Yep....put em on television and scream "buy buy buy" and there are always Muppets that will do so. It's not rocket science. Musical chairs is always fun until you're the one without a chair. :)
One thing ol #$%$ learned years ago.....shorting Dr Phillip Frost is financial suicide. 22% short interest?
Wow...I haven't thought about Dr Frost in years, I didn't know he was back @ it. He made me some of my first real money in the stock market. I was just a kid. I grew up in Miami and one of my first jobs was in a building close to the building that housed the headquarters of Key. I was starting to get into the stock market, I did some research (you had to go to the library and read S&P reports way back then..& even use a rotary phone to call your broker :) but I started buying it. When he sold it to Schering-Plough, I held those shares for awhile and eventually sold em for some nice gains, they paid a nice dividend too.
When he started Ivax (It's headquarters was actually in the exact same building as Key), I owned that for a bit too, but it traded on the AMEX and I lost patience with it after a bit.
GL with this one....I might just have to look at the financials just for nostalgia's sake.
He's gonna be the star of the next episode of American Greed.
The latest reported short position was about 10% of the float, but it has been rising. Even though it is summer and you expect low volumes, volume has been on the low side for this issue. Personally I think the big boys have just found other places to play for the moment. Many of the top rated bio's, including the IBB index, have already returned to their April highs.
The chart still looks pretty bad, but so did Puma's until yesterday. :) The chart is slowly improving. The nasty 100 point drop in just a week or so back in April was followed by the secondary offering and the delay in releasing the July data, and then Janet Yellen opened her pie hole and kicked the bio's again. Since when did the Fed's mandate include stock/sector picking? So it's had some major headwinds.
This stock is not for the faint of heart, it can and does move quickly in both directions. If you are a trader and can stay on top of it, there is money to be made. You can still get daily moves of 3-5%. It fell from the 400's to the low 200's and then rallied back to almost 300, and then back down to 200. The MM's will gap it up, especially in the mornings if they can, but lately there just isn't any sustained buying. It gives back it's gains pretty quickly and hasn't closed well for some time.
With yesterday's monster bio rally I'm surprised it didn't rise even more, but again, no volume. The options pits don't indicate any real movement either, and with the volume so low and the spreads so ridiculously wide, it's almost impossible to hedge a position of any size.
Just some thoughts....take it for what you paid for them. I'm getting sleepy again, back to bed for a bit.
Yea......Jon N on CNBC said there was a big buyer of the 70 strike calls that are up 3,000% today. Somebody's gonna be on the next episode of American Greed.
Sure they know something we don't know. The insiders always know something that the little retail guy doesn't. They knew that they could short the snot out of this thing when it was hit $400, and then they knew they could get the stock back @ $320.
Based on the fact that the stock goes down on a daily basis and closes @ the LOD, it's clear this thing is dead. It's lost 80 bucks in about a month. Below $200, this thing will fall faster than a Mexican cliff diver.
Rule #1...you make $$ in options selling them, not buying them. When tempted to buy an option, please refer to rule #1. Why do you think the Wall Street risk for cash machine invented them?
If you like to play in the space...the IBB favorites GILD, CELG, and yes REGN are the ones that will pull it up. Spec plays like ICPT are not for the faint of heart like this jds dude.
Why would you buy calls on a stock that never goes up? You make money in options by selling em, not buying em. Selling calls on this thing is the next best thing to free $$$$