At this point, I have nothing to worry about at the lower prices. I have $10 put protection. I am in a wait and see at the moment. I may lose money at the margins, but for the most part I believe I'm protected. It's the first time I used puts to protect my position, so I may be in for a surprise, but I dont think so. If I am wrong on my puts, can someone correct me. It's my first time using them for protection. I've only traded options in the past.
Here is my summary...
1. Good Earnings = > $1 I think they said and growing nicely! This counts a lot. 2. Floor will be higher than the $2 & $3 everyone was predicting. 3. When a stock doesn't act as expected, like drop to $2 like everyone was expecting, there is usually a reason. 4. Except for the poor moron who sold at $5.90 on Fri, the floor i believe is in at the $7 range. 5. AH friday was the most scary time of all after the bad panel review. The stock only went down < $3. That was good I thought for such a bad panel. There is a reason for this, I don't know what that is, but I watched stocks trade for a long time and when they don't do what you'd expect, then there is a good reason for it. 6. The scare will ease a little by Monday and we may even see the $8 range I think. 7. I'm sure the CEO will say something good in the PRess Conference Monday morning. I'm certain his message won't be "we give up, you win FDA. We will liquidate."
So I don't think its as bad as everyone imagined. It's not good, but not bad. I hope the CEO says something good Monday.
Here's my outside chance prediction...We actually trade higher monday. For some reason, I think we may not know something happening in the background. There's always hope...Who knows.
Holding and buying more next week to dollar cost average now. Still have a decent pipeline too along with being a cash positive company that is growing. I don't think many are even aware of the small yet promising pipeline. Plus, I do feel JAZZ may even be gone by next year. Profitable biotech companies always up for sale.
The stock did better than thought in AH trading. I agree with the previous post that this is a profitable company with good signs of growth ahead. I will add to my positions on Monday at this $7 to $7.50 range. BUY