RITA

[ritastruts]

I think you have Rita figured right. If there is an earning suprise as you are hoping, what would be a good suprise?

[Tirebldr]

David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your uptrending line which is being watched so closely?

[nikao]

David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your uptrending line which is being watched so closely?

I think that's no flag. A flag needs a post

This is just triangular behaviour. This one is (was) sticking to the descending resistance of the triangle.

[David Randolph]

RITA has no story today, time is running out for the stock to choose its path, and I will act accordingly. For tomorrow support stands at $3.41 and resistance at $3.53.

It looks like RITA made it, just for one tick, but it closed above the short term descending trendline  Volume was low with 131,500 shares changing hands but still the highest of the last 8 sessions.

Let's see if RITA can make a confirmation of the breakout today, with a white candle.

I think you have Rita figured right. If there is an earning suprise as you are hoping, what would be a good suprise?

Nothing would surprise me, I'm prepared for all market events and developments. I will hold the stock for as long as the trend is bullish, given by the ascending trendline on the chart below. Thanks for your question 

David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your up trending line which is being watched so closely?

I got be honest with you Tirebldr, I'm don't «see» that flag pattern a lot. I'm not a big fan of it, don't know why, and since I studied it some years ago, I don't quite remember the details of the pattern. I have several books at home that explain the flag pattern (now I'm in the office, tomorrow on RITA's update I hope I can be of any help).

[Amarens]

RITA went down 1% and it was one of the best stocks on the 3 Stocks on Fire Portfolio today, so you can guess I got a sea of red to analyze this evening.

But, what you see is what you get, I have losing days like everybody else, of course, you can learn from my successes and mistakes. A wise man can learn from his mistakes, but the true genius learns from somebody else's mistakes.

RITA has no story today, time is running out for the stock to choose its path, and I will act accordingly. For tomorrow support stands at $3.41 and resistance at $3.53.

Hi David,

New I read this quote (A wise man can learn from his mistakes, but the true genius learns from somebody else's mistakes.) And took an hour to find it again  . Just because I wanted to compliment you and all others posting, helping, explaining and show support on this site. I am learning every day. Not always as a genius woman, because sometimes I decide to go in and learn along the way.

I'm new to TA and still learning. This site helps a great deal. And more important it encourages to learn faster and more. Because I also want to contribute and maybe even be the start of a great trade in the near future for all of us.

Thanks and with all of you I'll be watching RITA and learn wisely...

[David Randolph]

Thanks Amarens 

I had some personal problems and couldn't be on schedule to make these updates, I want to apologize for that. I'm going to make them now, with the market already opened, one by one.

RITA yesterday was able to break its triangle pattern on the upside and had just 300 shares traded today so far ... so you know I haven't sold yet 

I will continue to hold RITA, the ascending support line for today stands at $3.44.

[David Randolph]

I want to make three technical considerations today about RITA:

1) Thinking about the downside, on every update of this stock we've discussed the ascending trendline, which tomorrow will stand at $3.46. If the stock fails to close above this trendline I'll be forced, by a matter of discipline, to take a small loss (first chart)

2) There was a symmetrical triangle breakout on Thursday, the technical target of that breakout is $4.57. But I'm not inclined to sell there (second chart)

3) I think the potential upside is about $6, that's where the real long term resistance comes to play. I've been talking about this level since the start of this thread on the 26th of July. I wish I'll be able to sell there, but RITA needs to runaway from this support zone quickly (third chart).

I'm not smart enough to know what will happen next on RITA, so I have set a simple trading plan with a high risk/reward ratio to trade the stock. Now I need to have the discipline to follow that plan.

Probably those that are following the 3 Stocks on Fire Portfolio from the beginning know that I've always followed my trading plan when it concerns to taking losses when they need to be taken (I believe only once I've let a stock fall beyond what was necessary to know it was a loss), but I wasn't so disciplined about letting the profits run, and that has damaged my overall performance, which by now could be higher than the actual 148%.

I should start letting the market tell me how much is enough.

I hope everyone is enjoying a nice Labor Day. Since I don't watch many television I wasn't aware, until this weekend, about the great damage and loss of life there was in Louisiana, Mississippi and Alabama. Some members of our website are from those states and I hope they are alive and well. I'm very sad about this horrible tragedy, but I believe the United States of America is a great, great nation and you will come out of this stronger than ever.

Perhaps, in the future, I will move to the US, if it wasn't for my family and friends, I would run now to go after the American dream.

God bless America !

[valueseeker]

Hi David,

For RITA to go to $6 and beyond, it needs to have BSM type of news (BSM went up 2x last week):

http://biz.yahoo.com/prnews/050830/latu025.html?.v=20

Personally, I don't understand the difference between the two companies enough to tell the similarity of their products (we need some real MDs in 3SF). But, I can only see the financial differences:

1. similar market cap
2. RITA has at least 2 FDA approved products, and $40M revenue and about to show profitability. BSM has about <$4M real revenues (the only reason it shows profitability is the sell of an asset/license that is unrelated to their main product).

I am staying with RITA for another quarter, along with other biotech stocks in VPHM, AOB and IDBE


-Valueseeker

[Michael]

Hi Louis

I am still not sure that I understand the implications of BSM's PR last week on their stock price or for that matter on RITA's stock price. My intuition tells me that the jump in their share price was not fundamentally justified and if I had to make the choice of which company to buy tomorrow morning I would buy RITA without a second thought.

Just my opinion.

Mike

[valueseeker]

Hi Michael,

Agree that BSM's rise was not fundamentally justified and I think it will drop this week.

However, it MIGHT point to some potentials that RITA products as well. Again, I wish we had some MDs on this site.

Since the downside risk for RITA is small and upside is potentially big, I will continuously hold it till next earning.


-Louis

[la-onda]

analyst coverage initiated !!! 

06-Sep-05
09:54 RITA Rita Medical started with a Buy at CE Unterberg; tgt $4.50 (3.59 +0.04)

CE Unterberg initiates RITA with a Buy and $4.50 tgt. Firm believes that after spending the last 12 months stabilizing its business as a single operating entity following its merger with Horizon Medical last July, RITA is now positioned to achieve steady improvements in its financial performance. They think the acquisition has more than doubled the co's revenue and believe that it is now on track to reach profitability for the first time within the next two quarters.


http://www.briefing.com/Silver/Calendars/UpgradesDowngrades.htm

[David Randolph]

Thanks for your posts 

After so much wait, finally RITA made it, she gave us a beautiful long white candle to celebrate. Definitely out of the danger zone, RITA now has a chance of making a move to new highs.

[nikao]

 I think RITA is listening to me

everytime I get impatient or I say something bad about her she's moving the next day

I get boring with her and say she didn't show a valid break out:
http://stock-diary.blogspot.com/2005/09/triangle-escape-rita.html

and there she goes! 
http://stock-diary.blogspot.com/2005/09/alive-and-kicking-rita.html

[David Randolph]

RITA had its intraday correction yesterday and it held. I think the chart shows a clear sky for a trip to new highs, I just wish volume was a bit stronger.

The ascending trendline for today is standing at $3.50.

[la-onda]

fyi:
http://www.imperial.ac.uk/P6802.htm

New surgical device for bloodless operations gets first US outing

See also...
External Sites:
-Hammersmith Hospitals NHS Trust
-RITA Medical Systems
(Imperial College is not responsible for the content of these external internet sites)For immediate release
Thursday 8 September 2005

A new device for removing liver tumours with virtually no blood loss has been successfully used for the first time in America.
The Habib 4X resection device is named after its inventor Professor Nagy Habib , from Imperial College London, Professor of Hepato-Biliary Surgery at Imperial College London and chief of service for gastrointestinal surgery at Hammersmith Hospitals NHS Trust in west London. The revolutionary new device uses radiofrequency energy to 'seal' tissue around a tumour site, allowing the tumour to be removed while preventing blood loss and other complications. The device has enabled surgeons to operate where previously it would have been too risky.
After developing the technology Professor Habib formed an Imperial College spinout company, EMcision, who have a worldwide licence agreement with US-based RITA Medical Systems. The Habib 4X received approval from the US Food and Drug administration in August, and the first operation using the Habib 4X took place at the City of Hope National Medical Center in Duarte, near Los Angeles, California, last week. The Habib 4X is already licensed for use in Europe.
The Habib 4X works by delivering high-energy radio waves through a hand held device consisting of four electrodes into tissue around the tumour. They heat cells causing them to dehydrate and thus form a seal. The tumour is removed with a scalpel, with virtually no blood loss, and without the use of staples, glue, ties, and sutures.

Before use of the device in the UK for the removal of liver tumours, patients often lost up to ten pints of blood during the operation. Now, less than 50ml (an egg-cup full) is lost, and the patient spends less time in hospital intensive care. Over 100 patients have been operated on with the new device since October 2004, and none have died or suffered serious illness after the operation. The average hospital stay has been reduced from two weeks to eight days. When patients were followed up over a period of between two and 20 months, tumours had not returned in any of them. "The liver is the second commonest site of cancer in the body," comments Professor Habib, "So the potential of the Habib 4X is huge. The first use of the device in America is a significant and exciting milestone."

"The liver is the second commonest site of cancer in the body," comments Professor Habib, "So the potential of the Habib 4X is huge. The first use of the device in America is a significant and exciting milestone as we continue to develop the potential of radio frequency and microwave technologies for surgery."

As part of the licensing deal, the Habib 4X will be made available to developing countries in Africa at cost price.