I think it was Rays, previously mentioned our flight to $21+ was very fast. I tend to agree and think this may take a well deserved break into the $18-$19 range before heading higher again. Just a guess here, no reason other than some folks will take their profits. I also think the market is ahead of itself at the moment and see a little DJIA correction of 3% or so in the works, down to the 15,000 point area. Silver is heading higher and that signals a little bit of a bull market coming. BTW, I made a nice chunk of change in SLW a couple of years ago, bought it in the $10-$11 range before it skyrocketed to close to $50. Keep an eye on that one to rebound to the $40 range, now at $23.
This is just my opinion. All know that I am a big bull on CLDX. Basically the whole biotech sector has taken a little hit after big moves higher. I think any pull backs in CLDX IS a buying opportunity. We haven't even had average volume on this down move. Stops could of been taken out dropping the price. Yes, profit takers come in. Shorts jump in. I think the last two days were great buying opportunities if your a long term investor. Not a trader. I think getting the chance to buy below 20 today was a good entry point for new buyers. We will see. Nothing has changed. Long has been great giving his prospective and I do trust his judgement. Buy and HOLD CLDX.
Breather? This is a butt kicking this morning after opening strongly. Add to the whoopin' experienced yesterday, this may be more than a "breather". Something does not bode well and perhaps it's just the sector as a whole.
After a day like this one it may seem as if you lend wise words to message board followers. Yet, counterpoints merit consideration as to the overall market direction you forecast, and your prognostication of a breather for this equity.
Have you forgotten the season of earnings we find ourselves located? Earnings will continue for the next several weeks. Although the breadth of the market could show greater strength, certainly no apparent reason for a correction exists. This 3 percent downward move in the market suggested may or may not apply to an equity such as this. Celldex has consistently defied market direction in the past, why will it drop into the $18-$19 range? That would essentially mean an 18.11% decline for Celldex from it's 52 week high. And that could happen. But does it appear likely? How can you make such a gross generalization?
Look at the positive attributes of this company.
It possesses quality leadership with a genuine pipeline of products which can make money in the future. Celldex also possesses a management team who can ethically steer this company in directions to enhance shareholder value. This company holds a market capitalization currently between 1.65 and 1.7 billion
dollars with roughly 80 million shares outstanding. Of those 80 million shares over 80% are either owned by insiders or major investment institutions. Look at the amount of money BlackRock has invested here. It's a substantial amount of capital from my perspective. And doesn't that company manage over 3 TRILLION DOLLARS? Why do you suppose these major mutual fund types want to come to this table?
Those folks are at this party to make bucks. Perhaps you're on to something eduardo. Not even the best equities defy gravity always. And even Michael Jordan got cut by his high school basketball coach. Some of the best picks I've ever made in the market required an 18.11% breather before they advanced again. Let's play ball!!!...isleepwell...
Sentiment: Strong Buy
CLDX moved to high to fast...All signs pointing out that some consolidation will take place. The support is $19. In long term stock trades on fundamentals, but in short term mostly on the momentum and market sentiment. Today we got upgrade with price target $34. And how the stock reacted? Went down with the market. Who cares? The real long term investor will make money and sell it at $35-$40 at some point in the future, the traders will suffer...
I can't find any reasonably priced bio at this point (maybe MACK), so it seems that the whole sector need to go thru some correction like it or not....
Sleep, Ed did not say sell, he gave an opinion about swift and recent advancement of a stock he holds, and suggested it may need, or should take a breather for a while, allowing a bit of consolidation. Actually, it looks like that has been taking place over the last 10 to 12 days already.
We will see if it continues.
The August open interest on the 22 strike calls tells me your calculations may possess a bit of windage. Have you ever heard of a book called, "The Wisdom of Crowds"?
Sentiment: Strong Buy