(2013-07-18, 04:00 AM)gbarbs Wrote: i have several in this sector. acor, amag, itmn, thrx, cbst. just posted ino on the trader thread the other day, but wasn't sure about the entry point and didn't buy. it then took off so a good sign i guess for the group. idix is looking to form stage 1 base and is further behind than the others - maybe a chance to catch one on the breakout soon?

(2013-07-18, 04:00 AM)gbarbs Wrote:

(2013-07-18, 03:06 AM)anupam384 Wrote: ASTX: I know its been quite sometime since ASTX broke out. It also pulled back. I got in at 5.20. I think it still has room to run.

anupam - i like the sector a lot, and the chart. it has nice wide swings in the base - had a significant advance before the BO, and the RS pulled away from zero. those i recall are ingredients for big winners. i have several in this sector. acor, amag, itmn, thrx, cbst. just posted ino on the trader thread the other day, but wasn't sure about the entry point and didn't buy. it then took off so a good sign i guess for the group. idix is looking to form stage 1 base and is further behind than the others - maybe a chance to catch one on the breakout soon?

the only negative comment i can make is i am not sure about your entry. what are you using as your sell stop? looking at the daily, i could see using maybe 4.99?? but looking at the weekly i am not seeing nearby support. good luck and thank you for the post. i missed this one and added to my watchlist.

(2013-07-18, 09:46 AM)isatrader Wrote:

(2013-07-18, 03:06 AM)anupam384 Wrote: ASTX: I know its been quite sometime since ASTX broke out. It also pulled back. I got in at 5.20. I think it still has room to run.

Hi anupam384,

I've attached the weekly and daily charts for ASTX and some long term point and figure charts, and have marked the Stage 2A breakout point, which imo occurred in June 2012 as it broke out and the 30 week MA also turned higher, which it didn't in January that year when the price spiked sharply higher, and hence why that wasn't a Stage 2 move, and would have still be considered Stage 1 at the time.

ASTX is currently in a fairly strong Stage 2 phase and has outperformed the S&P 500 since it broke out into Stage 2A last year. So you're entry at 5.20 would be considered a pullback entry within Stage 2, and normally would be used for additional buying, as ideally for the investor method the initial entry should be half at the Stage 2A breakout level (June 2012) and half on the first significant pullback and stabilisation (late November 2012) - which in ASTX's case would have got you in around the 2 to 3 range.

Stop loss positioning for the investor method should go below the last significant weekly swing low and the 30 week MA. So for this that would be below 3.90 - however, if you'd actually entered at the Stage 2A breakout point and had been raising your stop as suggested in the book it would be a bit lower as you don't raise you stop until the price gets near to the previous swing high, which it hasn't reached yet.

So I just wanted to make that clear for any new members reading this and say good luck to anupam384 with the trade.

(2013-07-18, 11:24 AM)isatrader Wrote:

(2013-07-18, 04:00 AM)gbarbs Wrote: i have several in this sector. acor, amag, itmn, thrx, cbst. just posted ino on the trader thread the other day, but wasn't sure about the entry point and didn't buy. it then took off so a good sign i guess for the group. idix is looking to form stage 1 base and is further behind than the others - maybe a chance to catch one on the breakout soon?

IDIX is potentially building a longer term Stage 1 base that I'd mark out as back to the October low last year, as it hasn't managed to close below that since, or above the initial swing high it made following that low. However it's still making lower lows, and the 30 week MA is once again declining, so the recent spike to the top of the range moved it from Stage 4 into early Stage 1A, but the sharp -30% gap down to the bottom of the range again and a lower low mean that the technical pattern isn't great so I'd personally add a minus symbol to the Stage to make it Stage 1A-

So it is one for the investor watchlist as it could be forming a big base which are the best for the investor method, but also watch for a Stage 4 continuation move lower, as Stage 1A patterns often break down into a continuation move lower as it's still very early in the Stage 1 phase (only a few months) and hence needs much more time imo.

(2013-07-20, 12:37 AM)anupam384 Wrote: What do you think about MNKD. It broke out in June on high volume and has pulled back since. I know there is some previous overhead resistance but that is like 2.5 years old. What are your thoughts on it

(2013-07-20, 02:11 AM)isatrader Wrote:

(2013-07-20, 12:37 AM)anupam384 Wrote: What do you think about MNKD. It broke out in June on high volume and has pulled back since. I know there is some previous overhead resistance but that is like 2.5 years old. What are your thoughts on it

The Stage 2 breakout was in March around the 3 level, and so it has already had a 150%+ since then. It's in Stage 2 currently, but needs to clear the recent swing high to make a new Stage 2 continuation move.