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Long in RAX and ENZN



April 19, 2011 – Comments (0) | RELATED TICKERS: RAX , ENZN.DL

Couple of new stocks that are in play for me today Rackspace Hosting (RAX) at $42.01 and Enzon Pharmaceuticals (ENZN) at $11.07. The latter of which is a good reminder why I tend to deplore swing-trading biotech stocks, as some random news peace happened to come out without notice (as they all do usually) and swing the stock around .20 cents in both directions before calming down and ushering in a head fake as shown below. I'll likely dump this play should it not recover before the end of day. RAX on the other hand is in the middle of a very attractive bull-flag, and looks like it is ready to break out any day now.

LONG: Rackspace Hosting (RAX)

LONG: Enzon Pharmaceuticals (ENZN)

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