I purchased shares on Friday (18.4) and purchased the Feb 17.5 puts (.4) for insurance. I am not good at picking stocks. I am very good at finding stocks that have a very good risk reward ratio that favor the reward side. ELN (in at 13 sold at 26 in 2 years) , OSIP (in at 26 sold at in 47 2 years), MNTA at 5, VPHM at 8 and ETFC at 3.5 to name a few. I am also not good at picking a bottom. All of the above went lower after I purchased so I provided the weighted average. While I trade stock, I am mainly an investor. Do I have my share of losers...BRLC (3.5), SUPG (4) and c (29)... to name a few current. Worldcom was my bust going from 4 to worthless.... but other then the fraud of worldcom, the upside on my winners are twice the downside on my losers over the longer term.
VRTX has a healthy pipeline and a partnership philosophy. This is what I like to see in a biotech company. They have a dark cloud over them... this is what provides the high reward when (if) the cloud starts to go away.
VRTX is down over 25% this year. With an earnings announcement/conference on Monday followed by the conference on Tuesday, VRTX management has a chance to clear up some of the cloud. The old tell them and then tell then what you told them story. If they can clear up some of the cloud, the bottom is behind us. If the market doesn't hear what it wants to at these two sessions, the market is in overreact mode right now so it could go down a lot (reason for puts). If it does, this overreaction will be a bottom. In any case, imo, last week provided me a good entry point. If it drops a lot this week, it will provide a good average down point.
as a trader I short stock. I do not think this is a good stock to short. I just don't see the risk reward. If you are short the stock I wish you no ill will nor good luck.
We are all just trying to increase our financial worth.
Good luck longs.
Funding is in place and the cloud is starting to clear. As posted by someone, a director purchased 20K shares. Not a bad vote in favor of the stock.
If the market tanks VRTX may follow suit so I am not sure this week will define the low. I am sure his week will define the low because of vrtx related news. 3k shares for me and 1.5K for each of my kids education account. This is an investment.
BTW, the notes were of special interest to me. I mentioned my investment in OSIP. The turning point in that stock was when they issued notes redeemable for stock by a certain timeframe.
I have no crystal ball or chicken bones but I believe this will become another long term winner.
I give shanghai a 1/10. None of his "inside" info was correct. No delay in Phase 3, no toxic side effects, he hasn't been right in anything other than the stock declining. A blind mouse he is, nothing more, who found a piece of cheese by accident.
Let's see where the blind mouse is in a year or two when this stock rebounds.
Where are those VRTX's stock promoters? They have been trying very hard to suck the public's money in order to take advantage on their stock options/purchase plans. For those share holders who had lost 50% of their stock value since last summer, should consider to hire a law firm and discuss the possibility of filing a class action lae suit for security fraud manipulated by the Bogers/Alam/Smith.