It's not easy to buy a 12% gain, but that is where the phasing in works, allowing some room for a possible pullback, I would use the Trend Channel as the stop or just below it ($.60 area).
5 years ago
Thursday, February 2, 2012
GALE Pair Trade
If you want to run a pair trade in biotech with QCOR, take a look at GALE, while a very speculative trade, I do like the look of the chart and I do like the idea of a pair trade here (short QCOR/ Long GALE).
Gale RSI positive divergence and a long X-over signal. Obviously a pullback would be great, but again, a phased in approach might be the best approach with GALE. The position size should certainly be much smaller as this is a speculative stock, but in the same sub-industry group as QCOR.
The candlestick indicator (still no name) has shown a bullish slant lately with candles closing in the upper half averaging around the top 75% and up to the highs of the day.
Long term daily accumulation and a rounding base.
Longer term 3C leading positive.
It's not easy to buy a 12% gain, but that is where the phasing in works, allowing some room for a possible pullback, I would use the Trend Channel as the stop or just below it ($.60 area).
It's not easy to buy a 12% gain, but that is where the phasing in works, allowing some room for a possible pullback, I would use the Trend Channel as the stop or just below it ($.60 area).
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