*OT* Trading BS, notes about the genomics
sector picking up.
I'd really like to see the sector light up
on a day where the market in general
was soggy. With the market making new
highs it's a little hard to swallow that
biotech is finally now going to start
moving...but I hope you're right. With
the nice run of late, I would not be
surprised to see this retrace to 3 1/2
but I'm not really into the TA stuff,
just noticed that the volume eased off
after Tuesday...so not getting too excited.
Seems like every time I think something is
breaking out of a bottom, it ends up giving
back half of the first move. Let's just
say I never count chickens til I sell em.
In the short term (the next few trading
sessions) here were the items I should
think might be tradable/seem to have
some volume and moving of late:
AFFX moved from 57 on Thursday to as high
as 70 on Friday...Curagen CRGN did twice the
average volume and moved up ten percent Friday,
trading in Human Genome and Incyte was up,
with modest gains...MLNM enjoyed a very nice day
Friday (I've heard several times how this really
should be a core holding in a biotech portfolio,
and the more I learn about Millennium the more
I am convinced that is true) MYGN popped up near
the end of the day, one to watch on Monday, and
NGEN showed a spike in volume toward the end,
although it did not move much for the day...also
TGEN, not a genomics company, but on my watch list,
that was up Friday on no news.
Overall, I'm encouraged that folks are taking interest
in biotech finally, but mainly from day to day I
continue to be disgusted about the amount of hype
still in the internet stocks. Everybody knows that
most of these internuts are going to fail in time,
I think I saw a fellow (or maybe I read something in
the Economist) that said the real internet stories
are going to come from WalMart and others, when they
fully execute their internet strategy. There are
going to be a lot of broken hearts when the first
wave of internets melts down, and then the real
internet businesses appear, consolidate all the
wreckage, and turn out to be the real players.
I continue to hope that the inevitable correction
in the internets wont damage everybody, but I'm afraid
we will all get hurt to some degree. Just a stupid
guess, but I'd figure next fall there will be some
sort of a panic out of the markets--since biotech
has already had the crap kicked out of it, I hope
to see my stuff hold up okay.
Just a final comment...regarding your two posts to
Tokyo Joe's--this is just a suggestion...but I would
save those spamlike posts for only the best plays.
I mean, when you know you have a rocket in your
hand, by all means, get your shares and hit a few
of the daytrading threads. With no news in Hyseq,
I really don't think it is spam worthy--undervalued
and a reasonable investment, by all means, but I
think you are just setting yourself up to be disappointed
on Monday. Ideally, you want to see a news item just
before the close, those are sweet.
We had a governor in my state back in the 70s...
she used to say "Save it for the best", that was
durin the gas crunch, but I liked it and invoke it now. |
