Encysive Pharmaceuticals (ENCY)

Company. Encysive is a "pharmaceutical company that discovers, develops and commercializes small molecule drugs aimed at cardiovascular and inflammatory diseases." (company website)

Buy. ENCY crossed the $5 threshhold on a Monday in early September, having reached as low as $4.30 the Friday before. After it remained at this level a few days, I bought, expecting it might pull back slightly, which it did. After opening lower the following Tuesday, ENCY began to climb, and within four weeks had broken $7.00.

After the expected pullback, all the way back to $5.85, ENCY once again approached the $7 level, but failed to close much above $6.50.

Sell. When ENCY opened lower again today and began to drift still lower, I decided it was time to take my profits, which in this case is still slightly over $1 per share.

Although the ADX line is falling (weakening strength of trend), the Chaikin oscillator is rising again, holding out the promise of further gains. Nevertheless, with so many of my holdings in negative territory due to the general pullback this month, I'm quite happy to take my gains to the bank.