I’m keeping it short tonight. Not a ton of great things to watch and I was way late getting home after traveling this weekend.
OPXA – positive drug news sent this up from $0.50 to $2.01 Friday. I don’t think it is that great, but I’ll let the price action determine the move. Either way, this should be volatile
SPDE – same deal, up from $0.85 to $3.11, this time on news of a new solid state hard drive (SSD). I am even more negative on this company and will look to short on green to red action.
Tight stops on both stocks would make sense, especially for shorting. Both still have tiny market caps and are very low float.
Disclosure: No positions. I have a disclosure policy.
http://www.streetinsider.com/Press+Releases/Inovio+Biomedical+and+NIH+Vaccine+Research+Center+Sign+Research+Collaboration+Agreement+to+Develop+Universal+Influenza+Vaccines/4858710.html
I, personally, think that world governments could find more cost-effective solutions to saving lives, but I’m not in government. Governments have set aside big money for vaccines. But that is all besides the point – this news could make for an interesting chart. I’ve just started watching Sykes’s stuff: would you consider this chart too messy to trade in his method?
Before anything else: I wish I knew how often the NIH teamed up with biotechs.
I would imagine that it doesn’t go far back enough in time, but a supernova seems like a reasonable prediction, yes? Too bad I’ll be laying carpet tomorrow and probably miss the fun parts 🙁
I’m interested in what, if anything you did with OPXA. I’m trying to follow along and paper trade the action but it hasn’t went green red yet and I wonder if you have traded in between.
Hope your having a good day.
Aw.. well, that was boring…
KingTag – all that matters in trading is price action. What uninformed people such as us think of the news is irrelevant. Lots of biotechs have nice news like that and then the stock gaps and doesn’t move or gaps and craps.
Preston – I didn’t play OPXA. I should’ve played SPDE at the open but I was busy going long RTK and YMI for $220 in profits.
Reaper how are you feeling about YRCW? Potential short since it spiked high today but has had low volume so far?
Chris – YRCW a little too real of a company to interest me much. Too choppy.