Thanks, and sorry to all of you for what is obviously misleading and/or improper information.
It was drawn from an article titled "Celgene: An Absolute Excellent Company With An Absolute Terrible Valuation", which says in part "However, the company is currently trading at over 50X earnings and this will likely cause trouble for investors over the long haul".
For whatever it's worth, also this today on Investors Business Daily:
Baidu Stock Can't Clear This Key Technical Level
BY ED CARSON, INVESTOR'S BUSINESS DAILY
Baidu (NASDAQ:BIDU) is China's dominant search engine, but its stock has been stuck below its 50-day moving average.
The 50-day line can be a key area of support, where mutual funds and other big institutions step in to buy shares. But it can also be a technical resistance level.
Baidu shares peaked at 251.99 intraday on Nov. 13. Since that time, the stock has been in a downtrend, lagging the general market. Since early December, Baidu has struggled to get above the 50-day line, especially in the last two months. Baidu managed to peak above the downward-sloping line last week, but has fallen back down in the last three sessions, including a 1.1% drop to 205.44 on the stock market Thursday. Baidu fell 0.4% in early Friday trading.
Baidu also is now trading below its 200-day moving average, which can often serve as a last-ditch support area. The 200-day line recently rose above the 50-day, a bearish sign.
Baidu is spending heavily to add and monetize mobile users in China. That's weighed on profit growth. Then this week, Chinese media reported that a major private hospital union urged members to halt online advertising. Medical ads account for over 30% of Baidu's ad revenue. The hospital union could just be pushing back at Baidu's demand for contracts with guaranteed big hikes in spending.
God I wish that weren't true babatau124. I just moved a huge chunk of my investment money over to BIDU yesterday from biotech "sure thing" CELG because there were fears that a bubble was developing in that sector.
Worse -- as of Jan 1, I can no longer trade by myself at $7.50 a pop, because my wife's employer now insists that no family member trade with an independent outfit (in my case, Schwab) because of how they now interpret SEC compliance regulations.
Swell -- $1100 to jump in yesterday, another $1100 to jump back out early tomorrow.
Anyway, really appreciate the heads up on this. As the woman in the reggae movie The Harder They Come says, "Every game I play I lose".
Not in the strict sense -- as in "felt I had to", despite real reservations about doing so.
Put it in another (non biotech) equity which ended up down only 0.12%, so I count myself lucky. Still have plenty of CELG left though, so I'm hoping to ride this thing out.
That SPDR S&P Biotech ETF ended up down 5.43%, so today could have been far worse. Again -- good luck to everyone here.
Thanks. I'll stand by the other two points though. SPDR S&P Biotech ETF now down 5.2% (!) in just 3 hours of trading. That ain't pretty.
I'm still holding 1,100 shares of CELG, but am not thrilled with today thus far. In fairness, NASDAQ is not having a good day either, but not nearly as bad as we are.
Wishing good luck to everyone here. Hang in there...
...as of March 20? Not to mention that Biotech in general is getting hammered due to growing fears of a bubble (SPDR S&P Biotech)?
Slaughtered again today. Down from $128.50 on Friday's close to $119.40 as I type this. Down nearly 8% in 2 1/2 days of trading. That is indefensible.
I sold 2,100 shares earlier today at $122.5. Absolutely hated to, but had to. Sorry I didn't sell more.
Yes, in the long run this is a great stock. Keynes: "In the long run we're all dead".
"Is it Tech Sector to BioTech sector rotation?"
FWIW, BioTech in general was essentially flat in the final minutes, so it was definitely CELGspecific.
SPDR S&P Biotech ETF (XBI) at 3:47: $223.60
SPDR S&P Biotech ETF (XBI) at close: $223.86
CELG at 3:47: $125.86
CELG at close: $128.50
True, but why wouldn't there be at a very temporary poke upwards from this for the reasons mentioned above? Those required to hold a certain percentage of their assets in Fortune 100 equities are by definition not shorting the S&P 100.
First, this is a serious question about those "huge call options".
If I go to the CNBC March 10 story link, it says that one " trader purchased 2,774 125-strike calls at a price of 70 cents with an expiry on March 27. Just two minutes later, there was another purchase of roughly 2,600 124-strike calls priced at 50 cents and expiring a week from now".
I'm a little bitty private investor. On February 26, I bought 3,459 shares of CELG, sadly, at $123.334. Surely that wasn't biggest enough to be newsworthy even to my next door neighbor, never mind a media source? (I live in a rural area with a fairly average median income). Am I wrong about that?
Thanks for any thoughts anyone here has about this. That story really surprised me.
Celgene, for one, recently forecast that it will grow earnings 23% annually through 2020. “Very few companies can do that,” Acker of Janus says.
There are two ways to view that comment. I took it to be skepticism.
That was really helpful, diividendseeker. Really appreciate your taking a moment to give me not only your thoughts, but also the assessment and rationale behind them. For what it's worth, no way is a position like that day tradable for me -- something I very rarely do anyway.
Nice to get some serious between all the dreck and trolling here..
S&P Biotech Index "XBI" was up over 1% today, but we keep getting #$%$.
Thoughts? Opinions? (please give your rationale)
I bought 3,800 shares near the end of February and am already down over $20,000 on them. Not a happy camper today, or these past two weeks.