A phase one would probably not make wall street jump out of their seats cheering. Thanks for the input. Obviously, there are more variables here than I understand.
My wife still holds 1k shares she bought and held from about $13.5 pre-reverse split a few years back. She is still holding strong. Wall Street has been tough on this stock for the intervening years.
I plan to get back in. Even at a higher price than I sold. My current strategy is to wait until AMGN announces they plan to spend an ungodly amount of money to move to Phase 3. I expect them to do so. They had some leadership issues at the top back in 2006 when making partnerships with outside pipelines like CYTK. As I do am not familiar with AMGN's culture, or strategies, (lazy on my part) I will wait. Heck, this is only a Phase 2 trial on Omi. We have a long time left to make money here.
I am very long, but with no position at the moment. I got lotsa cash waiting to get in at a lower price. Please get your short going so I can get back in at single digits. Then I plan to ride it in and out for about 10 years!
I have owned stock here for about five years. But trading in and out of the extreme volatility has allowed me to double my holdings without investing more money. IRA accounts do not have the same tax implications so I trade almost at will. I may miss some of the upswing, but when I bought my initial few shares, my cost was about $2.60 (translates to $15.60 after the reverse split). With averaging down and trading volatility, my basis went as low as $4.50. I have always believed in the company, but have little faith in Wall Street pricing. Eventually, CYTK may have actual profits and the stock pricing will be a reflection of this profit and not be so volatile. In the mean time, I am trying to limit risk and maximize profits. I plan to be here for another ten years at least.
I totally agree. But the Ome Atomic results were great and Wall Street dumped the stock. My faith is in the company but not in Wall Street. I wasn't expecting the company would find a meeting to present results so soon and I tried to get back in . My order at 10.20 did not fill as I put it in just after the days low. Then it shot up. I look forward to the cc in the AM on Monday. I am really curious if they will announce whether they go to Phase 3 at this meeting. It may take them longer. Good luck to all!
I won't hazard a guess. But if volume keeps up, it may even go higher. I look forward to reading the full study report on Omi when it is released.
Hey Hawk, great to see you on board again. Have you been long this whole time? I plan to get back in but am sitting on cash at the moment. My basis was down to $5 due to trading this stock actively the last few years.
If this is a consolidation level, I might buy back in soon, however, this run up looks like others which failed here. Perhaps the new buyers are real longs for once and won't dump. That would be refreshing. Either way. Great to see you back!
I have been here for five years and today looked strange. Pump and dump perhaps. Not much option volume. I sold all my shares by end of day and hope to buy back in once sanity prevails.