Elizabeth, With ASCO now over,maybe it is good to follow Tuck's advise: "SELL IN MAY AND GO AWAY". <G>
The general market isn't doing well this week, as stocks fell for 2nd day on a roll,apparently because of increase in labor costs made people start to worry about inflation & interest rates.
The DOW was down to 13,403 at 2:20PM, closing at 13,465 still 130 points lower than yesterday & it was the largest 2 days drop since March 13 & 14. With some bad news it could easily drop another 400 points to the 13000 level or even to the more important support at 12,500. You probably remember what it did in late February when it dropped from 12,845 on Feb 20 to 11,926 on Mar 14. (that was a "correction" of 919 points or 7.15%) If we get another 7.15% "correction" from the June 1 H of 13,756 that would be a drop of 984 points to 12,772 <g>
bigcharts.marketwatch.com
This is Tuck's advise:
Message 23022525
Although it doesn't always work in some companies.<g>
Message 23048083
Getting back to your question on INGN, the initial support is a the $4 level & resistance at $4.50 It needs to close above $5 before it could try to test the more important resistance at the $5.50 to the Apr18 H at $6.35
On March 15-Mar 21 it had a double bottom at the $3.50 level.
Yahoo gives it a 12 month "target" of $11
finance.yahoo.com
The estimated loss for 2007 is around $0.65.shr ( about $0.12 less than in 2006) & for 2008 the EL is around $0.05, but the "analysts" can change those estimates in a hurry.<g>
bigcharts.marketwatch.com
At any rate, amber lights are flashing & it is always good to remember Warren Buffett's rule number one on investing: "Avoid loosing money". And his number two rule:"Never forget rule number one".
RAGL
Bernard |
