Entry comments: There was an offer from other isreali pharma co. to buy senior managements shares for a 50% premium. The stock gapped 13% and ran to 1.45 I was patient on the play but all it could must was 1.25 on the retry of the high. Volume is up. The chart looks okay. Mybe we get 20 cents on monday.

Exit comments: Very Dissapointed. The market action was clearer than my understanding of what's going on the the offer. In fact what I was able to get hold of was exactly that. Very unclear with more than a hint of desperation to the company news. Chart patterns do not always resonate in general and specifically these bottom plays. The news has to be strong and the volume needs to come in.