Using Fibonacci 1.62 Buy Signal for ONSM

Using Fibonacci 1.62 Buy Signal for ONSM

To be a winner in this stock market, we have to find the right stock with value and the right “buy entry”. Smart money are on the upper hand where and when to pick the right stock as they are equipped with trading tools, capital, research and knowledge. They can drive the stock / market as and when they wish. They practice the right strategy in setting up buy and sell order, but we do not know what type of strategy they use and when they move the stock on the upside and the down side. We can’t beat them, but we can join them on the first day of reversal on the upside.

What sort of strategies then we want to apply in order to join them?
How can we identify the buy signal?

We knew that to make money in this stock market, we must “buy low and sell high.
However, more often, we are scared to touch the stock when the share price keep on dropping and look for another stock to play.

My previous”trading tips” spell out clearly, “buy when you are most feared or scared to touch the stock”. This is the psychological barrier that separated the 5% winners from the 95% losers in this stock market. I scanned through the stock charts on my radar screen, and feel that we can use Fibonacci 1.62 pattern for the ONSM buy entry. Remember, we will make good profit if we time correctly of our “buy entry” on the first day reversal on the upside. As usual, my disclaimer, buy at your own risk with calculated stop loss when the stock goes against your position.

“Buy Entry”

I can’t tell you exactly the price to go in until the market open. Most likely, the right entry price range from 2.45 to 2.55.

DNDN

I have talking lots about DNDN lately. We have to wait for tonight action and will monitor closely during the first half an hour. We do not know when the smart money will move this stock on the upside. We have another approximately 2 weeks from tonight awaiting approval of Provenge from FDA. The latest data I received by e-mail, June Put and Call Options is very small.

Call Strikes and Open Interest
10.00 49,014
12.50 22,349
15.00 49,225
17.50 41,927
20.00 56,825
22.50 16,594
25.00 44,336
30.00 28,548
35.00 11,915

Put Strikes and Open Interest
2.50 58,718
5.00 38,375
7.50 70,000
10.00 73,633
12.50 82,954
15.00 77,144
17.50 38,018
20.00 24,989
22.50 6,481
25.00 4,653
30.00 2,946
40.00 19,548

Stock options in May expire on May 18, 2007.

Forbes showing a doctor's efforts urging the FDA to delay the approval of Provenge. The funny thing is that open interest for the JUNE Put and Call options is very small. The interpretation of that would be that there is no expected delay in the review by speculators and investors.

Shares have traded "only" 9.65 million shares last Friday and the low for the day 15.04 that was higher than previous day of 14.94. We can expect a pick-up in the interest and trading on this probably starting tonight, the midst or end of next week.

Kenttkw,

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