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Seattle Genetics Inc. Message Board

  • vixstox vixstox Jul 18, 2012 10:09 AM Flag

    Volume

    This stock is moving up on no volume. There is nothing for sale. I would hate to be short here. I think $30 on this move is easily achievable.

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    • Well I think that yes there is low volume on this push and the few holders I mean the mutual funds that are betting are trying to find others to join them and since mutual funds cannot go naked short on the stock the industry has been operating under the Investment Company Act of 1940, and some are allow to those in futures/commodities based. So most of the options open interest we are seeing is causing an increase in the option implied volatility which is extremely high so in this push for the stars according to the big players is a fools game just look back at volume looking back to June 14 the volume has been decreasing at the same rate the price has been increasing and the channel up indicates a bearish pattern.
      Now on the fundamental side I don't think that there is enough of a market to generate consistent sales for the drug and no private equity or etc. wants to buy when the stock is already past 30% increase. I’m already in the green with selling any OTM credit spread and thinking of closing my 25% gain I mad in 5 weeks. FYI remember that you do not want to get emotional about any stock as you see people buy on greed and sell on fear and to estimate that the stock is selling >20 times is profit is beyond me. I do think it’s a sound company with a good product but too high and I am too excited to sell to the next fool that wants to buy calls at $30, my predictions is that we will gap with in the next 45 days within the range of $20-$22.

    • IMHO, any potential acquirer could get nervous,and itchy, when observing this new leg up.

 
SGEN
42.62-1.39(-3.16%)Sep 2 3:59 PMEDT

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