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Astex Pharmaceuticals, AŞ Message Board

  • roryrae roryrae Apr 10, 2008 12:28 PM Flag

    Have anyone been buying except me....

    I bought about 1200 shares yesterday at $2.73. By the look at the tape and price action, I think I paid to much for yesterday's stock price. Anyone care to comments on recent moving of price ?

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    • FREE: Thanks for checking that out. I was hoping it had something to do with SUPG. I appreciate the time you spent on it.

    • lltinvest,

      I believe this is what you were talkin g about about a drug that protected cells from is link:

    • MP470 looks promising and I hope it will get the attention of some partners. BTW...did anyone see that blip on the FOX newsticker about a drug or study claiming something about a medication that could repair radiation damage? I hope it had to do with SUPG. I stuck around for a few minutes hoping to catch it again but was late for a meeting and had to leave. Have a great weekend.

    • I added to my position right at the close on Friday just in case something big happens at AACR. I'm not expecting anything, but at these prices its tough to go wrong. Again, the EISAI people aren't stupid, SUPG has a very promising future.

      It may take a while, but in a year or two we will be kicking ourselves for not buying more at these prices.

    • I wouldn't be surprise on Mon/Tues/Wed we have a spike in price w/news being on the positive side. And that alright w/me since I'm holding more shares. You can never catch the bottom and I'm just happy I was able to buy back shares at a 2 for 1 special. I sold awhile back at $4.88 to $6.78 for myself and $7 for my son. However this may take sometimes...and I'm still cautious holding money on the sidelines just in case it goes below $2.
      The stock market sucks and I think we'll go down from here(market and supg).

    • businesspower Apr 11, 2008 10:29 PM Flag

      If the prices would not start moving up with large daily volumes (around 1M daily), then it should be an opportunity to by more shares around $2.35, if not below. At that point - lets wait for the next round of news.

      But if the prices would start moving up with very large volumes, then why not to buy more (even if at higher and increasing prices): if the price so surely moves up, it is all instant profit.

      I am concerned that simply "good news" might not be enough to move pps up in high volume. The overall market sentiment should be cooperative. And many other factors should work together to help.

      Lets see how Monday will behave.

    • businesspower Apr 11, 2008 10:16 PM Flag

      I agree with your thought process. In fact, I was doing pretty much very similar with my few thousands of shares, including selling calls.

      The issue is that now pps is marginally under $2.5. If good news would come in and market reacts to them aggressively positive, then the price would move above $2.5 by Friday. This would force option assignment of $2.5 strike, thus limiting the upside.

      But if these events would not happen (the news are not as good, or market doesn't get very excited about whatever good news are), then it is reasonable to let $2.5 calls expire for the front month.

      What I noticed today is that large volumes of calls were purchased for $2.5 for the 2 front months. I would guess those were not purchases of new options (openings), but buy-backs of earlier sold contracts (closings).

    • I was just yanking your chain about buying now as opposed to Monday. I completely agree with your stance.

      I also like the way you put it. If you can avoid losing money, you are half way toward making money.

      <<But if the news are not that great, or the market have no significantly convincing reaction to the good news, I don't need to buy today, because I should be able to buy at a lower price after Monday (I like my buying price target of $2.35 - $2.40).>>

      Now I know I have been in this stock too long. I almost expect that the positive news will not have an affect on the share price.

    • bringing down my cost for those shares in at $1.95, $2.00, and $1.90(17,000shares or 170 calls)
      these are my break even points on the downside.

    • I don't need to buy today, because I should be able to buy at a lower price after Monday (I like my buying price target of $2.35 - $2.40).

      There was also another way of playing this...after the excessive buying over 4 million shares a few week ago, it needed to work off some steam. Bought a ton at $2.30-$2.40 however as the price was going up, I started to sell the calls from .35 to .55, bringing down my cost for those shares in at $1.95, $2.00, and $1.90(17,000shares or 170 calls) Remember, I do own more shares. Also bought shares the past 2 days but sold the call on them. Now that the shares is below the $2.50 mark, I started to buy additional shares to find out how bad they want me out by taking it further down or hitting a downward resistance. We'll get a much clearer picture on Monday.
      I also did similar trades w/vlo,gm, and c making sure I net a profit.

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