It is a little embarrassing to admit but the Rule of Thumb #1 described in the previous blog gave an earlier buy signal on DERM than the method I normally use to find my speculative stocks. But even if I was late to the party I still could make money on this stock.
DERM is a biotech stock that has only been publically traded for about a year now. I went over $20 per share early in its life but then quickly reversed an spent many months in the teens before shooting over $30 today. So, you could have made a 50% profit in less than a year.
Or, if you had followed my method you would have had a second chance to buy DERM in the high teens a few weeks ago and still enjoyed a nice run to $30.
Will DERM go higher? Yes, it probably will now that every day it moves higher it is at an all-time high. So the momentum traders will probably jump on it and push it higher now that it is one of those few stocks that have a nice year-to-date gain. As long as it keeps moving higher then you can comfortably commit more money to it.
This is not a recommendation to buy DERM but rather a chance to see how my method of speculation works (or not.)
DERM is a biotech stock that has only been publically traded for about a year now. I went over $20 per share early in its life but then quickly reversed an spent many months in the teens before shooting over $30 today. So, you could have made a 50% profit in less than a year.
Or, if you had followed my method you would have had a second chance to buy DERM in the high teens a few weeks ago and still enjoyed a nice run to $30.
Will DERM go higher? Yes, it probably will now that every day it moves higher it is at an all-time high. So the momentum traders will probably jump on it and push it higher now that it is one of those few stocks that have a nice year-to-date gain. As long as it keeps moving higher then you can comfortably commit more money to it.
This is not a recommendation to buy DERM but rather a chance to see how my method of speculation works (or not.)