Medarex (MEDX)

Company. Medarex "is a biopharmaceutical company developing monoclonal antibody-based therapeutics to fight cancer and other life-threatening and debilitating diseases." (company website)

Buy. I bought Medarex in mid-October after it had advanced smartly from around $6 on heavy volumes. Alas, after reaching a new high of $7.56 a few days later, MEDX began to bounce around, down and up — but not quite as high as it had been. Each time I was seduced into believing it was on the road to recovery, and delayed facing reality much too long.

Sell. Medarex stock appears to have benefited from the so-called "Santa Claus rally" at the end of December, and there is a glimmer of hope in the indicators: The Chaikin oscillator is rising, and the +DI line (buying pressure) has crossed above the -DI line (selling pressure) again.

On the other hand, the average daily volume has been declining steadily ever since I bought MEDX. Price rises on low volume is not regarded as a hopeful sign.

In accordance with my new resolve to weed out the slackers from my portfolio, I decided that it was time to bail out of MEDX. Besides, I need the money to pay the tax bill for all the gains made last year!