Some Newbie on one of my biotechs whats shooting off his mouth about my bioinvest being only 4 months old and i couldn't possibly know nothing. He got schooled, but i got stuck going through 400 emials. who won in that? lol.
The stocks already getting priced for Armageddon. Its trading solely on technicals and ignoring valuation. I am certain that even a guide down or bad earnings will cause the stock to rally. Its all getting priced in ahead of time. I think $58 is where i can go and where i want to buy it before earnings. Apple could go bankrupt and SWKS would be worth more then its trading for now.
I am glad to hear your wife is OK. I did some buying so far this week. I went from 50% cash down to 30%. I am hoping all this chatter about another 10% correction happens. I actually want to buy companies i love cheaper. Go figure. SWKS got 6% cheaper today, but i think it can still hit $58 so i am still waiting.
Looking at the charts, We should still see $85 to $90. I know i have been impatient waiting lol. We are still in an ongoing 6 month downtrend for CELG. We have resistance at the support around $106 to $109 area. Everyone knows I love CELG, but price matters and why over pay when you don't have to. At $85 you get to 15x forward earnings. For a biotech that's incredible cheap. I have seen it before though. Back in the biotech wreck of spring of 2014, we got down to that low. I hate to be too bearish tough. I have set my buys 10% apart to include $99.31, $90.28, and $82.76.