For those who are watching, I stuck my neck out and jumped into another 1k shares of DXCM at $17.60 today. Thanks to a shellacking in the NAS today, the stock has given back some of this week’s gains. Here’s the chart I am looking at:
$17.69 represents the 38.2% retracement. In my view, that’s the best we can hope for the way this stock behaves. However, if it wants to follow a declining market lower, $16.61 would be the next stop for more. Below $16.61 I might sell it on a stop loss.
I picked up another 1,000 shares today at $17.65, bringing the total to 5k shares at $$14.08.
Comments and questions are welcome.
Any views on HDY? Still waiting!
Editor: If it happens to trade above $4 before they announce a signed deal to drill I might sell half just because it’s too good of a profit to walk away from. Hedge my bet a little. In the interim, as you say still waiting.
Any news? Bye
Editor: No- there is no news. As I stated in the original presentation- Both the market and myself are looking for the FDA approval around the end of March. The only news between then and now would related to pullbacks for accumulating the stock. Right now, about the $16.50 level would be heaven sent- however, this stock’s pullbacks tend to be shallow and short lived. Think of it this way- there are only 4 million shares publicly traded. There is demand because investors believe they are going to be awarded an FDA Approval. Since the market expects it in about 6 weeks, why would anyone sell?- only because they don’t like the way the overall market looks. That’s when we tend to have little pullbacks.