Trading Alert for 5/11/2011

One symbol to trade tomorrow: $OXGN (Oxigene). Chart is breaking out its long time declining channel and the breakout is happening on a very strong convincing volume for the last several days. It could be well manipulated, but manipulation on high volume is too risky and I don't think its only traders action here. There is some positive momentum supported but real fundamental data.




$OXGN (Oxigene) will be presenting the final phase 2/3 (FACT study) data for its flagship drug, ZYBRESTAT, for anaplastic thyroid cancer at ASCO. The low PPS and market cap for the company is surprising for a company whose phase III data many are expecting to be positive. Interim data announced in October 2010, were mostly positive with overall survival improvements and good drug tolerance. ASCO - American Society of Clinical Oncology will meet this year from June 3-7th in Chicago, Illinois.


Symbol: $OXGN
Backtest Strategy: Pennystocks100 (5 min chart)
Period: May 10, 2010 - May 10, 2011
# Win: 0
# Loss: 0
Winners: 0%
Profit-Loss%: +0%