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Best & Worst chart -
http://host.wallstreetcity.com/wsc2/Industry_Group_Report.html?Range=4&Symbol=.DBI&Button=BE...
It struck me that NEOT was at the top of the heap this week and GNLB close to the bottom. Not too long ago it was just the opposite.
I still feel that the volitility in biotech has nothing to do with the quality of the companies. It is simply the MM's bringing them up and down to squeeze out their cut and increase inventory for the big push to come.
OMG followers - someone just printed some excellent resources on the Yahoo board and they will soon be buried in crap so I want to repost them here:
http://www.thecdi.com/index2.html
http://www.omgi.com/rd/published_papers.htm
One of the original Yahoo posts:
http://post.messages.yahoo.com/bbs?action=0&board=7079237&tid=omp&sid=7079237&mid=88....
An excerpt from the first site:
http://www.thecdi.com/october2002/article3_future
Over the past year, the big players in cobalt, OMG and Umicore have got bigger. Both companies have secured supplies and markets through joint ventures and acquisitions and collectively account for over 40% of cobalt demand and the supply of added value products.
Umicore has purchased Hall Chemicals which in 1988 was purchasing over 1000 tonnes of cobalt a year; through its trading subsidiary Sogem, it has a joint venture with Norimet to sell Norilsk cobalt. Macquarie Research has recently estimated that Norilsk has been producing around 5,000 tonnes of cobalt per annum for each of the past two years.
OMG purchased the Cawse assets which secured around 1000 tonnes of cobalt plus nickel in intermediate form; OMG has also purchased the previous Manchem carboxylate plant from Rhodia which was using around 400 tonnes of metal a few years ago.
If there is going to be a supply problem, these two companies are in good shape to weather the storm. A relatively small rise in the price will make intermediates more plentiful and enable both companies to fully utilise their refining assets. Being integrated into high value added products will also enable them to benefit from the greater margins.For other consumers, it looks as though they have to be price followers unless they can organise joint venture agreements and guaranteed off-take arrangements with new suppliers.
In view of the importance of this company and their product, how can the INSTY's possibly stay out of it?
I still haven't decided what to do. Freetrade looks like the best commission structure for me, but it is an Ameritrade company and only accepts cash deposits, not transfers.
Ameritrade fills don't seem to be too bad, I am reconsidering my initial negative impression, but they are definitely posting different from DATEK. I have had to start going up a penny or two above the ask to avoid partial fills and in a quickly moving market the system seems to hold on to the order long enough to get price improvement rather than grabbing the shares that are a penny higher.
Once a stock went sub $5 in the past, it was the kiss of death.. I just wonder if that applies these days given how many stocks are trading there now : )
SEPR - a good example of a quick dip below $5.
It would be nice to have a "recommend this post" feature.
* hint * * hint *
ALKS - they're running the stops and it's on the brink of filling a gap on the way back up. CHECK IT OUT.
My garden got a double whammy this year too - the drought and obsession with learning the market.
Mostly I'm following the charts within the sectors looking for swings. Haven't caught AVN or VRTX. Too many good companies out there to know them all.
I think biotech (with the possible exception of IMCL :( is more excitement that "hype" on the news.
I beleive most of the companies have very dedicated scientists that are out to improve the world we live in and make money at the same time.
How much of that was due to the drought?
Curing cancer is to bioengineering as water powered textile mills were to the industrial revolution.
IMGN is still working on MAB cancer cure.
Bacteria will be used to refine gold more economically. Gold is not a rare mineral, only rare in forms that can be mined economically.
Gold and Petroleum will both be seriously devalued within 20 years. Petroleum will probably be displaced by little gas producing bug farms that store energy to fuel cells.
There will be big distribution run in both of these areas before they go down for the count. Don't be a bag holder.
The by-products of bio-engineering will be environmentally benign. The world will go this route out of necessity as current forms of manufacturing are too toxic to support an increasing population.
Strange thought: What would be the market reaction to AG's death?
Still don't know what PMs means.
You may be right about the five years, but I think it will be less than that. In the mean time there will be some incredible swings as the MM's try to suck up all of the shares.
In edit - Precious Metal - got it. I am leery of that area as I think bio engineering will cause serious devaluation within 20 years. I believe that is why the national treasuries are selling off their gold. I'm in the jewelry business and most of my inventory is in silver so if the actual commodity spikes, I'm in!
PM stocks?? Yes I am selling constantly, rotating the winners into new posistions. I ususally buy around 2000 shares at a time, sell half on a pop and let the rest run for a while. Still, I have vacated several of my posistions (BCRD was one :) as they seem to be topping out. Selling a stock I like is getting easier because I keep getting opportunities to get back in on a swing.
SEPR has been an incredible swing trade. ALKS was great until it quit swinging and started just ramping up. I actually made less money from that stock because it was going up so nicely.
I watch mostly biotechs and it does seem like the sector is firming up a bit so who knows, I may actually be able to buy and hold for a while at some point.
Unfortunately, my parents won't buy anything but CD's and Treasuries. I'm sure there are a lot of depression-era survivors that are this way.
I broached the subject of buying a few stocks today (my account has doubled in the last few weeks) and my mother refused to even consider it. She says she won't worry about stocks, but then she worries about declining interest rates.
Very depressing...
Inflation and low interest will destroy retirees.
Re-submit your post in response to a Zeev post - he'll never see it addressed to "none".
That's what I've been working on for three years....
Was that little up and down dance after the Fed call normal?
Those creeps scared me out of some nice trading posistions and I only made half what I could have.
THERE IS TOO MUCH TO LEARN HERE!!!
I succumbed - sold GNSS short at 15.24...
Just a small position. But I am no longer pure.
In edit - covered at 15.13 - too many blocks sold around 15.20. BUT I DID IT!! LOL!!
Can someone explain?
I have two level II screens, one through e-trade the other through Ameritrade. Ameritrade shows the bid on ARDM 300@2.49 by ADFN. E-trade shows both ADFN and INCA for 300 each @2.49.
Why the discrepancy?
What is the best way to get pre-market action on NYSE? I have a bid of 6.60 and ask of 6.78 showing on my Ameritrade account, 6.39 and 6.52 showing on my e-trade Level II screen.
Scottrade is hopeless...
duplicate
Please do forward that correspondance. I am very interested.
I have been thinking about moving the account since the first day of the switch. Will be opening up another account soon but things are moving pretty well now and I am reluctant to break the rythm :)
The problem with IB is for trades over 2000 shrs they get to be too expensive.
It's Datek/Ameritrade that I'm getting the slow fills on. Of course freetrade is probably the same. Am planning to do the same thing, fund a small account and try it. Only problem is I'm making too much money right now so want to wait till things slow up a bit to make changes *grin*.
If Fed holds, will we see a hard spike down on "disappointment" so the big boys can pick up some more inventory?
This would explain why they have been pumping another cut.
I bought OMG for a swing but didn't even try to trade it because I didn't have level II. What do you use for trading signals on a NYSE stock? Placed a market order and got the stock at $6.45 when other sales going on at $6.42 so do I always use limit orders when trading?
The only other NYSE stock I ever bought was CRY on their original dump so I feel like I'm going blind here.
I had another stupid go-around with Ameritrade this week. BDAL wouldn't trade. Had to call twice and spend about an hour on the phone. First time they blamed it on SelectNet, second time someone found the real problem, it was entered in the database as OTCBB and wouldn't let me trade it. Fortunately it was a slow trader and I still got my trade, but I am not happy with the "it's not our fault" attitude.
I still think they are working the spread on the trades - is there a way to confirm this? Trades are posting much slower, the feel is different.
I actually had to back off trading for the last hour today. I had done so well this week that I was completely freaked out!
I've been working so hard at learning for several years now and now I realize that I have learned a lot, just didn't have the right opportunites to use what I'd learned. When the market does turn down again I think it will be easier for me to back off and wait for the next wave. Unless, of course, I finally learn to short....
Don't follow it, but a quick look at the charts says it may be turning. It seems the whole sector is going off.
ASTM just skyrocketed to .32 after weeks of .25 and below. GZMO went from .97 recently to a high of 2.66 today, BIOM popped this week too.
I believe ORCH will jump on earnings 11/7. They've been holding it under tight control for weeks, accumulating and I believe preparing for a blowoff.
My portfolio is up about 80% since this rally started, I'm totally amazed!
What would the cause of that be???
In at 6.58 for a swing.
Gregory Peck..
Is it possible that the insanity in OMG is directly attributable to the margin situatioin of the insiders? Could their broker be the one that started the ball rolling?
Again, thinking like a criminal....
A lot of bios that are going down price wise have an MACD at a 45deg up trend. I have been wondering that means that they are being consumed while still breathing.
I've been doing well trading SEPR for the last couple of days. It seems to be trading solidly upward.
Anyone having trouble with fills?
I am having trouble getting stock sold at bid with Ameritrade - they are saying it is because Selectnet is down.
Does anyone make anything of the fact that the dips down are more accute in the current graph?
Thinking like a criminal here, but wouldn't a big unrealistic tout for a cut be a good setup for an accumulation dump and a contiunation of the upward trend?
I guess that you can say BTK is in for a big fall (down) or that it is in for a big fall (autumn). So I guess you have to be right on this one :)