Onyx Pharaceuticals (ONXX) on Wallstrip

  • Posted by
  • on December 3rd, 2007

The cancer trend is an awful one, but one where the biggest payday’s lie for the winning companies. Lot’s of money has flowed into Onyx Pharmnaceuticals in the last few month. Here is their website .

Anyone who reads this blog knows that I try and stay away from biotech. I own QDEL, AUXL and ESRX, all Wallstripped and ON FIRE by the way. GPRO (also wallstripped) has been the weakest performer in the biotech part of my portfolio.

Onyx is one that I am really considering.

The problem is, we have seen this wild behavior in the stock before back in 2004. The stock stopped this time right at the highs of 2004.

The FDA news flow has been very positive and the war on cancer has never been more important. I am not sure if I should add on this weakness or further strength above $60.

Brian looks to shed some buy/sell light on the stock with his technical look:

I am holding off until I have a little more time to watch the stock action. i don’t mind paying up in the meantime if that’s the price for a little more homework.

If you have some insight, lay it on us.

Disclosure- Long QDEL, AUXL, ESRX and GPRO

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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