No reason for anyone with a modicum of sense to linger here. Have at it, loonies!
My inclination is to add cautiously, looking to double up, with 50% added by yearend,the other 50% in the first two weeks of 2014. The hopeful thing here is the growing numbers of shorts.
Your friends are no indication. Will definitely test 90's again tomorrow. If it moves up, I think it will be walked up slowly. I will continue to add cautiously.
The problem with Provenge - which obviously the market has figured out a long time ago - is that it is not a drug at all, but a custom-made vaccine which is very expensive to create and only marginally beneficial to a few.
On the other hand, if CC confirms what the tape is telling us .....? I don't know whether you have ever heard Auerbach and his team (virtually all of whom came over with him from Cougar, or Lynx, or whatever the previous company was), but they are impressive.
Close enough. But it will take a breather at some point. Enter, but enter cautiously. If this drug is everything we think it is, there's plenty of room on the upside.
PS Aren't you the poster who continually changes your id, but whose posts are always full of obscenities and fantasies of anal rape? With a little soupcon of anti-Semitism thrown in? Forget what I said. Double up here.
Get in line with the other victims. See if you can get this straight: This is a closely held stock. There is no mob of retail longs here hoping to make a couple of bucks. This is a stock which will ride up on the backs of ignorant shorts.
jgm, you are the voice of reason (and you know how far that will get you.) Anyway, thanks again for your presence here.
Given California tax laws, it makes sense to exercise options when they get into the money. I don't know what took him this long. There are plenty more where those came from.
God helps those who help themselves. Now we see the retail investors imagining all kinds of "They must know something." scenarios. After all, why aren't the professionals snapping this up here?
Probably because they know there is no immediate need to do so. However, when the trial results are released in January and the FDA rules on or before the PDUFA date in February, that will change. I don't put a lot of stock in analyst recommendations and price targets. I note that the UBS analyst, after downgrading CELG last September, when it was at 75, upgraded it on Dec 5, when it was at 165. Not too helpful. Trust your own judgment, but position yourself according to what the tape is telling you. I added a couple of hundred shares today at an average price of 102.20. I had other orders in place below 100 which didn't fill. I think that 90% of the trading in this market is phony - just passing shares back and forth; it's fascinating how a real buy order can shift the momentum. They will sell the stock to themselves at 98.80, but not to me. Not because they're afraid of my puny orders, but because when they see a 500 share order at a certain price, they worry that their buddies have stopped collaborating.
max, these are the times that try men's souls.( My equanimity at this point is bolstered by owning a chunk of PBYI.) But in order to sell out of this position totally here, you have to believe "They know something which I don't." I don't believe that. My maxim, though, is "When something really good or really bad seems to be happening, sell half." I sold out of my underwater shares a couple of days ago in my taxable accounts, keeping my old shares. I sold all but 500 of the shares in my IRA, but am now adding back shares cautiously, which I didn't expect to do until next year.
In order to take profits at this point, you should have some losses to offset them, which, unless you are a really bad investor (long/short hedge funds?), would be hard in market which is up 24% for the year. Also, one would expect a little window dressing to lift these stocks about now.
At this point, GILD has rebounded one dollar and CELG has recovered 1.70. Let's hope that this is a precursor for PCYC.
One thing we can be sure of, as the posts here demonstrate: a lot of retail investors are selling out their stakes here, and those shares are passing into other, presumably less nervous, hands.
I don't know - the definitive drug for MCL, Waldenstrom's and CLL vs a potential drug for short bowel disease. (although I own some NSPS) Your "not below 100" stance suggests that some stops will get taken out there. I have some modest buy orders in under 100.