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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM) -- Ignore unavailable to you. Want to Upgrade?


To: John O'Neill who wrote (126)3/19/1998 11:54:00 PM
From: Richard Haugland  Read Replies (3) | Respond to of 3044
 
Maybe this is a good trading vehicle.....

I have been in MLNM four times at about 19 to 19 1/4 and out at about 19 3/4 this week. Two of these took only a few minutes Wednesday when it briefly hit 19 then jumped 19 3/4 to and only one took over a day. Very dependable stock with good support at 19 these days. Of course, if the market starts down it could go back to 18 or so and I could be down and holding. I still have a core holding of a few k share that I don't trade.

I have done similarly with VRTX recently between 34 and 35 but today ended up with some holdings bought at 34 1/8 when it dropped to ~33 1/2 at the close. Still it may well recover tomorrow and seems to have support at 34-36.

Another good drug stock these days that IS making money already is BCHE. I have day traded that too for a couple of weeks but got bought out yesterday on the stock I bought the day before during the rise after it announced some good news. Just missed getting back in today. IMHO, BCHE has a lot of promise for real earnings rather than just future promise and I may buy and hold some of this soon.

I usually try to get about +1/2 to +1 on 1 k shares. It adds up but I sometimes miss sudden big jumps when I am out or get caught in a downdraft.