Thursday, July 14, 2005

A compelling buy candidate: IRIS


IRIS looks like one of the most compelling buy candidates to me tonite. I'm not going to take my whole position until the upper-channel line is broken, but I will probably try to start buying at the 50-day if I can get it. The reason it is dangerous to take my whole position while it is still under the upper-channel line is because theres a good chance IRIS may continue to drift down, forming another cup shaped consolidation. Another buy opportunity would be the first pullback to a key moving average after a strong-volume breakout.

1 Comments:

At 11:47 AM, Blogger Gordengekko said...

Jon-

I gave you a plug on your IRIS post. We like IRIS as well. A breakout above 19.40 would be a very good sign.

Gekko

 

Post a Comment

<< Home