Replies to post #790 on Catalyst Pharmaceutical Partners (CPRX)

[Zorro]

Sorry to have come in on the middle of a conversation;)

Not knowing your situation, I wasn't speaking to it. My only point was that 70RSI14 is not oversold IMO. Many traders look specifically for hot RSI to play as it's a great indicator of momentum pushing the stock higher. Not a buy and hold scenario for sure, but great for some quick flips and a free starter position;)

Anyway, GLTY.

[Calikush420]

Well this is from yahoo and makes me laugh. Pretty funny when yahoo is giving better analysis than you!!!

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=mm&bn=72046&tid=2801&mid=2811&tof=6&frt=2


So from a chart/technical perspective...

Yes, there is a .05 gap between the 1.16 and 1.21 but they way this stock has been acting, i doubt it will get filled. Keep in mind that most pharma stocks do not fill in "gaps". Also consider the small float on this baby, means not too many shares out there to trade it all the way down to those levels.

By looking at the chart, cprx bounced nicely from 1.22 and 1.25 very nice and not only recently, it had done it previously. So i doubt it will even break the 1.25 level.

I personally have been accumulating this week and wishing/hoping to get a cheaper prices but it just won't drop, again, because of such a small float it will not drop that much.

Also consider the volume. The avg volume prior to july was in the 100k/day, if that....now for the past 2 weeks this one is trading at a clip of 1.4mm/day. So once again, the float...most of the float of this stock has traded above 1.25 with big chunks above the 1.35 levels.

Another classic sign of going long is "higher highs and higher lows" which this one is definetely making. Again, this entire week i watched in hopes of getting in a cheaper prices but it just didn't happen. I did purchase some just not as cheaper as i would wanted to.

And lastly, cprx has broken thru some major resistance levels and not just set this week but previously. The 1.30's was broken and now most recently the 1.46 which just crossed over and most importantly closed right on it.

With such a small float, recent volume increase and not to mention news of complaince and anything else comes this way, oh and the up coming catalyst, i think this one can easily run and take on a new yearly high.

Wishing all longs good luck with this one...it does look good for now.