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Medivation, Inc. Message Board

  • tonkybonk tonkybonk Mar 1, 2013 12:55 PM Flag

    Durango and Bear on a non-stop losing streak

    Down another 7%, must be that big ER beat they keep talking about. Got Bags? LOL

    Sentiment: Strong Sell

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    • Appreciate your concern. Actually, my stakes in CLDX, CELG and GILD more than made up for my losses in MDVN yesterday. I had added to my MDVN position at 47.2 Thursday on the unsuccesful Cowen & Co. bear raid. (opened at 49, pushed down below 47, rebounded to close at 49.) I would say that Cowen and Co. paid dearly to bail their traders out yesterday. I only regret that I suppressed the impulse to add more when they took out the buyer's stops at 45. Actually, I lightened up a little at 46.2. And I may lighten up a little more Monday. I would guess that Cowen will let it pop a little at the open and then atack it once again. Let The Big Dog hunt. Unless a bigger dog comes along with an upgrade. As I'm sure some here have noticed, those cheap 45 puts actually got cheaper yesterday as those who were betting on the stock nosediving apparently lost heart. Those who were actually short - not too many, I'd guess, from the weak early covering rally - got a free gift from Cowen.

62.29-0.26(-0.42%)2:40 PMEDT