The Biotech Trader Lounge

[Slug]

Not biotech, but I picked up some Nov. 2013 EK bonds today yielding 15%. Safety in my Roth.

AFFY drifting down. I'm hesitant to do anything before the data.

[gambler2075]

Wow missed a huge bounce on DVAX, looks like the AM selloff was a bit overdone, bounced from 2.20 to 2.70... of course, premarket it bounced from 1.80 to like 2.70 too...

‪overkill- by men at work (with lyrics)‬‏ - YouTube

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[gambler2075]

Weird that the valuation was so far off. Did ICGN just negotiate poorly?

No, it was just that the longs were dreaming of ridiculous buyout prices... As usual, they were overly optimistic.

‪Lord of the Rings Requiem for a dream‬‏ - YouTube

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[Slug]

ICGN ran up twice on buyout hysteria, then when they found out it was 6$ per share, the longs got smashed...

ICGN - SharpCharts Workbench - StockCharts.com

‪Muse- Hysteria‬‏ - YouTube

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Weird that the valuation was so far off. Did ICGN just negotiate poorly?

[gambler2075]

ICGN ran up twice on buyout hysteria, then when they found out it was 6$ per share, the longs got smashed...

ICGN - SharpCharts Workbench - StockCharts.com

‪Muse- Hysteria‬‏ - YouTube

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[gambler2075]

Been watching NABI for a slam play, they have another phase 3 coming up. No position. Was expecting it to go up a little more today, trading with a market cap of 80M$, with 100M$ in cash...

NABI Basic Chart | Nabi Biopharmaceuticals Stock - Yahoo! Finance

‪pendulum - slam‬‏ - YouTube

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[gambler2075]

Yay! A big spread trade in my IRA looks like it might actually hit.

I have been holding 20 spread contracts for Apple Jan 2012 $350 $380 calls, purchased for $12, and it looks like Apple just blew away earnings and will open tommorow near $400. While it is not Jan. yet, this would put both legs of my spread in the money currently, making it worth the full $30 if the $380 short leg is called away.

$60,000 on a $24,000 trade. Will be my best win ever. Possibly I could get out early for $50,000 or so if both legs go really deep in the money. Not sure what I will do.

I gotta say that AAPL was pretty wild AH... congrats!

‪Tone Loc - Wild Thing‬‏ - YouTube

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[Slug]

Congrats. I'm sitting quietly on 33% cash right now waiting for something interesting.

[KTP]

Yay! A big spread trade in my IRA looks like it might actually hit.

I have been holding 20 spread contracts for Apple Jan 2012 $350 $380 calls, purchased for $12, and it looks like Apple just blew away earnings and will open tommorow near $400. While it is not Jan. yet, this would put both legs of my spread in the money currently, making it worth the full $30 if the $380 short leg is called away.

$60,000 on a $24,000 trade. Will be my best win ever. Possibly I could get out early for $50,000 or so if both legs go really deep in the money. Not sure what I will do.

[gambler2075]

‪Dinah Washington: What Difference A Day Makes‬‏ - YouTube

Well, I guess it is actually 2 days, but still. DCTH at 5.07, those who bought my shares at 6.45 are down 21% in 2 days. If I had been buy-n-hold investing I would have given back 64K$... hmm..

Watching for a rebuy of DCTH when the time comes, currently bought some other biotechs over the past couple of days, we'll see what happens. Not fully loaded up yet, but do have a 400K$ position in it so not posting. May post when I am done loading...

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Still sneaking my way into that biotech without moving the price too much, still have another 200-300K$ left to add...

Alot of these bios are way overbought, I am running out of underpriced bios. Preferably a drug that is not discovered by the masses/momo players yet.

‪Huey Lewis And The News - I Want A New Drug‬‏ - YouTube

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[gambler2075]

My longs are taking a beating today, here's how I looked when I saw my account balance...

‪Flight of the Conchords Ep 12 Bret's Angry Dance‬‏ - YouTube

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[gambler2075]

I am sure EK was considered a buy once at $50 or more too. But ya, if he can find a greater fool, then it might be good to buy at 324.

Let me clarify, he is still continuing to hold, which he has for at least a few weeks, which I guess is different from recommending to buy, but the point being that he thinks it is likely to go higher or he would have sold.

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[KTP]

FWIW, one of the best traders I know is holding CMG, he thinks it is a buy here at 324.

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I am sure EK was considered a buy once at $50 or more too. But ya, if he can find a greater fool, then it might be good to buy at 324.

[gambler2075]

This is very true and that mass mentality is one reason I have not shorted CMG, even though every fiber of my being screams to buy some $330 August puts. It is so horrendously overvalued that it is too big to fail now and the masses will probably take it to $500.

FWIW, one of the best traders I know is holding CMG, he thinks it is a buy here at 324.

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[gambler2075]

Looks like it's time to buy biotechs again!

Oh wait, I'm in biotechs 99% of the time, so nevermind... But for those who might choose biotech vs, say, tech, this makes the argument that buying bios now hs a slight edge...

Best bests in biotechnology | Main Section

‪Money - Pink Floyd + Lyrics‬‏ - YouTube

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