After 300+ trades in 2011, only ended up 5% lol

[gambler2075]

Exactly. That's why I was selling puts and buying calls on Friday. When the best alternative is alternative medicine CHTP is in good shape.

Hope the snowboarding was fun.

Not bad, slight rotator cuff re-injury in the terrain park. Should probably stop going off those jumps without recon-ing them first. Snowboarding mon-tue-thur-fri next week so will be doing limited trading. BPAX PDUFA on Feb 14 should be fun, no position yet.

Shkreli tweeted this on Feb 9th... Hmmm...
Martin Shkreli @MartinShkreli Reply Retweet Favorite · Open
$CHTP i think approval and stock doubles. confident but one still can never be too sure. i probably won't go to AdCom

g

[gambler2075]

Exactly. That's why I was selling puts and buying calls on Friday. When the best alternative is alternative medicine CHTP is in good shape.

Hope the snowboarding was fun.

Actually the best alternative is either midodrine (proamatine) or fludrocortisone.

Good background info:

http://www.ccjm.org/content/77/5/298.full.pdf

There was the issue with the FDA telling Shire that they would pull approval for midodrine as Shire did not conduct the required studies, but now they have agreed to do the trials. Which worries me a bit as if Northera was going to be approved and make midodrine irrelevant, then I would have thought that Shire would have given up on midodrine. The next 12 days are sure going to be interesting, one way or the other.

Business news in brief

"Shire agrees to drug trials

The U.S. Food and Drug Administration has approved a December agreement with drugmaker Shire Pharmaceuticals to conduct two trials to verify benefits of the low-blood pressure medicine midodrine. Brand-named ProAmatine, the drug was rushed to market because there was no other treatment and patients have come to depend on it. It never achieved the clinical test results the FDA requires for full approval. Shire, which has operations in the Philadelphia area, doesn't make the drug anymore, but as the original applicant for approval, it must meet agency regulations. - David Sell"

[gambler2075]

Not to be Mr Wet Blanket here, but I think one of the hardest things to do is for new traders to compare their returns with the market they were trading in. For example, these noob trading friends of mine had started to trade bios around the new year (NY's resolution ) and were now ecstatic that they were up 15% YTD. What they don't realize is that the markets (and bios specifically) were up HUGE in January, and trading the bios, they were actually underperforming the market with their 15% return. But of course they don't think about that.

Basically, depending on your trading style, with the markets up so huge in January, a good, long-only trader should be up 15-40% in their portfolio for the month of January. Anything less and you are basically underperforming the market.

As they say "Never confuse genius with a bull market"

Don't Confuse Genius With a Bull Market

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[gambler2075]

Uh oh... gonna get killed on CHTP today... I can't believe they got the briefing docs early from the FDA, and the Bio CEO presentation is actually a non-fluff presentation. CHTP down to 4 during pre pre market...

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[Slug]

Uh oh... gonna get killed on CHTP today... I can't believe they got the briefing docs early from the FDA, and the Bio CEO presentation is actually a non-fluff presentation. CHTP down to 4 during pre pre market...

g

Crud.

Chelsea Therapeutics CEO to Review NORTHERA(TM) NDA and Provide an Update on Upcoming Advisory Committee Meeting During Presentation at BIO CEO - MarketWatch

[gambler2075]

I lost/am losing over 180,000$ today... but still positive on the year. sheesh.

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[KTP]

I lost/am losing over 180,000$ today... but still positive on the year. sheesh.

g

Ouch! And you think options are risky?!?

[KTP]

BTW, I used a portion of my BAC profits just now to buy 1000 shares of CHTP at $3.24

I love a good gamble!

[Slug]

BTW, I used a portion of my BAC profits just now to buy 1000 shares of CHTP at $3.24

I love a good gamble!

And, I'm still selling puts on it, albeit at $3 instead of the $5 I was on Friday.

[KTP]

Ouch...did you get assigned any shares at $5 yet?

I am just playing around with the bounce effect, although it seems this fall has some mass to and kind of dented the ground a bit.

[KTP]

Nice action today on CHTP. Already up almost $500 on my $3200 investment

[Slug]

Nice action today on CHTP. Already up almost $500 on my $3200 investment

Yeah, those puts I sold are looking like $ in the bank. Now, if it could just creep back up to $5. I learn time and again not to buy on Friday's, esp. on short term trading moves.

[KTP]

Gambler, you ok? I think CHTP will come back.

Nokia has been an excellent trade this week. 18,000 shares at 4.95, just sold 8,000 at 5.45 to lock in some gains. First time I had ever held 18,000 of something that wasn't options.

[Slug]

Gambler, you ok? I think CHTP will come back.

Nokia has been an excellent trade this week. 18,000 shares at 4.95, just sold 8,000 at 5.45 to lock in some gains. First time I had ever held 18,000 of something that wasn't options.

I'm still thinking approval on Northera but I'm not expanding my CHTP position right now.

I missed the NOK drop below 5 (again). I am watching it though.

[Slug]

Back from the dead. If I had only believed a little more. Up 60% in after hours.

Chelsea Therapeutics Northera for Dizziness Wins Backing of FDA Panel - Bloomberg