Looks like today is another day where Nasdaq is up but biotech stocks are down.
Again, I am not worried about this at all. If this happens during the summer time, then I will worry because this would mean the sector would probably be down for the rest of year.
I think XOMA will be up next week, but may not get to 20, more like 16 to 18. If BLA is filed as Bloomberg said it would in April, we may see a pup to 25 or so. But I am not an expert on predicting prices, so don't take my words seriously.
As for CR, my feeling is it will keep as 3 level for the next couple of weeks, and start running up toward the NASPE meeting. I am long this, and I don't care if it keeps at that level for the time being.
There is a stock you might want to take a look at, BMED. It's small, and trading pretty volatile recently. I have put it on my radar screen. I am definitely learning the lesson for letting HYSQ escape from me last year. It was trading very volatile back in September last year at 2 - 4 level. I shyed away from it because of the volatility, and hence lost the oppotunity.
Put scln on your radar screen, too. I haven't seen anyone else mention it, but they got orphan drug status from the fda this week on a drug for liver cancer. It is already being used in other countries for hepititus b&c with no safety issues. I have held Xoma for three years. This is not spam, I just want everyone to look at it because it looks so great.
THe action so far today, and perhaps the next few weeks is nothing more than the "big boys" trying to panic people into selling there shares so they can suck them up after FDA approval (hopefully). Hang in there, we're getting ready for BLAST OFF.
today was definitely a conspiracy of the big boys (MMs) screwing their clients and keeping the price of xoma down. Their is a meeting of these people somewhere in Europe where they will plan the next stage of the conspiracy. Nonetheless, I expect the stock to open at 20 Saturday morning, hit about 55 by noon and close Sunday at 4:30 around 17.5