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Long PCYC at $40.66

Recs

1

June 14, 2012 – Comments (0) | RELATED TICKERS: PCYC

Here's my latest trade: Pharmacyclics Inc (PCYC) which is breaking out nicely after a short-term bull flag. I'm looking for continuation on this incredible run the stock has been on. It's imprtant to give stocks like this plenty of room to roam, because often times there is a lot of emotions driving the stock, so I'm willing to give a little more wiggle room on the stop itself. 

The market is also breaking out nicely today, and tryging to get out of the 5-day trading range it has been stuck in. Upper 1320's, at least, is where this market needs to close at. 

Note: Jumped in this after noon in PCYC at $40.66. Stop is noted on the chart and my target price is roughly $45. I'm giving it 2-3 days to work out. 

Here's the trade setup

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