Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[Thales622]

This was a classic cup and handle pattern. I pyramided my position on the breakout using a buy stop limit order, added another 50% (like I said in a previous post). This pattern is one most favoured by William O'Neil, and it does work more often than not.

You've got a couple factors going into this:

- If you look at the debt flows you can see a lot of non financial debt is being put to work in the market. This boosts equities generally
- Debt ceiling bs was somewhat resolved
- Huge cup and handle, so there must have been loads of orders just at the breakout level

Hard to say exactly what will happen next but my best guess is range bound for a few weeks.

I'll probably keep my core that I bought a few months back and trade out of my latest addition using this rule:

http://www.virtueofselfishinvesting.com/faqs/answer/Please-discuss-your-selling-strategy-Seven-Week-Rule-which-captures-gains-in-a-stock-without-giving-back-too-much-profit