BCRX - is it overdone?

[mystiky]

Would love to hear from all technicians about BCRX.

It's one crazy stock, and by my calculations it should soon start heading down (lots of selling pressure during the last few hours on Monday).

I am seeing support at 16, and then around 15.40 and 14.70.

Would love to hear from the pro's. This stock is just a great momentum player with the "Bird Flu" craze. But that's the key word.

THANKS!

[New-born baby]

Overdone?

Would love to hear from all technicians about BCRX.

It's one crazy stock, and by my calculations it should soon start heading down (lots of selling pressure during the last few hours on Monday).

I am seeing support at 16, and then around 15.40 and 14.70.

Would love to hear from the pro's. This stock is just a great momentum player with the "Bird Flu" craze. But that's the key word.

THANKS!

Not an expert, but here's my view:
BCRX is a rocket. The chart gives no entry--in my view, forget looking for a pullback. Buy some, put a stop under it, and ride. Use only risk capitol, because who knows where she is going next? I will say that the incredible volume, along with the incredible volume by price support from $12.50 up to current price levels, means that this baby isn't pulling back too far before a herd of investors come to the rescue to buy any pullback. The stock is simply running.

In my view, God is giving America judgment at this very time. Hurricanes. Two wars at once. Flooding. High energy prices. Inflation. Loss of industry. And possibly, the bird flu. If that flu is as potent as the 1918 flu epidemic in the USA (and the world), . . . . 50 million died worldwide that year; 1.5 million in the USA alone. We lost 189,000 on the battlefields of WWI, and about 10 times that amount at home to the flu.

If the bird flu does surface as predicted, BCRX rockets much higher. If not, she busts. Simple as that.



Here's the weekly:

[dmk112]

Mystiky, I think you wanted to short this stock last week. I hope you didn't...see what I mean?

[mystiky]

actually, I did short some BCRX

but only today....

i feel it will revist the 15's before heading higher. There is no way that I go long on such stocks. So far I am okay...

[New-born baby]

check the charts

but only today....

i feel it will revist the 15's before heading higher. There is no way that I go long on such stocks. So far I am okay...

You might want to check the charts on AMLN. I think it went up 12 straight days--when it went from $10-$24 in twelve days--before it pulled back to the $17 level. Then it moved up to $38. That's an example of a rocket that took a while to cool off. Wouldn't want to short it at even the $15 level.

[spikefader]

BCRX: My channel turn up system gave a buy Friday's close or today's pivot signal. It would have a stop to even after today's action, so it's left the station for me now. It will set up again soon; just a matter of being patient.

[Peter Hansen]

Spike The Train has left the station

I am not a great chart reader , but I feel that the BCRX express train has left the station......and chasing a speeding train could be dangerous.....I would wait for a pullback!

[mystiky]

BCRX looking weaker

it seems based on todays performance, BCRX has created a double-top at around 18.20 - 18.40 level and has started to give back. Volume today was the 4th highest ever, and it sold off continuosly into the close.

I am looking at 16 and then 15.70 as the next support lines...

still holding my short from high 17's

comments anyone?

[mystiky]

my BCRX covered

just did it at 15.52

from 17.96 avg

wish all my trades were like that!

[New-born baby]

Big Congrats!

just did it at 15.52

from 17.96 avg

wish all my trades were like that!

Congratulations!!! Nice work!