Joel Kruger suggests this interesting Equities in his section Equities of interest :
Affymax, Inc. (NASD: AFFY)
Not a big fan of this sector in general given how often stock prices can be overinflated on hopes and dreams. But with that overinflation also comes volatility and with that volatility comes opportunity. In this case the opportunity would be to look to fade the latest rally, with the market now tracking well into overbought territory. Since gaining approval for its anemia drug in March, the moves have pretty much been one way, but at this point, with technical studies so stretched, and all of the good news priced in, we could soon see a very healthy corrective pullback. Look for any additional rallies to be well capped below $28 on a daily close basis, with plenty of room in the cards for a bearish reversal towards the $20-22 area over the coming days.
