I waited all week to add, but it kept hanging around 40. I thought I was being moi intelligente low balling a limit order this morning at 39.25 that came in. Next thing you know, this BS PR from GSK hits and back in soup we go.
Man, we just got to hang. Big fiesta coming, like Cinco de Mayo.
We're at $38.00 on some overblown news from Prosensa after blipping above 40 earlier today. Gee, it must be Thursday. Doesn't affect AA. Might open the door for some treatment options for some VERY sick kids. The stock won't hold above $40.00 anyway, until after the Russell 2000 re-balance tomorrow; the Market Makers won't let it. At the VERY worst this has taken a little short fuel out of the fire for a July run, and not much at that.
People keep saying they believe in the science and "it's all about the kids" all the way up to the point where there's the smallest bump in the road at which point they run around in tight little circles whining about a momentary dip in the stock price. You want closure? Sell, and get over it. Otherwise, quit your belly-achin'.
Seems like the FDA is doing some CYA before giving the go ahead. That was my read on the AA guidelines they just released, and now with this concession to GSK, it seems like they're trying to show some fairness before giving SRPT a big jump on their "competitor." For that matter, asking for more data back in April seemed like a CYA move as well...they don't want to look like they're handing these AA things out like candy.
Like most of the drops we've experienced lately, this one seems pretty stupid. Then again, I bailed on half my position for a month when CG said more delays back in May. I figured we'd plummet again, but I was totally wrong.