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Strategies & Market Trends : NetCurrents NTCS
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To: Ally who wrote (5316)1/10/2001 4:10:55 PM
From: Michael Watkins  Read Replies (1) of 8925
 
So BVF ends in an inside day today, sitting wedged right on the 20/50 day EMA's. The volume doesn't support a bear flag but its such a low volume animal, who knows.

Since its not a clear picture, lets look at the BTK and DRG indexes.

Perhaps if BVF trades in parallel with the BTK index tomorrow, and breaks the low of the inside bar, it might be good to be short. BVF is trading substantially better than the BTK, but maybe that's low volume related and Canadian to boot - I've always imagined that the fewer targets in Canada leads to more manipulation (or call it blind buying things up).

The BTK has run into prior support which is now resistance until further notice. We'll probably see something definitive happen on it within a day or two at most.

Looking at a few bigger cap drugs and the DRG index, I'd have to think down is the course these things will follow.
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