Friday, February 4, 2011

Opxt Missed the trade but not chacing


Well short term missed the big move. I was hoping OPXT would have pulled back to the 1.75 area where I was gonna start a position but others thought it was a good bet and moved it up 29% today. The one lessen I have learned  is never chase so I will let the short term trade go because I am still worry of the SPY hitting the 132.56 resistance and this market pulling back
But longer term ( the 2nd chart is a 5 year weekly chart)  I still like this stock because the longer term pattern is very bullish. I would like to see some consolidation here for a week or two, have the market at a whole pull back the 5 to 10 % that everyone is looking for then I will be all over this stock A pull back to the 2.08 will be were I will look to pick this stock up now.

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