you sold today and will buy back on a deep red market day sometime in the next few days, sure there is a chance that Kerx will come out with some major announcement tomorrow and you may miss it, but 90% of the time this is right strategy...again, upgrades don't move stock to new highs, only news from the company does
today will be good test for short term strength of this stock, I still think it will close at $8 tomorrow so options expire worthless, it did this for the past two months, perhaps buying at $8 tomorrow will be good idea unless it dips sub 8 today...well, let's watch the action today before coming to the final conclusion
gasp ive traded two rounds and just under 10 grand profit since april uncle sam will slap me yeah that sux but fact is its been a great trading stock a push to 7 is inevitable again so there is time so your posts have merit understand your audience here
Are you serious? This is not a strong Bio-tech strategy at all... Most of us are only taking on the incredible risk associated with the volatile nature of Bio-tech investing because we feel its worth the reward once our stock pops!
We choose our stock wisely, then purchase a position, then hold until the catalyst event occurs we have been waiting for. Then we unload on news and reap the rewards!
Knowing that this particular stock could trade anywhere from 13 - 20 after the next big press release, why would you even worry about "buying in at $7.50 instead of $8.00? I mean not if there is a slight chance you could miss the big pop, the whole reason you took the risk in this stock in the first place! Don't do it man! If you have these shares, hold on to them. Keryx is going up!
I personally only hold Call options, and when you are an option trader in bio-technology the strategy I use is even more profound. Do not get worked up on the short term movements. Let the day traders and Computer systems battle amongst themselves. Get in your position, hold tight with balls of steel until the press release, then ride the wave and sell!
I believe anyone would consider this to be a "deep red market day"--with the DOW down over 200 and the Nasdaq down over 1%. If the market wasn't so bad today Keryx would have been up over $1.00. I think the market caused a lot of potential buyers to put their orders on hold for the day and that money will be put into Keryx over the next couple of days keeping the stock up and even pushing it higher. You were right this morning when you said there would be a lot of selling pressure----but it was in the broad market----AND NOT IN KERYX. Why didn't you just cover when the stock was down in the upper $6's? I added over 4000 shares under $7 and am very glad I did.
Sentiment: Strong Buy
Problem is you are only providing half of the answer and making it sounds so simple. Sure, sell today and take a profit. When do you buy back in? Answer both side of the strategy, then there would be true value in your post.
Unless, upgrade news causes the stock to rise then some sort of catalyst new comes out, then the shorts are scrambling to cover and the stock rockets outta your range. Meanwhile, I'm sitting on 7500 shares at an average price of $3.50 ps. No thanks on your market timing. Not many people can do it and those that say they can are lying to you or just got lucky a couple of times and think that they are an expert..