Near the end of last year OncoMed was bought as a bottom feeder play and then sold as a ‘the stock just ripped so hard it made my jaw drop’ play.
NOTE: Not Posted in Real Time Thus Readers May Ignore Anything to Follow
Anyway, since I considered the news that originally launched OMED to be fundamentally sound as opposed to hype, I’ve kept it on radar all these months. On Friday I saw it sitting at support and decided to take a shot.
Yet I did not expect one big gulp, so with OMED at the moving averages, MACD red and RSI 50, I am going to say thank you and skulk away with my 14% for about 5 hours holding time (plus a weekend). There are some stocks I cannot win with and some that go the other way.
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