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Biotech / Medical : HMSC- A simple breast cancer screening device
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To: Dante Sinferno who wrote (137)3/31/1998 10:58:00 AM
From: Jason Loren Bauer  Read Replies (1) of 246
 
I've traded this stock in the past and, as we all know, it can move up quickly or down quickly in a short time span. I was wondering if anyone else thinks this is a good time to establish another long position.

I don't think the stock will trade under 7 in the short term for a couple of reasons.

1- It is vastly oversold. The stochastics on this stock are relatively nill. They are also very close, meaning a 1 point upward movement in share price could provide a lot of strength. The oversold condition represented by the stochastics is becoming more and more supported daily.

2- The last time we were in this price range, the stock dipped below 7 for only a few minutes and then snapped back up and actually finished the day around 8.

We all know this stock can turn on a dime, it has many times in the past. The stock has been trading in the 7-8 price range for a few days now. It could be back at 9 before you blink, the trick for me is not tying up the cash for longer than I have to. Who knows, maybe it will trade in this range for another week or two. We'll see.

HMSC is a great trader's stock and I've profited on it very well in the past. I'm just wondering if any of the other traders of this stock feel if now is a good time to establish another position.
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