3SOF

You're welcome coolwood, I'm learning too 

RITA advanced 2% today, but there was a more important technical development: volume picked up considerably !

Slowly but surely RITA has moved away from the ascending trendline support and soon will be attacking the resistance level at $4.19. Perhaps this news had something to do with today's rise:

RITA Medical to Present at the UBS Global Life Sciences Conference

The conference will take place only on September 27th so maybe there's some potential for speculation around what the company might say at the conference. Visibility is always welcome for a company with attractive fundamentals like RITA.

The spectrum of a support break is now completely out of the question and I will continue holding RITA, it's wise to let a loss turn into a profit and then to let that profit run.

This was a day without story for RITA. The company will present at the UBS Global Life Sciences Conference on Tuesday for a public of roughly 4,000 institutional investors.

This wasn't a good day for the 3 Stocks on Fire Portfolio and RITA went down 3%. This battle is taking a lot of time to win, and it's sucking in resources. How many updates have I made on RITA? Will I make a profit? I don't know, but I know one thing: there's no justice in the marketplace.

The ascending trendline for tomorrow will be standing at $3.64, RITA can't close below that trendline or I'll sell.

David --

I've been tracking your odyssey with Rita, and I'm sorry that she's not treated you better. What you could have done, what you should have done, what I would have done, what others did or didn't do . . . it's all water under the bridge.


I know one thing: there's no justice in the marketplace.

How true! But RITA looks OK to me at this point. The stock is trending. Trendlines don't figure heavily in my approach but the little lady has approached one that you've draw and seem to view as significant.

I see a cheap, well-defined trade setting up:




On Monday, one could buy, say, 3.86 DAY if -- and only if -- she makes it. If filled, an initial stop could be placed at 3.53 or, to be really sure that one's good and wrong, at 3.43. Taking a pilot position and using either of those stops should make the risk acceptable even to small accounts.

Let's see if she decides to comply.

Thanks for your analysis Waschbaer, and good luck with RITA 

Nothing new on the technical or fundamental front. The ascending trendline is standing at $3.65, I will hold for as long as the stock closes above this trendline.

I hope there will be some interest for this company at the UBS Global Life Sciences Conference, which is scheduled for Tuesday.

MarketWatch
Market Pulse: Rita Medical delays shipments of Habib4X
Tuesday September 27, 6:11 am ET
By Aude Lagorce

LONDON (MarketWatch) -- Medical device company Rita Medical Systems, Inc. on Tuesday said it has delayed domestic shipments of the recently launched Habib4X resection device. The company said there were reports that the sterile packaging of some products had been compromised during shipping. Rita Medical said it hopes to be able to fill its backorders in the fourth quarter.
&
Rita Medical Delays Device Shipments
Tuesday September 27, 7:45 am ET 
Rita Medical Halts Shipments of Habib 4X Device Because of Packaging Problem


FREMONT, Calif. (AP) -- Rita Medical Systems Inc. on Tuesday said it halted shipments of its Habib 4X resection surgical device after several customers reported that the sterile packaging had been compromised.
The company said the reports prompted it to inspect a shipment of the recently launched device to its Georgia facility and found that the packaging could also have been compromised en route to customers.

Habib 4X shipments will not resume until the packaging has been redesigned, Rita said. The company added that all existing and future orders will be backlogged until the issue has been addressed, and that it expects to be able to fill backorders and meet anticipated demand during the fourth quarter.

Joseph DeVivo, president and chief executive officer, noted that the situation remains a packaging issue and that Habib 4X has "performed well in clinical situations."

Thanks for posting the news la-onda. Reading the news I guess RITA will break its ascending trendline today, which is standing at $3.66. So I will sell the stock at the open, been holding it for too long now.

So much hard work for nothing, better luck next time.

What happened to trading your plan?  This stock held support and will close above the trend line at 3.66.........I thought you weren't gonna be out until it CLOSED below the trend line?

The Habib sealer, that was recalled b/c of packaging, was not even in the 3Q #'s anyway......

I think you missed an opportunity to reverse your losses.........TA 101 says stay with your plan, even when it doesn't seem right.

But it didn't, and this is the problem

Having been in and out of RITA a couple of times and been frustrated both times, I can fully understand that at this point David was willing to take that chance and move on.  Not only is it hard to stick to your plan when a stock has been in the red for so long, but it is also tying up capital that could be used for other purposes.

For David's sake, I hope he sold at the high of the day and not the low, to at least pull a little more back from this one.  There is no doubt that at some point RITA will do well for her investors - see the fundamentals discussion on this thread - but with a gap down on the highest volume we have seen in ages, I would steer clear of this one for now until we see some strong positive indicators

RITA DD update November 05

*Moved Above Upper Bollinger Band
*Parabolic SAR Sell Signals @ 6.010
*Commodity Channel Index (CCI) Above 100 @ 30 & 60 day ranges
*RSI  divergences 70%  Rising
*Aroon & Aroon Oscillator:
   Aroon Oscillator signal upward trend above zero
*Trading Above 50 - 200 MA
*Median Target: $4.50 52wk High $.5.23 Good Upside
    2.80 Short Ratio


*Trend Spotter Overall Average:  40% - Buy
*Montgomery & Co. 4 StarMine Rating
*6-Sep-05    CE Unterberg Towbin Initiated Buy
*Reg.Med. Vol. Yahoo - MB

*Thomson I-Watch - Moderate Institutional & Retail Buying
     Low Sell offs
*Recent Insider purchases $2.82 - $2.86
*Above Avg Vol  456,806 vs 165,995

NEWS:   
AP - Rita Medical Up on New Medicare Codes +        11/22/05
(http://biz.yahoo.com/ap/051122/rita_medical_medicare.html?.v=1)

AP - Rita Medical Resumes Product Shipments +       11/15/05
(http://biz.yahoo.com/ap/051115/rita_medical_shipments.html?.v=1)

Bullish Breakout Underway IMHO

Anything else?

Having followed RITA (when she was most definitely not a beautiful girl) during her time as a SOF, I was very interested to see this come up this afternoon - just a shame I didn't spot RITA 2 days ago when it made its initial breakout from its descending trend.

Anyway, as I see it, RITA has broken out of a short term descending trend, but peaked today at the resistance line of a symmetrical triangle formation that has been building over the last 6 months.  On the plus side, it closed at the HOD, which may suggest continuation tomorrow. If the action follows through tomorrow with increased volume, a definite breakout is on the cards.  However, 3 days of gains totalling over 22% and sitting at resistance may be too much, and it could fall back, ranging within the triangle.

If it does break, I can see 2 potential targets:  One is the previous ascending trendline which it broke in late September, which I would put around $4.50.  I higher target would be the technical target of the symmetric triangle, which would be, $5.50 (breakout price of $3.90 plus $1.60 triangle range).

From a fundamental perspective, much work has already been done here, and the overall analysis from members of the board has been that RITA has huge potential, and is certainly undervalued.  Just have a look back at the thread to get the wider perspective.

I'll be very interested to see how she fares at tomorrow's open

Thanks for the edifying response.
Looks like she still has legs.
Last Trade:   4.00 Nov 23
After Hours Change: Up 0.07 (1.78%)
Friday Looking Good could use some volume.
Thanks again.
-BPKC

Hey! she is looking pretty good 

If it comes back to the high 3.6's, might it be worth another buy?

Yes David - Rita was a beautiful girl. But she was only a girl.

Now she has grown up and looks better than ever. Not only that but she might soon earn her first salary.

I am probably the only 3SOF who are still faithful to this beauty but I don't think I will be the last to fall in love. Soon she will get a lot of attention from all the gigolo's who is just in the game to earn money!

Mike

Yep, she's getting prettier every day, LOL!  I entered this stock in the contest, and bought some the same day.  I'm up over 8% on it now.  I got in with real money at a better price than the stock contest has me at.

Leaira