while some may have covered by now, others have
come in seeing a short at 15 as a better deal than a
short at 10. Bottom line, they are always there just
like longs, and at each new price level some come out
while others are getting out. What I mean now is that
the technical picture is bullish enough that the
smart ones are going to wait for 18 or higher before
coming in. Its pretty clear we will get there so why not
get the better price (that is their reasoning). I
don't know when it will happen, but likely before the
end of the year, there is great momentum in this
stock right now, but nothing is guaranteed. For that
same reason, if the price dips below 13 between now
and year end (for some insane reason), I'd buy like
know it is only Monday; but I nominate Dinzley
for the Forbes/Herrara Moron of the week award. Not
for being a short or for believing that the stock
will drop to 9 ( not likely, but not impossible), but
for obviously not doing his homework and starting
with the statement that "the solution is simple"
...not this time - too much good news ahead. This
stock will never see $9 again, as I said this summer,
no matter how much we have a year from now we will
be kicking ourselves for not buying more under $10.
Prudential analyst seems to be referring to the IMID deal
that is upcoming. Street will love it - we are
currently sandwiched in between incredible announcements -
we just had the multiple myeloma results and ENMD
deal and ahead of us are probably announcements of at
least $3 million 4th qtr Thal sales, IMID deal, Celgro
deals, Crohns trial results that are so good they are
almost unbeleiveable, probably a few NEW strong buy
recommendations, and hopefully a trial that proves the chirally
pure Ritalin works in a time released version. Its
scary because ALL of these things appear to be
coming....but... if only HALF do come this stock is headed to $100
by Next Dec IMO. Now - imagine if ALL come in the
next 6 months. Sorry Dinzley - we never see $9 again -
$90 before $9 ...really!
Ready for the ride this
week? Seat belt fastened? The friday close was either a
BIG (single short positions) which seems unlikely in
such a thinner traded stock or institutions coming in.
I'm ready for a pull back to get a little more.
What's your take on that posiblity? Wish a few of my
others were up just a little to free up some cash.
The sol'n is simpler than you would like to
1)Short covering led to the initial rise (1.4 million
shares short. Short covering will general lead to the
rise prior to a news release.
national attention and also showed up on traders screens
do to %gain from #1 (good timing)
have been playing with the stock and keeping the
If you follow biotech's you know that
not much has been going on.
Volume will decrease,
shorters will come back, price will fall to $9, quickly!
>> Where did all these other longs come
from? just three weeks ago there were about 5 of us.
>>> Maybe they came over from the Entremed board. I
have owned ENMD for about six months and now I own
some Celgene too. Celgene has a cancer drug that they
can sell right now (thalidomide). It may or may not
be the best, but a revenue stream of some kind seems
like a good thing.
That's exactly why I bought
CELG recently. I bought it the day the deal was
announced. I owned ENMD for it's endostating potential of
course, but I also liked it for it's Thalidomide
potential. I still think Entremed is worth the risk, but
CELG has more short-term possibilities. So far it was
a good move. I see its revenues increasing
substantially once Thalidomide's results become more well
known. I wish I could afford to buy more!
Let me make clear that on the ritalin or IMIDs
deals, the Company has stated in each of the last
several investor calls that it is intensive discussions
on these - but this sort of deal requires very
complex negotiations and one or both may never happen.
The Company has also said that it expects peer
reviewed publications (which are very important to the
sales force's ability to market the drug) for both the
glioblastoma and multiple myeloma indications in the next 6
months, and for cancer wasting later in the year. I do
not expect that the Company will break out Dec. alone
but rather will report the entire quarter only. I
would think that $1.5 million for December alone is
very attainable. I think the heavy trading at the end
of Fri. may have been the start of short covering as
I would expect institutions buying to do so more
slowly. I do think that the institutions are buying
heavily now. May it and the short covering continue.