Congratulations to all CRIS longs -- this is a transformational day in the life of this company, and we now collectively have a solid floor from which to continue to run higher!
One of the ironies is that I posted just before 11AM EST as CRIS was just starting to turn green and was occupied in a 2+ hour meeting, missing all of the ups and downs!
I'd like to make one more comment on today's price action. I made this statement about a week ago "From the last two ABC patterns, in which the trough to peak rise was $3+, I get a near-term price target of $5.72-$5.91 for a thrust which replicates the prior ones." We reached $5.65 (7 cents short) of this range to complete the ABC formation, and today we have already done a 35% retracement of this level as we dipped to $4.62 at one point. Almost perfect Fib!
Relax, longs, enjoy the news -- and celebrate! This is just the start ...
ACE - I always read your comments and Desert D. and totally buy in to your views - My ??? is what happens next - if it got to $7 would it continue to gradually go up based on sales OR does it float along until the next drug goes on line OR would Roche try and buy Curis at a relative low price based on the pipeline at say $25!
"transformational" is the right word. company has never been in such a good position, truly making the move to commercialization after well more than a decade of ups and downs. anyone know what the market cap was when the share price was in the high 20's in 2000?
Congrats Ace, I know you believe as I do that today is the start of a long term uptrend and the forming of a very solid base. To me, it takes away all of the downside risk.
The funny thing is this weekend I was thinking about what I needed to do to protect my downside in case of a bad FDA decision and I came up with the idea of buying some March puts which I did this morning for a portion of my holdings at $.60. I planned on buying more in the coming days and weeks. I held those puts for about an hour because right after I bought them I noticed the spike up and then it took that round trip back down so I sold them at $.60 only losing my commission. I guess I should have held a little longer as I could have actually made a small profit on them but I really think there is no way we are close to $5 come mid March. I can't believe we are under $5 right now but with so many shares acquired in the $1 and $2 range there are probably many who are taking profits now. In the coming days and weeks I fully expect new highs and for us to finally exceed my first purchase price of $6.27 back in 2004. GLTA and today was great news!!