FWIW,
,
,
,
, .
I sold a lot of my position today (between 13.45-13.35). (Holding in cash, waiting for a pullback, and also reallocating my portfolio as I was really overweight in this name, bigtime)> I'm actually probably early based on NDA filing, '113 trial start, etc.
Simply based on technical reasons, and my overall strategy of selling I have had for months now - I believe I had stated ~$14. I still think there is no better development stage oncology company out there than Ariad.
I have been looking at the 13.74 level back in 2004 for a while now, and, without being greedy trying to get a few more cents out of it, it was good enough for me for it knocked out 13.50. I think "stocks" like to gravitate toward their old highs regardless of how far back in time they were. Stochastics on the weekly are off the charts, literally approaching 100. The monthly px shows 5 straight UP months (and that has never happened before), it's been going higher since 10.00 on declining volume. I see ARIA on a 3 month trend cycle (the chart showing lows occurring ~ every three months) and plan on re-entering a core position about first week September (where I (tea-leaves) believe the next "up cycle" will begin.
There are a few other technical reasons for my decision. Mainly however: performance. ARIA has been epic this year. With the help of the Lehman Debacle, many of us, including myself, were able to build positions giving us, literally, 1,000% gains on some of our stock. My average was <$3.00 and my whole position.
I fully intend to buyback at some point. For the time being, I want to enjoy the rest of my summer and be "off the grid" for a period of time out the Sierra Nevada's and not have to worry about WTF my largest % holding is doing.
Hopefully my EGHT can get bought out by Google, and my CRIS can get some good momentum in the meantime.
I'll be daytrading, but never shorting.
Like my business partner always said, "no one ever lost money taking a profit."
Oh, and best of luck 'til September...you'll probably get bought out now for $25/ on Monday, LOL.
