charts to look at ONXX

[FibMaster]

would appreciate any comments about charts BG and ONXX. thanx

I posted separately about BG for you.

ONXX is a bullish chart too! It has to be above $52.00 though, because the bears have power below there. I have a critical Fibonacci support level at $52.50, and two prior swing lows at $52.00, so watch out if it goes below there.

How are you finding these bullish charts?

[lori]

the charts r from a subscription that i paid for almost a yr ago.
everytime i went w their recommendation, i lost $$--so i quit reading
them even! their guy calls me almost wkly and switches things around
trying to accommodate me, but i couldnt see their rationale when i
looked at the charts. lately theyve had some that made me look twice,
but i'm edgey, so if u dont mind--i want to check them out w u. i think
we're seeing the same things....still not sure where to put my
expansions. and i dont know how to judge how far out to buy the options
for them. if u can help me, i'll...........well i dont know what--be
ever so thankful, i guess!!

[FibMaster]

If you buy options that have a longer life, you have more time for the market to perform. I suspect that would be more to your liking since you are taking longer term positions. Don't buy options that are too far out of the money, or their price will not move well in relation to the underlying.

Option pricing can be very complicated. Unless you want to make a study of them, you should first focus on trading stocks themselves. Once you are comfortable with your stock trading skills, then consider options.. Why make things more complicated, trading is difficult enough? Right?

[FibMaster]

Attached is a weekly chart of ONXX. There is major support at the $47-$50 area. If this support holds it could be a buy for the long term. If that support breaks, we'll have great shorting. Below there, it's a matter of shorting rallies on the daily chart imo.
This is a weekly chart, so it could take some time to develop support. Not for intraday traders..