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Joined: 9/22/2005
Posts: 849
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Comments and opinions appreciated.
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Registered User
Joined: 4/17/2006
Posts: 271
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Hi, BC. INSM came up on several of my bullish scans. It's up against 100 SMA (1.18). If it opens down, I wonder if it may fall to 1.05 - 1.10 or so, which is where (in my newbie-opinion) I might consider buying. However, if it opens up, target might be @ 1.29 (200 SMA and also 12 Fib Resistance Clusters), which is where (again, in my newbie-opinion) it might be a good short; then buy to cover and go long @ 1.05-1.10. Critique away re this newbie-opinion (NO); lots to learn.
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Registered User
Joined: 9/22/2005
Posts: 849
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Thanks, Shark.
It closed above the top of a symmetrical triangle on Friday.
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Joined: 2/18/2007
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Hi there, I see a nasty down-trend with lots of resistance. The volume has been good in the last session and the stock shows higher lows. But the 150d EMA is still down and the top in late November presents a lot of resistance.
This is not a long...
Cheers
G.
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Registered User
Joined: 4/3/2005
Posts: 91
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The chart is the result of a news article in the NY Times concerning a possible injunction which now seems to be leading to possible partnerships soon. I WOULD NOT consider this a short play IMO, it
has the probability of a significant jump during Tuesday. The eventual pricing will be what the market considers is the best scenario for a possible partnership. DO not just look at the chart,
Read the news also to see if there is a logical reason. There is a very good chance it will see 2.00 or more this coming week. IMO.
Other than that, make any trades very short term as the internal financials are crap-ugly IMO.
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Registered User
Joined: 9/22/2005
Posts: 849
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Thanks, guys.
Sentiment seem to be somewhat mixed, but I've had good
luck with these kinds of charts.
I think I'll go with my indicators and stay with my buy at Friday's close, 1.18. Hope ipendley's possibility of 2.00 is right, but I'll keep a tight stop in place.
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Joined: 4/3/2005
Posts: 91
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To complete the info, On Dec 6, a jury awarded TRCA 7.5 million + royalties from INSM for violation of a patent that TRCA had licensed from genentech. On 12/6-7, TRCA stock went up over 20% and INSM stock went down about 30% on the decision. INSM drug seems to have a couple of advantages over TRCA, so when the Hearing scheduled for Friday was unexpectedly postponed, the rumor started that the 2 companies might M/A in some way, and thus set aside the award. Also on Friday, one finance company raised INSM estimate to $3. If you search around you can probably find the original articles, especially the 10Q from sec.gov which spells out the suit both in US and UK. On March 15, INSM sold 23million shares at $2.00, and the stock was at about $2.00 before the jury award, but I would be very careful, because if the award is eventually upheld, IMO, things will get very ugly quick. Good luck.
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Joined: 4/3/2005
Posts: 91
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bcraig, Hope you are having a good day  I bought in at 1.24 on open. Was going to hop out at end of day, but I am having 2nd thoughts at the moment. Still a very interesting situation. Be watchful, and thanks for bringing this stock up, I admit, I would have missed it. Jim 
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Joined: 9/22/2005
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I do like these triangles.
This may be a good place to sell half and protest some profit.
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Joined: 4/3/2005
Posts: 91
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I waited until the last 15 minutes, and since it was ending in an uptrend and no specific negative news, I hung in there. Tomorrow is another interesting day IMO, hope you did well.
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Joined: 4/17/2006
Posts: 271
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bcraig, Way to go!! Hope you made a bundle!
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Joined: 9/22/2005
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Greed took over and I didn't sell. I'll see what
happens tomorrow. 20% so far in two days.
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Joined: 4/17/2006
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As long as you've got a trailing stop, it doesn't sound like greed to me, but good decision-making based on the strength of the pattern and price action. Nice going! Take a look at SYNM...Does this look like it's breaking out above a descending triangle with upper trendline defined by peaks in mid-Dec, mid-Jan and mid-Feb with today's bar breaking above? Although as I understand it, descending triangles are normally bearish...but one might see lows in Dec and Feb as a double-bottom. Thanks.
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Registered User
Joined: 9/22/2005
Posts: 849
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I had SYNM back in January when there was a symmetrical triangle from the highs 0n 09/22 to 12/20 and the lows from 11/29 to 01/10, waiting for it to break the top of the triangle. Instead it broke down through the bottom of the triangle on 01/26. I liked that triangle because the prices had touched both the top and bottom three times for each.
It has now formed another triangle with the original highs plus the one at 02/15 and the lows on 12/05 and on 02/13. I don’t like the looks of the new triangle because it looks so ragged in the middle and only touched the lows twice (at the beginning and the end).
Instead the original triangle now conforms to Bulkowski’s definition of a busted triangle, one in which the price broke out in the wring direction and then turned around. He said that these average gains of 43 percent of the measure rule. The difference between the highest high and the lowest low of triangle, in this case 0.43 * 1.62 = 0.70. Add this to the new breakout price on 02/20 to get a new target of 4.34.
My ideas, for what they are worth.
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Registered User
Joined: 4/17/2006
Posts: 271
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Thanks very much, bc. I'm going to have to take Bulkowski down off my bookshelf. Appreciate your read on SYNM. Good luck on INSM today! Hope your 20% is multiplied 4-fold or more.
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Joined: 9/22/2005
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I am using Bulskowski's Getting Started in Chart Patters. The discussion of busted symmetrical triangles is on page 233.
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Registered User
Joined: 4/17/2006
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Thanks, bc. I have his "Encyclopedia of Chart Patterns". Will look for busted symmetrical triangles. Does he actually call them "busted"? Thanks much.
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Registered User
Joined: 9/22/2005
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In my book he does. There are three or four pages devoted to "busted triangles".
a "busted triangle" is a pattern similar to SYNM since 01/26.
I lost my nerve and sold INSM at the open.
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Registered User
Joined: 9/22/2005
Posts: 849
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In my book he does. There are three or four pages devoted to "busted triangles".
a "busted triangle" is a pattern similar to SYNM since 01/26.
I lost my nerve and sold INSM at the open.
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Registered User
Joined: 4/17/2006
Posts: 271
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Thanks, bc. As for INSM, it sure seems like selling was the prudent thing to have done based on how it opened. And I just found the Bulkowski site, "thepatternsite" which looks very interesting. I think you'll like it.
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Registered User
Joined: 9/22/2005
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Thanks Shark. I'll check that site out
Like the man said, you can't go broke taking profit.
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Registered User
Joined: 9/22/2005
Posts: 849
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Thanks Shark. I'll check that site out
Like the man said, you can't go broke taking profit.
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Joined: 4/3/2005
Posts: 91
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INSM up 20% AH to 1.65. Anyone else still in this gamble?
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Joined: 10/7/2004
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QUOTE (bcraig73450) Comments and opinions appreciated.
Looked up ingm Bought it at 1.23 sold 1.42 it is now 1.56.
Thanks for the tip
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Joined: 10/7/2004
Posts: 18
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QUOTE (Remcdee) QUOTE (bcraig73450) Comments and opinions appreciated. Looked up insm Bought it at 1.23 sold 1.42 it is now 1.56. Thanks for the tip
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