I joined RaginCajun this morning in $BCRX when I saw price action was acting “fizzy” after open.  Not to ignore my intuition, I bought back $BCRX and continued to add as price continued to climb.

Take a look at the $BCRX daily chart below.  You can see it broke out of the symmetrical triangle today.  Price action never breaks below the 89xma and both momentum indicators are also turning up.

Take a look at the weekly chart.  Did you see the cup & handle pattern?  A breakout of the cup & handle on the weekly chart kick off a good rally here.

My 2 cents.

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I’ve been managing $BCRX since last week after getting the alert from RaginCajun.  I elected to forgo the quick profit from the gap up the next day after my entry because I sensed that this one could be a runner.  Thus, I’ve bought and sold shares of $BCRX to manage my risk so I don’t get slaughtered along the way.   I was down to 25% of original position from yesterday and now I’m back to 110% due to the positive price action this morning.

The chart below clear shows a bounce.

Time will tell if this will become a runner like I sense it is.

My 2 cents

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BioCryst Pharmaceuticals Rises 20% Pre-Market on China Approval of Peramivir Sodium Chloride Injection

Think about it, the mortality rate of people catching bird flu is high; so by approving Peramivir, China has nothing to lose but everything to gain for $BCRX.

It is a gamble I’m willing to bet; therefore, I added more at open.

What do you see in the daily $BCRX chart below?

I see a rocket ship getting warm up to launch.  No, it hasn’t been launched yet.  If $BCRX’s Peramivir proves to be effective in controlling the outbreak, you won’t see parabolic move, you will see something entirely different.  However, don’t forget the downside risk is there too if Peramivir proves to be ineffective.

I’m thrilled; this bet saves me a trip to Vegas.

My 2 cents

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