Sometime in Dec 2011 I was in a little company call INHIBITEX at $11 and recommended that my followers buy it.
A Merrill Lynch analyst came out and publicly said that ...anyone holding INHX stock had a very good chance of losing 80% or so of their investment. Man, was I #$%$ because here I sat with a bunch of shares and stock and now I was going under water (on this abrupt negative comment). Dips or flushes can happen before a SURGE, especially in biotechs.
Well, anyway the stock drifted down to $9ish or so on a Friday afternoon. I said that I liked it and held on. My followers were following my lead despite the Merrill comments.
The next day I was home and late Saturday evening came some news....I mean it was like out of nowhere....
The headlines read: Bristol-Myers Buyout of Inhibitex for $2.5 billion or $26 per share.
I had a "conviction" play and couldn't believe the crooked comments just a few days prior to scare retail investors out, but it happened.
Slowly but surely, I have been seeing similar situations to expose the real BS that happens like my example of INHX.....
I believe I rolled that cash into VVUS at $7...it went to $10...was told be anybody and everybody that its obesity drug would not get approved. I said I was holding. Woke up and BANG...it was $20, up 100% then went to $30 and I eventually cashed out when it didnt hold up.
I believe I went into QCOR at $20 and also wrote a reversal article on SA. Go See.... Nov 2012. My profile is attached on SA too or visit my website, since I am rarely on YMB (full of trash posters, really)#$%$ of the earth types) (you know).
Lastly, biotechs are risky business and no one is 100% so please know your individual risk preferences, stay diversified and watch for the NOISE. This is not the only stock that I cover and more stocks are setting up for September.