Been watching the trading for the past few days, without a position. I've noticed for yesterday and today huge sized lots on the bid in excess of 15k-25k-35k just sitting there waiting to be filled. I'm gonna come right out and say GENT is setting itself up for a continuation of it's recent run. No, I'm not pumping so I could care less what you think. I'm only stating my opinion based of facts and my 10-11 years of trading experience. Mark this post and we'll see if I'm right in the next couple days, I'll either look like a hero or a zero..LOL.
Anyone have thoughts on this? Anyone else been watching level II over the past few days?
Oh, by the way...I took a position today 12500 shares at 3.59
Thanks for the warning. I covered with a small profit and will wait to see how high it goes to short again. Even with a seven fold increase in sales next year it doesn't look like they can make a profit.
You obviously don't know how to trade/buy biotech stocks...Your shorting GENT on the assumption that the stock shouldn't be as high as it is because they won't make a profit this year?? You don't buy Bio stocks for the profits like you would say an Apple or Intel. That's not how it works..Bio stocks trade on their pipelines and getting drugs to market, which they then sell to another company....you really can't be that naive can you?
Perhaps you should trade a different industry?
Shorting low float stock such as GENT isn't the smartest thing to do, even if they do happen to run up 20%-50% in a day...they always seem to have a way of sticking it to shorts and propel higher on momentum...But...whatever dude...to each his own. Good luck with that short
I sold my entire position at 4.20 last week.......took a position again today at 3.72; so you did better than I did. I'm also obviously expecting a resumption...you just did a better job of picking the bottom. I'll load up further if it drops from here.