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Biotech / Medical : PLC Systems
PLC 30.130.0%Dec 14 4:00 PM EST
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To: Charger who wrote (700)4/26/1998 5:10:00 PM
From: taLuis  Read Replies (1) of 1202
 
Trading strategies for PLC from yours truly. Take it for what its worth.

Day Trade. Assume the news will be well received and Monday is a BIG VOLUME day. Expect an open price in the $22-23 range. Buy at the open if below $23. Assume $26-27 is resistance. Sell at $26 and go short at the same time. Assume a bounce in the low $20. Cover short below $22. Wait for a bottom in the $18-20 range. Go long from this bottom and wait rest of day for a climb back to $26. Sell at $26. PLC should be good for 10+ points on Monday.

Short-term Trade. Assume you are already in the stock. Sell 1/2 position at $26 on Monday. Upon confirmation of sale from broker, immediately place a buy order at $21 (or $19 if you feel lucky) and purchase back the 1/2 position. Go long for potential climb to $30 or higher in two weeks to a month, and sell 1/2 position above $30. Stay long with the remaining 1/2 position and see what happens with FDA approval in the ensuing months. Place a stop loss two points below wherever its at in a month, and move up the stop as it climbs.

Long-term Trade. Assume you are already in the stock. Sell 1/2 at $35 or higher in two-weeks to a month, if it gets there. Buy back the 1/2 position on any retracement below $30.

Luis
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