Replies to post #7384 on General Stock Ideas

[gfp927z]

MarketFest, >>> PTN <<<


I've cooled on biotech again after the recent PYMX experience. Just too many chances for an instant 50% haircut with those stocks. I still have some on my radar screen, following loosely, but I'm trying to trade stocks from the normal/non-bio sectors.

I traded Pharmacyclics (PCYC) a couple times, but got out way too early. They have what Biomaven calls a 'magic molecule', and the stock has been on a steady ascent for months. I thought it was getting overbought at $40, but now it's close to $60, so I largely missed the boat on that one. But with bio all it takes is one negative development and voila, an instant 70% mega collapse.

I looked at options trading, but decided it would take too long to learn. It's a lot more complicated than my current strategy of chart patterns/TA combined with fundamental analysis. That said, I guess options is one of the few places where a quick 5 or 10 bagger is theoretically possible. But it's a lot safer going for 10-20% trading moves, so that's my current strategy.