I started a pos. @ $.92 and you're right about it being a long term play. It's the only long play I have right now. Will hold for about a year and see if there's any growth in Oleptro sales. 10% market share, which is a lot considering they're up against BP, would be over a billion dollars. Still a really speculative play on earnings potential, but could be a safe long term asset based on their cash pos. The only risk that I can see is delisting, but that's assuming it never goes over $1 and they don't try to resolve the possibility of the matter in the future.
That's a good strategy. I try not to stay too focused on one stock for too long. Although, I did go all in on ARNA for July. There's a lot of great plays out there and I think it's all about timing among many other factors. I'll get back into OREX soon, but not sure how much I want to risk for a run up only. Good luck.
and as far as DDSS goes it looks like the bottoms .90 where it seems to find lots of buyers.
This one seems really undervauled but am not interested in this one... most canadian bio companies always trade at a discount but considering its trading at cash value it would be a decent pickup at these prices. The only reason why am not buying is because I don't want to go Long on DDSS
Many selling riskier names as there is a latent flight to quality. Big money made last couple of months in bonds. We could get a reprive if the housing numbers come in better than expected in 20 minutes. But I wouldn't hold my breathe.
I don't trust Chinese companies after the mess with FUQI. Sold 90% of my positions at a loss this morning. Will look for a rebound next month. There's one company I'm interested in, but have no pos. yet. They have more cash than their market value and just lauched their 2nd drug product. I'll tell you about that one when I jump in.
Good luck. I will just keep adding and when it takes off, I will be ready. Hard to jump on this one when it shoots up. Almost $20K at $4.88.
The pumping on ARNA will start soon.
SAN DIEGO, June 2, 2010 /PRNewswire-FirstCall/ -- Arena Pharmaceuticals, Inc. (Nasdaq:ARNA - News) announced today that the US Food and Drug Administration (FDA) has notified the company of the tentative scheduling of an Endocrinologic and Metabolic Drugs Advisory Committee meeting on September 16, 2010, for the review of the lorcaserin New Drug Application (NDA).