I sold a nice chunk of my position as I believe that volume does not confirm price action and I am expecting lower prices once the market starts correcting after July 4.
I hope to be back by the end of summer...I lost a nice amount of money but chances are that we will see lower prices later....no it does not make sense fundamentally but I think we will see lower prices technically.
I just wanted to preserve capital which eventually should be a basic goal (other than making a nice return) :)
good luck to all...
chance of success is still present still a better bet than allovectin but still somewhat risky because of antigen frequency dropoff i literally cannot wait to see what the data readout and perhaps load to the max
Its good to see the shorts coming back! Board was too quiet the past week...welcome back short boys! Good to see that you getting worried about having to cover during a short squeeze! Good sign we are moving in the right direction :)
This "slide" has just begun, its probably very smart to dump as much, as soon as soon as possible. Now that the "true picture" has come into focus and all can separate the hype of the statisticians from the reality there is a steady progression to the fair value. Fair value for a P2 cancer vaccine trial with a 6 month survival in this case is around $1 to $1.25 pps. Lots of time and money to run the P3, also dont forget the other trials which will eat up capital. Best bet is to just come back mid P3 in 18 months if you really think 6 months will translate to the P3 as well. Price then should be on the low end of $1 scale.
I won't hang the "basher" label on you, what you did is only prudent and says nothing about your belief in the company. I sold a big chunk just after the interim announcement. I have to add a caveat though; I don't think we'll have to wait until the end of the summer for the price to turn, and in the meantime there will be news about the other trials and various PR's. Volatility will reign, and money can be made buying on the dips, the pps was 10¢ lower 3 days ago...