The Biotech Trader Lounge

[gambler2075]

6.65 now..what a volatile stock you found!

You could have traded it like 2 or 3 times today and made 20%

I was going to take profits at 6.20 but alas I didn't... I guess I could have rebought at 5.80 or something, but it is difficult as your positions get larger... you can't be as nimble because you move the stock with your buys and sells.

g

[gambler2075]

Sweet, open positions in my smaller account up 52,000$ today, 55K$ from when I bought them a few days ago (and today). We'll see if it was wise to hold them open over the weekend. Stay tuned on monday..

g

[KTP]

I am still way too skittish for this market.

Today I made about 10 trades, but did not have the heart to stay in any of them.

I bought some april 2012 $25 microsoft calls for $2.84 then resold them 3 hours later for $3.05 (tiny profit).

I then sold some intel oct 2011 $22 puts for $0.90 only to buy them back a few minutes later for $0.86 (such a small profit it would almost be a loss if not for the free trades). I was going to be comfortable owning intel at $22, but got nervous.

Just no real faith in the market anymore. Have no clue where it is going to go. DOW 9000 or DOW 14000, which comes first, and how fast?

The only single stock that I trust 100% is Microsoft. So much cash on hand and so many irons in the fire, it is the only stock I feel safe when I put my money in. Probably because it has been priced for eventual bankruptcy and yet they keep increasing earnings and revenue. Still, I like to diversify...just lately my diversification is holding a ton of cash.

Frustrated

[gambler2075]

There is no law that you have to be invested in the market until you feel like conditions are in your favor. One of the best pieces of advice I read from Livermore was that nobody can make money in the market every day. Some days, there just are not opportunities to make money. I'd rather have a 0.800 batting average and swing at 5 pitches than a 0.300 batting average and swing at 100...

Let's see if the market declares itself with POMO being over. I feel like the bios are spiking so that might be a blowoff top, we'll see.

g

[gambler2075]

Unreal... AF came out with an actual BULLISH article on a pharma? WHAT IS GOING ON!!!! ????

I've been following TSPT for a while, this may have a runup into thursday. Hmm...

The Next Big Thing in Biotech: Transcept

g

[KTP]

Took a 23,000$ loss on TZA, sold at 31.44... The trader I follow is actually still holding, but will sell if the S&P gets through 1350 with volume... so far it is holding around there, so he is holding. Lots of bios running recently, makes me think a blowoff top is here (or near).

g

I think your friend gets rich off TZA today.

May be an opportunity this week for my cash stash. I am buying if we get a S&P breaking below 1280. I will be going long Jan 2013 microsoft, intel, and goog calls.

[KTP]

Sweet, open positions in my smaller account up 52,000$ today, 55K$ from when I bought them a few days ago (and today). We'll see if it was wise to hold them open over the weekend. Stay tuned on monday..

g

Hope you are either out of your LEDS position or have reduced it significantly. It is back down to 5.80.

[gambler2075]

Leds killed me. Sold out of 47k of dcth at 6.45 ish, plus about 42,000$ for the 1 week hold.

[Slug]

Leds killed me. Sold out of 47k of dcth at 6.45 ish, plus about 42,000$ for the 1 week hold.

Just a reminder that +$42k on a one week hold is not equivalent to getting killed.

[gambler2075]

Just a reminder that +$42k on a one week hold is not equivalent to getting killed.

Darnit, I looked more closely at my Etrade statement and I realized it was only 37K$, not 42K$. I guess I was mistaken about my entry price. Oh well, I guess my gift to the US government is another 18,000$ come next April.

DCTH was basically a perfect situation, entering right as the stock was running up... I should have sold in a couple of days, though, not when I did.

‪perfect situation by Weezer w/ lyrics‬‏ - YouTube



Getting killed on LEDS meaning I was up 40K$ in a day or so and was too greedy to take profits. I won't even say where I sold, lol.

AFFY taking off again...

g

[Slug]

Yeah, I'm going to get called out of my shares. I really can't be upset given the number of times I sold those calls though. This will greatly increase my liquidity as well which I like given the current political turmoil.

[KTP]

I loaded up on 4000 shares of Nokia today at $5.55

I plan to sell Jan 12 $6 calls against them tommorow or early next week before Q2 earnings for hopefully $0.70 or so.

This gives me downside protection to $4.85 (book value on Nokia is $5.35 and 50% of market cap is cash, plus they have more patents than Nortel)

I fully expect to get called away by Jan with a profit potential of a !bit over 20% (I will take 40% a year on any investment!)

Ok, so it isn't a biotech, but at this low price it kind of feels like one

[gambler2075]

Darnit, I looked more closely at my Etrade statement and I realized it was only 37K$, not 42K$. I guess I was mistaken about my entry price. Oh well, I guess my gift to the US government is another 18,000$ come next April.

DCTH was basically a perfect situation, entering right as the stock was running up... I should have sold in a couple of days, though, not when I did.

‪perfect situation by Weezer w/ lyrics‬‏ - YouTube



Getting killed on LEDS meaning I was up 40K$ in a day or so and was too greedy to take profits. I won't even say where I sold, lol.

AFFY taking off again...

g

Dodged a bullet on DCTH, they diluted AH and are down to 5.35...glad I sold where I did.
Here's a nice twitpic that sums it up... and the reason why I am a trader, not a buy and hold investor.

$DCTH For those who would like to see what manipulation looks... on Twitpic
g

[Slug]

I was able to sell my covered AFFY calls this morning. Locked in a reasonable gain and 10 days for it to fall back out of the money. A good day indeed!

That cinches it. I must be the best poster in the forum since the spammer copied my post word for word from 05-11-2011, 11:05 AM.

I have to admit I pondered for a moment how someone could be selling calls that expired in 10 days when option expiry is today and you can't sell weekly AFFY calls. Then, I recognized overly-optimistic slightly egotistic writing style.

[gambler2075]

Dodged a bullet on DCTH, they diluted AH and are down to 5.35...glad I sold where I did.
Here's a nice twitpic that sums it up... and the reason why I am a trader, not a buy and hold investor.

$DCTH For those who would like to see what manipulation looks... on Twitpic
g

‪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...

g