REGN- Broke out here. Should we buy it? Or?

 

"You are teaching me beyond my wildest dreams. IBD's selling into
weakness and buying into strength has lost me a lot of money over the years. Thank you again."


Yesterday in the happy camper department we talked about buying strength and how that's worked for John who took the time to tell us about it.  So let's take a look at a name that's popping out on strength here.

 

Keep in mind about a week ago QIHU did the same thing and a day or two later broke right back down to the downside triggering the famous 7-8% stop loss rule right at a support level by the way. I can't speak for all you breakout buyers but for me I'm just not a fan of buying any stock AFTER its ran some 35 points like REGN just did. If it goes it goes, I'd just rather see it form another Pullback Off Highs like as shown in the chart.

 

Posted to All About Trends on Feb 11, 2014 — 4:02 PM
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