Here’s a chart of St. Jude for Franko who asked:
How about revisiting STJ? Do you think it has sold off enough to start buying? I think it is still in a long term up trend.
I agree that the long term trend is still up, if just barely. The stock is testing it 200-day moving average, which I like to use as a long term trendline. One could certainly try buying it here with a stop just below the 200 DMA. It *should* find support in this area, since some institutions like to use the 200 DMA as a buying area. If it doesn’t find support you’ll know you’re wrong real quick and can take a small loss.
Personally, I don’t like that intermediate term downtrend. I’d rather wait for it to bounce off of the 200 DMA (let somebody else do the knife catching) and buy it when & if it breaks out of the channel.
Here’s the chart:
I agree with your ultimate conclusion. In my opinion, the only two things you should be thinking about doing with STJ right now is shorting or staying on the sidelines.
Have you used Pitbull investor system? What is your opinion about it? I am intereted to use it for short term Option trading.
RJ, I’ve never heard of it