Mazor Robotics (MZOR) is in partnership with one of my other Medical Device/Equipment holdings, Medtronic (MDT) and that is not to be taken lightly. It legitimized Mazor’s status within the Medical Robot ‘me too’ movement.
Last week I noted that I’d held DVAX (a biotech company) despite a stupid breakdown (MMs will come out to play, after all) into earnings and was rewarded nicely for not letting the chart shake me out despite its obvious breakdown. Ugly as it was on a daily chart, it held long-term support.
And now we have MZOR ramming upward by 8% after painting an ugly ugly chart pattern that I just chose not to look at, rather than sell. The key support at which I’d have had to make a decision is noted at 50. Both the SMAs 50 & 200 are still in up trends by the way. So I held this ugly POS and what do you know? Boink.
There is a lesson in here somewhere. Something like unless you are a strict day trader beware chartists baffling you with bullshit in the patterns they see. There are times to obey charts for sure, but if you are fundamentally engaged, as I am with MZOR and DVAX for example, it can pay to have some patience.
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