ONXX
By mucko - Posted on February 25th, 2008
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ONXX daily should be ready to turn up to 32-33 area on bounce. Currently sideways for 3 days. I am long some ONXX 35 calls March for the push, and will add some stock if I can catch the turn. Using 29.50 stop for now for the calls. Should move in next day or 2 up, if not I will reassess.
Seven down daily bars as of today (wed) since earnings. Heavy volume in the last hour of today's trading could be indicative of a reversal. Biggest caveat, the NAZ has been up for the past 3 days, and is also due for a reversal which would stiffle ONXX.