The Biotech Trader Lounge

[gambler2075]

Yep, FDA (Shelly Burgess) confirmed it 30 seconds ago.

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[gambler2075]

PTIE down to 5.30's premarket, from 9.24 close yesterday...

Yahoo! Message Boards - Pain Therapeutics Inc. - PFE/ACUR News Release Was at 7:30AM EST

oops, someone lost 30,000$ overnight... reminds me to never hold through a PDUFA unless it is a CRL re-submission and you have other signs that it is going to be successful.

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p.s. hehe, just to be clear, btw that 'someone' was not me :P

[gambler2075]

I call bounce time on ACUR at 3.79... has had a nice rundown from the 6.80 high after approval. Target would be 4.30-4.50 ish. Looks to be double-bottomed... no position.

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Opened at 4.41 this morning, after PTIE rejection (expected that one, ACUR and PTIE make similar products)

Hope y'all took profits, 10% in a day is nothing to sneeze at.

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Edit:

2011 YTD realized profits: 329,000$
2011 YTD unrealized loss (open positions): 35,000$

Kinda scary to think about the fact that it all hinged on the XNPT trade... if it had gone the other way I would be looking at a 200,000$ YTD loss...

[KTP]

I cashed out my AFFY today for another 11% profit (bought at 6.30 this time and sold today at 6.95).

I poured all my years short term gains into one of my largest microsoft plays... 160 Jan 2013 $22.50 calls for $3.75 each. This is in preparation for a run later this year and I may be $0.25 to $0.50 too early depending on Greece. that is the nice thing about the biotech stocks..they couldn't care less what Greece or Europe does.

[gambler2075]

I cashed out my AFFY today for another 11% profit (bought at 6.30 this time and sold today at 6.95).

I poured all my years short term gains into one of my largest microsoft plays... 160 Jan 2013 $22.50 calls for $3.75 each. This is in preparation for a run later this year and I may be $0.25 to $0.50 too early depending on Greece. that is the nice thing about the biotech stocks..they couldn't care less what Greece or Europe does.

Nice! The way to play markets that are flat is to buy low, sell high :P
AFFY prolly goes back to 6.30 again, for the nineteenth time, lol

I agree, bios don't care too much about Greece, which is why I like them too...

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Edit: Just to clarify for the non-option trading majority of SA,

Each 'Call' is a contract for 100 shares. So if calls are trading at 3.75, each contract costs 375$... So if someone traded 160 contracts, that means he put on a position of 375$*160 = 60,000$

Not sure how big your trading account is, but a profit of 60,000$ in half a year ain't too shabby

[KTP]

Edit: Just to clarify for the non-option trading majority of SA,

Each 'Call' is a contract for 100 shares. So if calls are trading at 3.75, each contract costs 375$... So if someone traded 160 contracts, that means he put on a position of 375$*160 = 60,000$

Not sure how big your trading account is, but a profit of 60,000$ in half a year ain't too shabby

Yeah, I have to use options with large caps like microsoft to get them to return anything decent with the relatively small moves they make. With biotechs you can get 100% moves by just holding the stock. At least LEAPS are someone safer since they provide about 6x leverage and not too much time value spent on the ITM ones.

Hopefully this play will go similar to last year. Actually, if you look at the 5 year chart, Microsoft spikes higher in Jan of every year, except for 2009 when it (and every other stock) spiked horribly down. The downspike was super short though, since it was not based on anything other than general market panic.

[gambler2075]

Stock advice that has stood the test of time...

Smart Stock-Market Investing | The Onion - America's Finest News Source

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[Mr Nice Guy]

Stock advice that has stood the test of time...

Smart Stock-Market Investing | The Onion - America's Finest News Source

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LMAO, nice!

[gambler2075]

I agree with one of my pro trader buddies, OXGN at 2.49 is reasonable for a bounce here. No position.

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[gambler2075]

Hmm.. not liking OXGN here at 2.46, would take a small loss of 1% and sell. We'll see, it probably goes to like 3.25 in a week, hehe

[KTP]

Hmm.. not liking OXGN here at 2.46, would take a small loss of 1% and sell. We'll see, it probably goes to like 3.25 in a week, hehe

I think OXGN already had it's runup a few weeks ago because of a presentation at the cancer conference. It seems to be going back down to the low $2.

On a positive note, I sold 70 of my 160 msft contracts this morning for $4.10, booking a $0.35 gain ($2450). Small change for gambler, but decent for little ole me. Still have the other 90 contracts hoping for another few pennies.

[gambler2075]

I think OXGN already had it's runup a few weeks ago because of a presentation at the cancer conference. It seems to be going back down to the low $2.

On a positive note, I sold 70 of my 160 msft contracts this morning for $4.10, booking a $0.35 gain ($2450). Small change for gambler, but decent for little ole me. Still have the other 90 contracts hoping for another few pennies.

Nicely done, profit is profit. And the amount doesn't matter, it is the percentage gain.

On a side note, in this market, bios are getting very skittish... moves happen alot faster and you have to take profits sooner.... Look at the biorundowns (after FDA approval) such as ACUR, FCSC, and the damage to stocks like PTIE/DRRX. Favors a reversion to mean strategy, imo.

Watching PRAN for bounce some day, 1.75 now. Also SVNT at 6.69.

As far as OXGN goes, the runup into ASCO was the catalyst back then, but at some point, the pullback is too much and a bounce is overdue. It is close to that point now. No position.

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[gambler2075]

I think PTIE bounces for today at 3.39... we'll see. No posn.

[KTP]

I think PTIE bounces for today at 3.39... we'll see. No posn.

'splain something to me about PTIE.

Market Cap: 148.77 mil
Total Cash: 98.48 mil
Total Debt: 0
Stock price: 3.42
Cash per share: 2.24

Book value per share only 0.87??? why?

[gambler2075]

I haven't looked at the numbers recently, but these biotechs with one main product get crushed if the FDA rejects them. Plus they were slammed by some biotech bloggers recently... all I would care about on this possible bounce would be buying at 3.39 and selling at like 3.59 later today for a 5-6% bounce.

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