Ariad Pharmaceuticals Inc fka ARIA

[IIIverson]

THE BUY SIGNAL WE SHOULD LOOK FOR... would be a significant GAP DOWN into the $15s range, which should immediately start getting bought up with very heavy daily volume. The GAP DOWN would signify that shorts have made their money and will take profits (short covering). The rally that would follow will be great volume, mix of short covering and large buyers taking opportunity to load a very oversold stock, preparing for earnings.

The MONTHLY CHART, has support right around $17.00 and that level should hold. Anything under (as we have just seen) will be bought back up quickly. However, the bears are not done yet...IMO.

WARNING: III dont always make crazy predictions, but when III do I have been drinking Dos Equis