Kyle Dennis says that an upcoming Phase II data release in early November on OncoSec Medical Inc. (ONCS) has the company poised for a strong run over the next few weeks. With news on the horizon, Dennis thought the stock could nearly double in value in the next few weeks; with 5,000 shares in the stock purchased at $1.04, Dennis felt he would take half of his position off the table at $1.50 per share, selling the rest as it approaches $2, but he set tight stops to guard against any bad news or rumors that could disrupt the stock before the catalyst event.
Kyle Dennis is an events-based trader who runs Kyle Dennis’ Biotech Breakouts (biotechbreakouts.com). He had 5,000 shares in ONCS when this interview was recorded on Oct. 11 and was planning to trade them as described in this conversation. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.