A Cycling BIIB

Many health-related stocks have been doing well. Biogen Idec, a biotech, has been doing very well. In June, BIIB pulled back right to a 50% retracement level from the January low to May high advance.

Since then it has been cycling upwards within an ascending channel.

On Friday, BIIB's 3.2% advance took it into the upper half of the channel. It could be bought for a ride to the upper part of the channel. But I'm going to watch this stock, looking to take advantage of any pullback for a better entry, or a month from now, a cycle low. Identifying regularly cycling stocks and timing the trades to the cycles is high probability trading at its best.

Of course, there's much more you need to know and many more stocks you can capitalize upon each and every day.  To find out more, type in www.markettamer.com/seasonal-forecaster

By Gregg Harris, MarketTamer Chief Technical Strategist

Copyright (C) 2013 Stock & Options Training LLC

Unless indicated otherwise, at the time of this writing, the author has no positions in any of the above-mentioned securities.

Gregg Harris is the Chief Technical Strategist at MarketTamer.com with extensive experience in the financial sector.

Gregg started out as an Engineer and brings a rigorous thinking to his financial research. Gregg's passion for finance resulted in the creation of a real-time quote system and his work has been featured nationally in publications, such as the Investment Guide magazine.

As an avid researcher, Gregg concentrates on leveraging what institutional and big money players are doing to move the market and create seasonal trend patterns. Using custom research tools, Gregg identifies stocks that are optimal for stock and options traders to exploit these trends and find the tailwinds that can propel stocks to levels that are hidden to the average trader.

 

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