First of all, relax. The news was good and some of the risk has been removed from the stock. However, we all knew this weeks ago. The shorts knew it too. If I were short the stock, I wouldn't have bailed out on yesterday's news. In fact, if the stock had gone over 20 today, I would have bailed out of my holdings and considered shorting the stock myself. There is clear value in this company but at this stage, it's still a young pup with a market cap of 412 MM. That's not cheap when you weigh in the risk still in this company. So in the meantime, my ISIP holdings sit in my account and I add to them on dips or on after news like yesterday. The shorts will be there until the FDA starts approving ISIP's products. It is then that you may see the price of this stock take off. The fact that a company says the Phase III trials went well will never cause the shorts to bail. If you're holding this stock for the short squeeze, your holding it for the wrong reasons. Hide this stock somewhere in your portfolio, hopefully with a few other carefully chosen biotechs, and revisit it once or twice a year. While the short term will look volitile, the upward trend should continue for a while followed by a wonderful explosion to the upside in a couple of years. Sorry if I sound like your father, but he was probably right all those times. Until we meet in the Riviera after the year 2000, post well and often. Adieu.
I agree that ISIP is a stock to put away for a few years. I keep a permanent position, and trade a little now and then. In ten years who knows? If you just want fast trades there are better stocks for that purpose. GO LONG ISIP