, you'd succeed in hooking more "suckers" to join your crusade which is destined for doom, oops, I mean some bleeding edge and then a suicidal jump off the edge. So be kind to your other fellow punters, give them a break.
2) Chart wise I think most of them look awful with a BIG A, so,... so,.... well, take care coz I really won't have a clue what to do if I am in these stocks.
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HC
"... if you've got a chart, I have an opinion!"
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holycow
Member
Username: holycow
Post Number: 1068
Registered: 08-2004Rating: N/A
Votes: 0
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| | Tuesday, April 05, 2005 - 05:05 pm: |
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PSD Daily
1) I like PSD, until recently I thought it would make a double bottom and rebound from there, but it is not meant to be... now all I can see is it is in trouble with a BIG T. The bottom at 92c has now become a very strong resistance which means from now onward, the sp has to overcome that resistance to have any chance of crawling out of the hole is it in at the moment.
Base on market sentiment alone, I don't think PSD has a chance to break back up, unless there's some new and positive development in the research front. And I don't mean fluffy thing like old BS revised as if there's a new kind of science has just been discovered...
So until then, PSD will be lingering in the hole. And if you are holding this stock, well, well, well, can you see that gap back in 22/1/2004? That's a gap of about 10c, between 66c and 77c, if the sp were to crawl towards that gap and fall through it - you are gonna wear another 10c more loss on top of what you are already carrying. So give it a thought.
And good luck.
ps: If you are a FA'er and you like spec such as PSD, next time, watch for the long term moving average - that green line - when the sp falls below it, generally it means the stock is losing support, it pays to take heed, sell and get out. Like in this case, you could have got out at around 1.10-1.20 depending on how quick you are. You would still lose some but won't be this bad like holding at 88c and there's still no end to its fall. Sometimes, it "makes sense" to be a little more open minded esp. when it's your money is at stake.
HC
"... if you've got a chart, I have an opinion!"
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