Cepheid (CPHD)

Company. Cepheid "dedicated to applying breakthrough microfluidics and microelectronics technologies to revolutionary test systems for DNA analysis applications." (company website)

Buy. Cepheid made a nice jump above the $5 level in early September, then pulled back for three straight days. On the fourth day, it started to rise, and I bought, hoping the pull-back was over.

Wrong again! What followed was several days of consolidation between $5 and $5.25 before the end-of-September blahs hit. CPHD plunged all the way back to $4.50.

Sell. CPHD moved steadily upward for the past two weeks and closed for three days running around $5.25. Today, however, it opened higher and then began to drift downward. Looking at the charts, I decided the picture was not promising: the ADX line had drifted below the threshhold of 20, buying pressure was falling off (declining green +DI line), and average daily volume has been falling steadily since August.

I chose to sell for just 3¢ per share gain, just enough to cover my trading costs. A wash.