Sunday, March 11, 2007

Invitrogen Looks Good Here

Invitrogen (Ticker: IVGN) looks like a good short / intermediate term trade. Just take a look at the chart and its fundamentals isn’t bad either. The stock recently filled the recent gap up when the company released a positive earnings report. Now with the recent correction, the stock has traded back down and looks like a coiled spring. I see minimum down side risk in this stock. I currently have a long term position in this stock, but I may pick up a few more shares for a quick trade. A lot of biotech’s look good right now with many sitting at long term support levels. Which one to pick with so many to choose from???

3 Comments:

At March 15, 2007, Blogger Banker said...

Any thoughts on the over all health of the markets ?

 
At March 18, 2007, Blogger z-stock said...

yMT
I bought BIIB and GENZ, but I haven't been able to hold for more than a day or so.
I think what's holding the BIO stocks from rallying, is there's more downside risk in the market. DIA 200 day is 117 / 118. If DIA falls another 2 or 3 points to 117/118, then maybe BIO can get rallying, again.
z-stock
Tooth and nails, market, that's for certain.

 
At March 18, 2007, Blogger Money Turtle said...

The biotech sector is cheap right now. It needs some kind of catalyst to get it going. Maybe some good news from Amgen can kick start the sector.

 

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