I'm wanting about 100 shares of VRTX @ market ($25.41 for now), but it's had a meteoric gain over the past two days and I wonder to myself if it's still going to gain just a bit more over the next two days on cheery news about it's Hep-C drug trials. Fool had a powerful article on it and there's lots of other chatter, but it may very well be at the very peak of its gain for now.
The real question: is it overbought and will it correct abruptly tomorrow? Or will it continue its breakout and settle down a bit later?
I'm hoping for the latter and I think it'll level or dip just a little if nothing else; I don't see it collapsing all at once or anything, so if it's another low-loss RedHat to hedge what I think is a decent shot, then I'm willing to take that. I can add a stop @ 22 or something, but we'll see if that's necessary.
Preemptive lesson: stop buying at the peak of a breakout momentum play on old news.
Also, RedHat jumped 8% today. Shucks. The other question: market or pre-market? Probably sleeping in and letting it ride. Let's see what happens.
Showing posts with label VRTX. Show all posts
Showing posts with label VRTX. Show all posts
Wednesday, April 2, 2008
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