It looks to me that the last week has been a very good test of the 200 day moving average. At the low point I think it was breached intra day, but since then there has been a big bounce. The downward pressures were obviously aided by the bad ARIA news, which drag a number of names down.
With the coming presentations at ASH, which looks to be pretty good per the abstracts and the good quarterly report I would expect we test new highs at some point in the coming months. However, I'm not a market timer, having been long here for around six years.
While reading through SGen's ASH abstracts and the 10-Q, I got very excited about SGen. They had the good sense to discontinue development of SGN-75, for which investors seem to have punished them. Thank you, investors, as I feel fortunate to have bought at a good price ... and I don't plan to sell anytime soon. SGen appears to be much more than a one trick pony. Some of their collaborations are bound to become very lucrative. Their ADC competitors seem to have bigger problems than SGen.
The thing that originally attracted me to this stock years ago and since is that it is a biotech that get's their research for there own drugs paid for by milestone payments from the people using the technology for their own drugs (which will yield royalties if ever approved by fda). There has been no dilution for several years, as the milestones and now revenues from sales have funded R&D.