QLT Inc. (QLTI)

Company

"QLT is a global biopharmaceutical company specializing in developing treatments for cancer, eye diseases and dermatological and urological conditions. We have combined our expertise in the discovery, development, commercialization and manufacture of innovative drug therapies with our unique technology platforms to create highly successful products such as Visudyne® and Eligard®." (company website)

Buy

20-Mar-06. My previous lot of QLTI is up 10% so I decided to add to my position. QLTI closed above the 200-day moving average last week (although it is pulling back again – argh!).

• Price momentum (PPO) — strong
• Trend (ADX) — strong
• Money flow (CMF) — strongly positive
• Relative strength (RSI) — weakened a bit, but still neutral
• Volume — jump last week was on heavy volume

QLTI is a bit oversold (StochRSI) right now, and I perhaps jumped in with this buy a little prematurely, but this pullback seems to have stopped at the previous peak around $7.50. Should be interesting.

Sell

22-May-06. The market has been really unsettled lately, and I've watched the value of my portfolio fall. When things turned sour again this morning, I sold everything off and will take a time-out.

Last Friday QLTI looked to be recovering, but at the time I sold this morning, it had given up almost all of Friday's gains. It is still below the 50-day moving average.