As the market has been beaten down over the last few days, several microcaps have been (and still are) flying high.
These pharmaceutical stocks have been making new highs and show little sign of slowing down. The best prescription if you want a piece of this action is to wait and watch for a slight retracement. Jumping in now may cost you some time and money in the short run. Sitting on your hands and letting these contrarians build a little cause for the next move up will pay dividends. We’re just letting you know ahead of time so you can make room on your radar screen.
NPS Pharmaceuticals (Stock Symbol: NPSP) is currently trading at $8.69.
Pharmacyclic Inc (Stock Symbol: PCYC) is trading at $2.65.
Synta Pharmaceuticals (Stock Symbol: SNTA) is trading at $9.51.
All of these fit the criteria of a microcap with market cap under $500M and a share price of less than $10. If Quazimoto’s timing software is working properly, these stocks are reaching the end of their current upswing and are due for a pullback. If volume declines on the downside, the probability for a profitable trade will present itself.
Patience is a virtue…and often in short supply.
Reminds me of dear old great, great, great Grandpa Prescott’s order at the battle of Bunker Hill…
“Don’t fire until you see the whites of their eyes.”