Ignoring the media for now with all this political posturing, we decided to play an old favorite again. The volume is extremely low today and we wanted to take advantage of nervous sellers and placed a few limit orders below the market to see if we could catch any bored Market Makers. We did. The company is Genetic Technologies (GENE). They have FDA approval to market breast cancer testing in the U.S. and just went through a round of additional funding. We played it before and have been following it for months. I really like the chart in here and I think I have a good feeling for how this stock moves. If you look at the chart, you will see this stock is explosive. We played it before from 5.25 to 10 in just a few weeks. Our cost basis is 5.97. it was very hard to get those shares even though the stock hit lower levels. It seemed the Market Maker had "sticky hands"with those shares. Keeping with trading is fun theme...We will call this trade: "GENE GENE THE DANCING MACHINE". You might remember him from The Gong Show!
Target: 10 plus
