XOMA - Sector: Healthcare - Industry: Biotechnology & Drugs

[bula]

Posted this Friday as most of you know and got out at Friday's close for a nice profit.  Would have been a great sell this morning instead, but a trader can't hold over the weekend except for very special circumstances.   Cash is king. 

XOMA is breaking down now, which I thought could happen after seeing each attempt get sold early this morning. I never bought in.  Not yet.  It's now red for the day and looks to possibly fall further.

I still love this stock to run, but not today imo.  It should get some sellers as some $2+ traders get nervous, but a light washout wouldn't hurt.  It's healthy volume.  If it hits the mid 1.8s, i'll look to get back in if volume dictates.  If it breaks 2.11 on volume, i'll look to get back in.  But in between or no follow through volume, i'll watch it only.

Good luck.   

[David Randolph]

eulogia, try not to watch the intraday moves, it's no use, you shouldn't change opinions during the session anyway.

I think XOMA came down to make a retest to the broken descending trendline (now support) and now is ready to run with the bulls again.

I'll update my analysis after the close, have a nice day !

[seadog]

I am in on this.

[Pirus]

Filled a position at 1.94  Good Luck to us all.

[marshagogo]

I took a small position at $2.05 (3000 shares). Wish I got in at $2 like DAVE but at the
time it was bouncing off that $2 rather quickly.

[boatguy]

In at 1.92-shoulda waited a couple more minutes

[seadog]

I am in on this

[Daves place]

Oh well, I'm in @ $1.98... I thought we were going to go up. Whats happening here.

[David Randolph]

It happened with XOMA what happens with most technical breakouts: a pullback. Old resistance line is now support and this healthy pullback will only make the following advance stronger.

[stocktrader2619]

It happened with XOMA what happens with most technical breakouts: a pullback. Old resistance line is now support and this healthy pullback will only make the following advance stronger.

After hours quote is now 1.83.... Would you consider this retreat a normal consolidation move... Thank you and GOOD LUCK ALL...!!! 

[stocky]

Donot trust AH too much especially on low volume. Yahoo now shows AH XOMA at 1.92

[stocktrader2619]

Thanks, stocky....!!! Now that I think about it, I believe DR said not to pay too much attention to pre-market or after-market movements.... THANKS AGAIN...!!!

[kekec]

Im amazed with the lack of basic trading knowledge among 1200 members here. Some of the guys are totaly clueless of whats going on, but thats ok, it makes the stock market what it is today, so some of the other guys can make the easy money.

XOMA was technically set to advance. If all of you noobs who bought it premarket just because it was another 3stocks call would maybe wait to get a clear buy signal this would probably move a lot better. If its moved few cents from your entry theres no need for panic just yet. Hope you all realize its at $2.00, while on 1st April 2005, which btw was just 50 trading days ago was at $1.00. Now if the stock is moving few cents theres no need to ask questions of whats going on, just set your stops to reasonable price and wait. In meantime I suggest you visit a bookstore and learn yourself some basics.

[Gurukul]

If institutions have sold 6.87 million shares [i.e. 43.7% reduction in position] and insiders are dumping the shares below 1.45 as near as May, 2005

Ref: http://finance.yahoo.com/q/it?s=XOMA

Then I don't understand what would drive the share price up for XOMA.

[David Randolph]

It looks like I've got a problem with XOMA. I was considering one resistance line, the oblique line, which XOMA crossed perfectly. But there was another resistance, an horizontal one, at around $1.94 and we're below that one now.

XOMA needs desperately to go up today. If it goes down and stays down by the close I'm forced to recognize the mistake and sell the stock. Cut the losses, let the profits run, as true today as it was 100 years ago ... such a simple strategy and yet so difficult to follow.