You have to learn how to identify a weak stock and put the "story" aside. For example, it was a "no-brainer" to buy a few S/T put contracts yesterday when the PPS tagged that $4.80 level (strong resistance). EXEL remains a broken stock. In fact, one of the worst performing stocks of the year when compared to its peers and the red-hot Biotech run-up that took place in 2012.
Hedge fund continues to control EXEL, as is evident by the posts on this board by all the different aliases (boiler room pumpers). Indeed, hedge fund has the inside track. My guess is all of the true long term "die-hard" holders of this stock who have yet to show any gains are hoping and praying for a buyout. A buyout that will never happen under the watch of Morrisey. What you "should" be hoping for is the ousting of Morrisey. That would send the PPS up by 25% or more and a change of trend will be seen. Until then, you'll be stuck in groundhog day. Just sayin'... :-)
ARQL looking REAL ripe here as it pounds its head against that gap resistance.
"You have to learn how to identify a weak stock and put the "story" aside." Just as you are really only interested in the chart on Arqule and don't really care about their prospects, I am only really interested in the story and don't really care about the chart. That's not too say that your trading philosophy will not work, just that it is not for me.
"EXEL remains a broken stock." I have to agree, its not getting much respect. But if I am right about Comet, then the tail will wag the dog and eventually the company will get the respect that the drug deserves.
"Some day I will talk about Howard Pien who was brought in to monetize Medarex and how that all turned out. I started buying MEDX at $12 and not unlike EXEL watched it go to $6. I held my nose and kept buying until the BMY takeover at $16. It was about a 2 1/2 year start to finish experience. After MEDX I fished around for a while and ended up here.
"ARQL looking REAL ripe here as it pounds its head against that gap resistance.' You may well make money on an ARQL trade, but I still don't like the prospects for the drug and so I have reservations about the company.
Sorry yer inclined to give me the thumbs down for my attempt at levity...
But I thought good news, insider buying, and solid future prospect were supposed to be positives for a stock's action. Someone's putting the thumbscrews to this poor baby...
Twist it down far enough & maybe we'll see some more insider buys...
Patience... year end tax strategies are creating some minor volatility, and if I may add, opportunity. Just repurchased stock sold last week. The 30 day wash sale rule sales of late November are now being repurchased, although I believe most shares are held in tax protected accounts, there will be considerably fewer shares for sale as the new year starts.