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Bigworld,
Be careful about shorting GLD. GDX is lagging because I'm long a September call spread 48/51. That should keep a lid on the miners for 3 months or so.
MF4
What an amazing day. better yet, I was at the helm all day. My SDS calls finally moved in my direction.
The tragedy is that when the market was down 1,000 both my trading sites were so slow or locked up, I couldn't do a thing. Only benefitted by a limit order that I had previously entered and am up 100% on it already.
Wow. Had no idea this kind of move could happen. I will put crazy limit orders in the cue, just in case, from now on.
Ombow. You have to be questioning things a bit here. it's OK. Skepticism is about self-preservation. Do not trust your government. Or any government for that matter.
MF4
you're saying sell GLD, GDX and CRBQ?
MF4
Bigworld, what if today was the capitulation sell-off?
MF4
CORX website says annual meeting is June 5. I thought it was May? Any confirmation?
MF4
Tregaron,
While I wish you are right because I've been buying SDS since Feb, I think you are wrong. Here's why: Because I believe the conspiracy theory that the market is being manipulated slowly higher, back to 1400 SPY by election Day. The puppet masters want the Dems to get re-elected.
When bad news hits, they let the bears run for a day or two. Then after the panic subsides, they just use unlimited funds (they run the printing press) to buy SPX futures in small increments to always be slightly positive every day.
If you're a bear and keep getting burned, expecting fundamentals to eventually be correct, you will stop fighting it. That is what is happening. When the game is rigged by the government, it's a fool's errand to fight it.
I'm still long SDS, because I didn't realize this sort of nonsense could actually happen until recently. Since they are options, I'm holding and hoping, just as I've done with CORX. Hope is not a good investment strategy. Maybe someday I'll learn?
MF4
Ombow,
You don't actually trade off of "news" from marketwatch, do you?
MF4
Ombow, you are correct in the sense that the rest of the world is booming and SPY will go higher. The local US economy will continue to worsen.
But, with China and India going through what we did in the 50s. Considering that's 7 times our population, I think we've begun a long, global up move. The U.S. will not see much on a local level. But, if you work for a fortune 500 company, you will enjoy good times.
It's a generational paradigm shift. I fear Bigworld is focusing too much on the U.S. economy in being bearish.
MF4
Not that I think CORX follows normal trading patterns. But its chart says it's going higher than .24
MF4
Aiming,
If deleting posts that are hardly offensive to most rational people is going to generate 26 responses relating to the deletion that have to be tediously weeded through by all other members, which are all tediously boring posts, then perhaps it's not worth it to delete the message?
This board is becoming dull beyond compare.
MF4
Bigworld,
I think you've fallen in love with your position. Fact is, the government is manipulating this market ever higher. It views the market as too big to fail. Problem with that mentality is the bottomless wallet is committed to propping up it and creating another bubble.
Why is there another 1,300 page law being debated when health care just passed? Because the agenda is to get the control grid in place before November elections. As a backup plan, they will have the market booming in Novemebr so stupid Americans will feel the Dems made their 401Ks come back, and theyll vote the puppets back in office (not that the PUBS are any better).
Just buy the dips. Use options. Market never going down again. And Ombow, it's not because obama is doing good things for our country.
MF4
Senderos,
I think that management seems to bungle everything. The bad joint partnership in Europe. The lost share to LEH. Bad breaks in general. The decline of solar in the last 2 years as an investment favorite. Lack of a profit ever.
I think they are getting things in order, but they are chasing declining ASPs and haven't proven string ribbon profitible yet.
I guess my optimistic bet is that they will acheive profitibility shortly and when they get on the good side of the street, the share price could go up huge.
At this price, shares are like buying an option that never expires.
Of course, that's what I thought about CORX at $2.50 and it's selling on the pink sheets for .22 now.
MF4
Sender, I give up, how much? I don't recall any?
MF4
Now we know the pre-announcement was to pump it before issuing the 13% notes. I admit financing isn't my strongest suit. So, based on the timing, can I assume the earnings will disappoint and drop the stock price?
Also, the conversion price is $1.90/share, so that seems decent? Im tired of the shitty companies I invest in doing these low priced financings. I bought this turd at $18. Isnt it about time to make some money?
For what it's worth, the chart says CORX is headed higher shortly. But then again, I'm new to charting. Perhaps one of our chartists can verify?
MF4
What the news release failed to mention is that the wafers being used for training purposes were for learning how to throw a frisbee.
Ombow,
I used to listen to the opinions of "experts" on CNBC and trade off of them. You know what? These trades never worked out.
Do what you like, but maybe some skepticism on your part is warranted?
MF4
Bigworld, isn't SDS a bearish commercial real estate play? That may not be adversely affected by the private home foreclosure situation.
MF4
That's because I bought some at $1.14 expecting an upmove. When it went down instead, I changed my mind and sold them yesterday at $1.14
Naturally it popped today. But, since I just did a buy/write on even more shares, at $1.20 I expect that will be the top until late December.
MF4
Bigworld,
Things are far, far worse than they seem. We will all find that out, sooner or later.
Odds are it will be later. Like, after election day in November. Until then, party-time.
As I said before. The overlords need Pelosi and Obama in power for 2 more years so they can institute freedom stealing legislation that they can sell as being for our safety. Content people stay asleep, or medicated and passive. They won't risk waking people up until the election has passed.
Expect unemployment checks to be extended, mortgage foreclosures put on extended hold. Happy talk on the conglomerate-owned media, about improving conditions. Demonization of those awake such as the Tea Partiers. Expect to see a major campaign to discredit the tea partiers as racist, redneck idiots, which is not true at all. And if an "incident" gets air-time, it will be from one of their "plants" stirring it up to discredit the movement of true patriots. With no unbiased media available, how will the average working stiff ever learn the truth?
Once the control-grid is in place, you will see the ugly truth, because they will expect their draconian measures to keep them safe. ulimately, they will fall, like all arrogant, power-hungry human systems. But, we will probably be buried by then.
Sad. Really sad.
MF4
just because CORX is allowed to conduct studies by the FDA does not mean they will be approved by the FDA, even with stellar results. Remember, the FDA is just as corrupt as the rest of the government. If CORX isn't in bed with key senators or government approved BPs, all good results will be wasted.
MF4
bigworld,
I respect your opinion. I have been waiting for a pullback all year and sold SPY at 1100, only to watch it go up every day since. Misery enjoys company Food4.
It has recently occurred to me that GS is truly the trading arm for the government. And the TARP funds/stimulus has been funnelled thru GS to keep the markets up incrementally a few points every day for the express purpose of creating confidence from the public in the market and their own wealth effects increasing. Yes, it's BS, but if everybody starts to believe in it, they will spend more, which increases the velocity of money and really does improve an economy. So, that keeps me from being fully bearish.
I truly believe that the powers that control this country (the ones that put the theives in DC in power, and pull their strings), are hell-bent on destroying the Constitution incrementally. In order to do this, the Dems must maintain their majority and Obama must be re-elected. Therefore, they will not allow a big market crash before November, 2010.
After that, they probably will keep unemployment benefits coming long enough to keep people from rioting. All of this ends when they get the total control grid in place. At that point, the markets will crash like you suggest. But, I don't know if anyone will have any money or wealth or personal freedom left to enjoy the great investment opportunity that is created by the "change" that was voted for.
MF4
This stock is the biggest POS (other than CORX) I've ever owned. I thought it bounced off a double bottom at $1.07. Now today, it's weak again. What is the problem with this?
Is management totally incompetent? Did the Q-cells venture kill them? The bad financing? What's up? Isn't Devens profitible yet? What about China? If these bozos could get something right, the stock could pop 400-1000% from here easily.
Why does ESLR seem to be the poster-child for bad solar?
At my whit's end,
MF4
nice 100 share buy at .22 for a positive close. Painting the tape! Hahaha.
MF4
DFW, I agree. But, I would say it looks like a base is forming. Look for volume increasing as some brokerage establishes a position, before the pump and dump in the $2s.
MF4
ouch! Biotech has some real moonshots, huh?
Wasn't Jazz pretty much a penny stock too?
MF4
Christ,
I had a put spread on on DNDN in 2008. All it had to do was go up to $7.50 and I would have made 300%. Of course, DNDN barely moved off of $2 that entire year.
Look at it today. Sniffing at $40. Did I buy any at $2? Of course not. Pathetic timing. Sorry. I just can't take it sometimes!
MF4
haysaw,
I hope you continue to express yourself. Divergent opinions are welcomed by many on this board.
As an aside, I have often wondered where some people get their board names? Is Haysaw a tounge-in-cheek, hillbilly past-tense version of Hayseed? Just curious.
MF4
If RD proves sucessful for BVF, CORX becomes a credible source of new drugs. They are raised on the radar screens as potential MA targets. If, during the time it takes for RD to get to market, CORX can put together successful ADHD trial results, we are talking about a potential blockbuster deal.
These are big IFs, will take time and patience, and probably some additional funding arrangement, but it is within the realm of the possible today. Six months ago, I didn't think the IP would be CORXs in April of 2010.
I'd say things are looking a bit better than bleak.
MF4
GG,
I think I'm both. Investing is like kryptonite to me.
MF4
Put me down for unblinding SA right now at 14 patients. Is another 6 patients really gonna make a difference? In real terms, with such a small sample size, I don't think it's worth waiting for.
Quit wasting resources on the trial, which has taken too long already. If it shows some effacasy, sell it to another BP. otherwise, chuck it and move on. I don't think bad SA results will hurt the share price right now. Nobody is expecting it to yield anything. RD is giving us a brief tailwind. Don't waste it.
MF4
RBlatch,
Your points are good. The thing is, COR was trading at .30 for a long time when we were just waiting for news. Now, we have news. We have evidence that management is actually showing up to work and not just giving themselves options and playing golf.
We have a decent amount of cash without additional dilution. We have a legitimate BP willing to buy a molecule. We have some marginal evidence that hope is alive.
Is it the news to drive it over $1, by itself? no. But it does provide a floor to the stock price for some period of time. because as the momo's leave, investors will be willing to buy their shares.
What we have here is a reason to keep shares and maybe buy more finally. This is a real change from the last two years, when the trend was down. Arguably, that trend is now officially reversed. Any good surprise could result in a nice pop.
Some 10 years ago, I survived a similar decline in COR. I bought many shares for the bargain basement price of .30 and watched those shares hit $5 a few years later. That same scenario is once again a possibility, however remote you think it may be.
At .22, these shares are like LEAPs that don't expire. I like it.
MF4
All I wanted was for management to achieve something decent. They did. secondarily, I wanted some compound in the hands of a pharma with some modestly deep pockets. My third wish was for a nimble company that's not afraid to go after unconventional indications, and do it aggressively.
In Biovail, MV has accomplished all three. Bravo! Way beyond my reduced expectations.
As a bonus, we even get a conference call Monday. This is the first time in years that CORX has given me something to cheer about, If other posters want to dwell on the negatives, that's their burdon, not mine.
MF4
GFP,
Maybe MV was holding out for a deal with a company that was ready to hit the ground running with CX-717 in RD? It appears that Biovail is just that. Excellent turn of events. And why not use CX-717?
The monkey slide prep FDA failure was for chronic use. CX-717 proved safe and tolerable in other tests. It has a proven effect in RD. We just need somebody respectable to run a phase 3 for acute use of CX-717 in injectable form. I think it's a winner and Biovail was shrewd in making the deal.
How soon do we get the other $15M?
MF4
GFP,
I have time and sales with Fidelity, and I saw sales every few minutes. maybe your system has a glitch?
MF4
CORX could end up a story stock for 2010. When the year started, it was around .10 It's already up 100%, when it breaks resistance, I could see it slowly climbing into the $2s. Then when a good rumor hits, spiking up to $5.80
This is now truely a cheap option. If nothing else happens this year, the share price probably won't dip below .17 Just a guess. Windstorm here keeping me inside. Where I'm enjoying a richly deserved rum and coke. Cheers!
MF4
CORX has finally taken the first step towards realizing some value. It has partnered with a legitimate drug company and still retains some assets. I aplogize for my assumptions that this company was a scam.
Perhaps now, a base is in and prospects for the future have improved markedly. $10M now and prospects for $15M more in the future. If BVF sees some positive results when it does some testing, it seems likely that further, more profitable collaborations could ensue.
BVF is Canadian, which is good, IMHO. They had $820M in revenue recently. This is a big vote of confidence, and I think CORX is finally heading in the right direction. AMEN!
Thank you MV,
MF4
Having bought so many shares at $2.50 average. I couldn't resist adding 50% at less than a tenth of that price. They're going for .21 now with volume picking up. No word on the newswires yet. Penny stock fun to be had by all.
MF4
I just saw about 100,000 get filled at .175 or better.
Does anybody have some insight into Biovail (BVF)? It looks like they're trading near their yearly high.
MF4