Idera Pharmaceuticals Inc (IDRA)

[TOB]

I'm currently torn between thinking:

1. Shucks, I missed that good buy opportunity.

2. We'll see that level again soon.

3. We'll see a lower low.

Well...I did pick up some IDRA at 2.26 this week and I was pleased with that. Hope that is the best I can do though and it just steadies up from here.

The sector is really leading IDRA by the nose here, with IDRA showing a similar move, in terms of the 200MA, but obviously greater range relative to shareprice as IDRA had such an exponential increase in 2013.

The IBB is right at 50MA on the Weekly Chart and the 50MA on the Daily Chart. So in the absence of another leg down, it could base or bounce here. I have no firm opinion, just a sense that we'll see more weakness.