It is interesting that Peter Navarro had an update yesterday on CYTK which in part said: ". . . I sold all my position at $12 and now will simply watch and wait to see what happens to the stock. I think it will have a hard time moving over $12 for a good while ($2 at the old price) . . ." Wonder what his thoughts are this morning given the move so far today.
I agree with Navarro, and sold my stake in 12s
Bought 1000 Friday, sold it today for nice profit. Could have gotten more if I waited till this afternoon, but it's so overbought, I'm nervous.
I'll load up on retracement.
Just researched him...nothing special there..he's a market-timer. As far as individual stock positions, he's got the same problem as Dctrig and I'm not going over that again except to say by his own comments he was out at $2...is that all you ever thought CYTK is was a two dollar stock pre-split? Notable people can be wrong just like non-notables.
I think he'd be the first to admit that... I think my previous post got removed because I listed his website lol. I think there is a lot of long term value in this stock, but also an opportunity to make some money short term with its volatility. For those who missed my removed post, the quote above is from PN's newsletter.