DVAX Hangs in By a Hair, Bursts Upward

I had held this one for two reasons…

  1. Its fundamental potential and…
  2. Its chart.

And then there was only one reason I kept holding after the daily chart got busted. I had resisted taking a significant profit in April and got repaid with a subsequent paper loss. It was the old ‘that’s show biz’ thing and it comes with the territory if you’re not a strict day trader, which I am not. In NFTRH we noted the weekly chart and its critical support, which has held. And so, I held.

But I do find aggravating how they tanked it (on volume) yesterday in preparation for today’s earnings release ramp job, complete with highlights of fundamental progress for the company. It held the January low but that thing yesterday is just annoying. This illustrates something I am trying to learn, which is that there are times for me to be a chart guy and other times to just  give ’em enough rope. So I held for Thing 1 noted above and today rewards that patience.

dvax

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