Jim's cycle trades

[Jim Smith]

I am ready for my labotomy cuz PSYS looks just too sweet.

[spikefader]

Spike....

VPHM, calculate the % change from this day in 2005 to May 1 of 2005....It's like a 43% decline and apply that % decline to what I think will be the closing price of 19.50....look at a one year daily chart and tell me what you see.....Hint, chart gap at $11.15

I'm not sure I follow. Is your logic because there is previous decline of 43% somewhere in price history that it's reasonable to assume the identical % decline will occur at some point in the future? If so, what's the trigger?

[Jim Smith]

yes spike that's exactly right....VPHM tested the broken trendline yesterday at $20.50, that's the stop loss.

[spikefader]

yes spike that's exactly right....VPHM tested the broken trendline yesterday at $20.50, that's the stop loss.

Gotcha. Looks like you're strict with downside risk while targeting long; a great thing to do. And if it works dude what more does one need Does the pattern have to match or something for you to seriously consider it, or is it fib timebased or sumfin?

[Jim Smith]

The pattern has to match in terms of TIME.....time is the most important thing to me.

[Jim Smith]

When the Dow jones tries to snuggle up against it's old highs....It's going to be the drug stocks in the group that will do the heavy lifting, IMO...

JNJ....long looking for $63

[Jim Smith]

Wild Oats (OATS) will intersect WFMI at what price?

[Jim Smith]

NVAX....breaking out of a symmetrical triangle.....also bouncing off the 200 week moving average.

[DSteckler]

NVAX looks nice, Smitty.

[Jim Smith]

PWAV....long....I've got a feeling they're getting a ton of business from India and China

[Jim Smith]

NTES...long

[Jim Smith]

liking the drug stocks.....Long MRK, JNJ and TEVA

SHorting chip stocks and currently short BRCM

[Jim Smith]

MRK wins federal Vioxx trial......I think a lot of smart money was bet on MRK Friday.....I expect MRK to make the move to $40 then $42.50, the 200 week moving average....Other drug stocks may move up in sympathy....long JNJ, MRK and TEVA.

[mrmarket]

I took 80 MG of Zocor for 2 years. It fried my brain and ruined my back...almost made me a cripple.

[DSteckler]

Ernie, stop eating so much meats and cheeses and you won't need Zocor!