The Biotech Trader Lounge

[Slug]

Back in AFFY @ 6.2 Hoping to offset losses on these calls.

[KTP]

me too! I bought 2000 shares at $6.15 today...hoping to sell some calls on them soon.

[Slug]

In AFFY again at $5.75. Scooped up lots of ETF's for the long portfolio too. Last 15 minutes have been joyous.

[KTP]

I am waiting on a fund transfer to my broker account from my checking and so couldn't buy more AFFY. I am not sure I would want more than 2000 shares anyway...especially since I did not sell calls against them yet.

I may go bargain hunting tommorow. A few things getting really cheap. I like Seadrill at $29 and Intel at $21. I would go another 1000 AFFY if I could get them for $5.50.

I bought A LOT of Corning at $14.55. Book value is $14 and they are supposed to do 10 billion by 2014. Some things are going crazy cheap right now. I *almost* bought some puts against Chipotle this morning when it was still $325. When it finally does crash, it is going to go really bad. One day I am going to look it up and see a $100 drop.

[Slug]

Big money betting against AFFY. Call seller is betting against Affymax - NASDAQ.com

[Slug]

In AFFY again at $5.75. Scooped up lots of ETF's for the long portfolio too. Last 15 minutes have been joyous.

Finally able to exit this position today!

10% gain.

[disneysteve]

Finally able to exit this position today!

10% gain.

But what if it does get recommended on Wednesday? Will that shoot the price up more or is that approval already priced in? Of course, if it doesn't get the nod, the price could plummet. Tough call. I'm still in but perhaps now is the time to get out.

[disneysteve]

Decided to get out while the price was good. I'd rather miss a further rise than get burned if things don't go well.

Bought for average of $5.08. Sold for average of $6.30. A nice 24% profit in 4 months.

[Slug]

I'm just betting it will sell off on the news. I really don't care though.

Mostly I've had a lot of cash trapped in this stock making me edgy for months. I just wanted out. Otherwise I would've just sold the calls. I'm also happy for a little more liquidity right now.

[disneysteve]

I'm just betting it will sell off on the news. I really don't care though.

Looks like it was a great call. Down to $5.50 today.

[Slug]

Even monkeys can type a word occasionally. Definitely glad we sold.

[disneysteve]

Even monkeys can type a word occasionally.

Well this monkey closed it out up 24% so I'm one satisfied monkey.

[charlieh]

So someone tell me did i miss the boat? Are biotechs the way to go? I am new to this game.

[Slug]

So someone tell me did i miss the boat? Are biotechs the way to go? I am new to this game.

The answer to that question is No. DS and I focus on areas we know. We both happen to know more about pharma/biotech than the average Joe and have followed many of these stocks for a long time.

Focus on an area you know and get to know the public companies in that arena. Develop that knowledge.

And, mainly just buy index funds

[Slug]

Well this monkey closed it out up 24% so I'm one satisfied monkey.

Hope you are still satisfied, despite leaving another 35% on the table. I actually am fine with it.