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Allan Harris
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Allan Harris is an outspoken advocate for technical analysis via pattern recognition as the only effective methodology for making money trading the stock market. Allan has been involved in the markets for 40 years, starting as an options trader while attending law school in the late 1970's and... More
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  • No Better Bet Than Biotech 0 comments
    Dec 11, 2012 3:08 PM | about stocks: CLSN, CTIX, AAPL

    Yesterday I posted a chart of Cellutix (OTCQB:CTIX) showing a Buy Signal at $0.55 in May. CTIX has now broken above $1.50, almost a triple in a little over six months.

    Today's Biotechnology runner is Celsion (NASDAQ:CLSN). During the same period CTIX has run up close to 200%, CLSN has run up over 300%:

    (click to enlarge)

    (click to enlarge)

    When these two started their runs, AAPL was at $600. An equivalent run would price AAPL today at about $2,000. For those who argue the comparisons between two highly speculative biotech stocks and Apple Computer is insane, I argue that we are in this game to make money, not sanity. The same trend line had all three stocks on Buy Signals and a Buy Signal is a Buy Signal.....what else can it be?

    (click to enlarge)

    Disclosure: I am long OTCQB:CTIX, CLSN.

    Stocks: CLSN, CTIX, AAPL
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