I just took a long term position in ZIOPHARM Oncology, $ZIOP. I had my eye on this last week and missed the big move up yesterday. Luckily I think this pull back today will serve as a decent entry spot to start a long term position.
The chart bears a similar look to another long term position that has been a monster for me: $VIPS.
Compare $VIPS and $ZIOP here:
I can’t ignore the massive volume on that up move yesterday. I am using this sell off (short term profit taking) as an opportunity to get a long term position started here. I like the chart and the prospects of the company overall.
OC