Blaine Tarr
04-19-2012, 07:46 PM
XOMA Corp (XOMA) a bio-tech company has had a hot chart over the past few months. Primarily driven by a large hedge fund buyer (http://www.thestreet.com/story/11466875/1/biotech-stock-mailbag-xomas-big-backers-fda-approvals-contest.html) that is known to take interests in bio-techs with great upside potential. Not that I use this information to trade, its just good to know. However, I will trade the chart, and currently it's showing it could be setting up for the next leg higher.
http://content.screencast.com/users/btbulldawgs/folders/Jing/media/9d423679-4489-4a64-9624-6993ca6dd288/XOMA%204.20.png
Disclosure: I purchased this stock today at 2.809. (The chart is wrong, it should be a 2 instead of a 1) I will be swinging this for a few days anticipating the breakout, or I will take a loss if the trends break down; about a 5% risk.
http://content.screencast.com/users/btbulldawgs/folders/Jing/media/9d423679-4489-4a64-9624-6993ca6dd288/XOMA%204.20.png
Disclosure: I purchased this stock today at 2.809. (The chart is wrong, it should be a 2 instead of a 1) I will be swinging this for a few days anticipating the breakout, or I will take a loss if the trends break down; about a 5% risk.