RE: mcarter4I would politely suggest you go back and read and try to actually comprehend my posts before you make such inane responses. If you desire to be the ace, cub scout reporter of this MB you should take more care.
I never in any way suggested anyone wait to invest in a biotech until they achieve "recurring revenues" (in fact I would almost suggest that is the time to sell). You shouldn't intentionally lie like that. I actually stated that for a number of reasons including the fact that they don't have recurring revenues that using TA to invest (make buy/sell decisions) is not overly useful, IMO, for a stock like ONC. Why you distort what I say is rather odd, is this a common trait of yours?
If you would care to listen and learn I will tell you how I invest successfully in biotech. I view ONC sort of like an option, I know how much I'm willing to initially pay and then my horizon is 5+ years, and I then expect to realize either a 500%+ return (at the end), or else I will most likely lose 50%+ of my investment (sometime before the end). As the company proves itself over the initial investment I scale up (in large part because I try to invest in small bio's like ONC that at this point in time are primarily a dream and a wish) until I'm fully invested. My current largest bio holding, IDB (a great Canadian biotech with a market cap now approaching $500M US), I've now held for 4+ years in ever increasing amounts (I've never sold a share and only added to my position).
To use TA for a stock like ONC is for me of limited use, as ONC is primarily about discovery and development and real share price movements are based on events (discovery, trial progress, financings, partnerships, etc.) that are somewhat random in nature but never very plentiful (how many significant announcements has ONC made in the past year and how much complaining about lack of NR's are there on this board). You buy because you think the science has a chance and that management can make it happen (which is why I placed an initial investment in ONC). Company specific price movements (in a tight lipped company) tend to be related to anticipation of clinical progress, the other events should largely occur without anyone knowing. Big moves tend to be violent, significant and directly following a NR (good or bad).
Biotechs like ONC can have 10 to 20% price moves intraday on any day for no particular reason other than they are thinly traded and any large order can cause a big move (e.g. the other day when a potentially inadverent at Market Order caused a large temporary spike). The only TI I think useful in a stock like ONC are Bollinger Bands and only because the spike usually has to be really significant to exceed the bands either high or low. Even then if the stock is appreciating I wouldn't recommend selling.
I say pay the price you think is reasonable, ignore the day-to-day and week-to-week fluctuations, ignore TA and buy/sell when important events occur or when you feel otherwise compelled. So long as you are in before Phase III of a successful compound you will make great return. That my friend is how I invest in biotech.
Please desist from distorting what I post in future. Do you have an ulterior motive?? I do agree with your last sentence, and actually suggest you've failed your own standard.