It is widely reported that the President will ask Congress for a significant amount of $ for biotech research in his
upcoming State of the Union address. It is also reported that Congress will be receptive as there doesn't seem to be anyone opposed
to this. I'm not sure of the specifics as to who will be getting this windfall but the NIH has already given Geron research
grants and with the public interest from all this recent publicity, I wouldn't be suprised if Geron gets some of this pie. It would
be popular with the general public and our politicians know it. Don't forget the power of the AARP! Just something to ponder.
Could you please give me your e-mail , i liked very much your way of thinking and i wish to change some impresions with you. I am a private investor, living in Spain.
My e-mail is : email@example.com
Thank you very much. ovetus.
Thank you for your reply.
In my opinion you and your clients are on the correct side of
this issue. Hopefully there are profits for all, in any time
frame, from Intraday, Interday, Short Term to Long Term.
>Date: Jan 16 1998 1:53 P.M PST
>Only through Tuesday's session, then the media blitz will be
>digested. I'm looking for a peak around 15 1/2 to 16 to reshort
>it. I covered at 12 7/8 after we opened at 13 1/4 today,
>retreated and then saw short-covers driving it back inexorably
>towards 13. I only made 2 3/16 net on this trade, but this was
>only the first round.
It is good that you covered your short; took profits, no risk.
A lot of the short sellers on this board are being rather
bellicose about still being short. I wish them luck. I posted
here what appeared to me to be the short term bottom @12 7/8 on
Thur @7:32 AM PST. (See Messages #354 & #362). I once lost
122K in two days on a short which gapped up significantly at the
open when my broker called my short and covered. Since
then I have never held a short over a weekend, much less a long
weekend. The only shorts I have held in recent years for any
period of time were "short against the box" positions. - (1997
tax laws pretty much killed this play). The trader who carefully
manages his/her risk may win some today, lose some tommorrow,
but will most certainly be here with capital left to trade
The worst case scenario for a short seller with an uncovered
short position at this point in GERN:
The stock gaps up on the open Tues. to 20 or 25 with buy orders
for 2 or 3 million shares. Your broker calls and covers.
Don't think it can't happen. It has happened to me. I have
the trade confirmation framed and hanging on the wall of my
trading room. A "Short Squeeze" does not even begin to describe
this situation. Hopefully, in the interest of anyone with a
still uncovered short, this will not happen. BUT IT IS POSSIBLE
THAT IT MIGHT HAPPEN!! IT HAPPENED TO ME ON A STOCK WITH A FLOAT
OF 46 MILLION. GERN ONLY HAS A FLOAT OF 5-7 MILLION.
I don't know, the next top will be hard to call. I'm generally better at calling the bottoms than the tops anyway. The first
top and 180 reversal point to short was easy to determine - -
it practically jumped off the tick chart and screamed "Going
down, down, down". This stock is certainly going back up, how
far; who knows???? I shorted it from 16 1/2 to 12 7/8, covered
and then went long @12 7/8 with a stop at 11 1/2. I doubt I'll short it again, the long position I have now is free stock from
the short profits anyway, so I'll probably just let it ride for
the very long term (5 to 10 years).
I bought Amgen in Sept. 1986 for 1 1/2, and Merck in April and May of 1986 for 8 to 10 and I still hold some of those original
shares, split adjusted. Neither of these companies actually had
any products to sell at that time, to the best of my memory,
they both were pretty much research, ideas, hopes and prayers.
These two investments, however, have put two of my sons through
4 & 8 years of college, bought both of them new cars, and
recently a new house for the firstborn and his wife. So you
just never know with these biotech and drug startups.
The 20/20 coverage was pretty impressive, to me anyway.
This is significant only given the fact that I am just a dumb
ole country boy and too stupid to be impressed by much.
Going to wait a while and see where the price settles after all
the coverage and hype fades away, and at that point I just may
increase my long position 5 or 10 fold on any dips or weakness
and give the whole thing a very wide stop. After all, I have
grandchildren on the way.
Good Luck to You All in Your Trading & Investing
>> The stock appears to me to have formed a firm bottom around 12 1/2 to 12 7/8. Unless it breaks below short term support at these levels I would advise not shorting it for some time to come. Apparantly most of the potential movement is to the upside at this point. <<
Only through Tuesday's session, then the media blitz will be
digested. I'm looking for a peak around 15 1/2 to 16 to reshort
it. I covered at 12 7/8 after we opened at 13 1/4 today,
retreated and then saw short-covers driving it back inexorably
towards 13. I only made 2 3/16 net on this trade, but this was
only the first round.
I am glad you closed your short position with a profit and limited your risk and locked in your profits. The stock appears to me to have formed a firm bottom around 12 1/2 to 12 7/8. Unless it breaks below short term support at these levels I would advise not shorting it for some time to come. Apparantly most of the potential movement is to the upside at this point.
Have a good night on the town with some of your profits, which are now yours risk and worry free. Have one for me, too.
On your recomendation I covered my short at 12 3/4 yesterday
which has turned out to be good. I still think the stock will
fall significantly in the next few weeks but if this 20/20
show is as wonderful as everybody seems to believe there
could be another peek next week. I still think the stock is
much too high and will probably short it again then.
My problem with some of the comment posted is that some have concluded that there is NO POSSIBILITY. Research, by definition, takes into accout only a "possibility" of a discovery or an application. I totally agree with you.
I am delighted you have read the friggen paper. I hope you are correspondinly more learned.
And the tape is up. Should accelerate up at the close. Should open up "big time" on Tuesday morning.