Near the end of last year OncoMed was bought as a bottom feeder play and then sold as a ‘the stock just ripped so hard it made my jaw drop’ play.

NOTE:  Not Posted in Real Time Thus Readers May Ignore Anything to Follow

Anyway, since I considered the news that originally launched OMED to be fundamentally sound as opposed to hype, I’ve kept it on radar all these months. On Friday I saw it sitting at support and decided to take a shot.

Yet I did not expect one big gulp, so with OMED at the moving averages, MACD red and RSI 50, I am going to say thank you and skulk away with my 14% for about 5 hours holding time (plus a weekend).  There are some stocks I cannot win with and some that go the other way.