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Yes, matter of fact AFFY's only hope would be if Takeda thinks there's something to salvage and buys them lock, stock & barrel. Highly unlikely: they're toast.
Thanks much. I follow you every day, will chime in if I ever have anything worthwhile to say.
From 2 knowledgeable biotech Twitters:
" 8-K translation: "We're F*ked""
" 8-K reads like an epitaph."
AFFY- Yeah, it's setting sail like the Titanic, straight for the bottom of the ocean. Be careful with this one.
Bought some AH much higher than $5.40 but I think that you're on the right track about a gap up in the AM.
Been loading up on National Bank of Greece (NBG) under $1 while some others have been suggesting that the Cyprus stuff is the End Of The World. Hardly. IMO it's going to be settled equably, NBG will be the first to rebound strong.
Best of luck.
Did you get filled?
NBG Added .9501.
NBG Going to add again if it dips below .95 in the last hour.
Yeah, just develop a bad cough and chug all you want!
...new chocolate flavored cough syrup
Just wanted to get my average below $1.
Depending on what happens during the day, they always seem to dip it to rock bottom in the last 3 minutes of the day. Will be looking to add again then if .93 or lower.
NBG- IMHO tempest-in-a-teapot. Two small banks on a tiny island. NBG is the most visible target for collateral damage.
Cyprus parliment already said they're going to vote plan down. Looking for pop over $1 this week.
NBG just added some at .93.
Any thoughts on NBG?
I'm familiar with that story, but I'm just a tad skeptical. Many companies deliberately throw around those sort of names ("Warren Buffett bought a company just like us" or "We'd be a perfect fit for Bill Gates" etc., etc.)
The vast majority of the time it turns out to be nothing.
It would certainly be great, no denying that, we'll see.
Best of luck.
Added to NBG right at the close, $1.
Bought 10K more two minutes before closing, I'm building a sizable position around $1.
This is an excellent article about the whole situation:
http://www.benzinga.com/markets/bonds/13/03/3404279/is-it-time-for-investors-to-go-greek#
Good to hear from you again, I hope things are going well.
CLF: DewDiligence is a knowledgeable long-time holder. His assertion is that "CLF is likely to get a buyout offer or attention from an activist shareholder to start a proxy fight."
As the valuation gets more and more ridiculous, the likelihood of one of these things happening rises.
I don't know if you guys still play your "one-dollar-boogies" but I went in fairly big yesterday on National Bank of Greece (NYSE:NBG) at $1 - $1.01. Risky but great potential.
Best of luck.
For some strange reason there has been a flood of anti-robotic surgery articles lately, even though every surgeon in the business knows that it's the future of surgery.
Do Americans (including myself) lose everything? I thought the stock continues to trade, maybe on the OTC market - but at a much lower price.
Y.- Just bought in today when it hit $1.
Yes, the exchange does matter. Either the NASDAQ or the NYSE is fine, but the vast majority of both retail and institutional buyers will not invest in OTC stocks.
Most knowledgeable investors don't care when a bank has a reverse split (it's quite different if the company is a biotech, for example.) Very often it's for the best, and the PPS rises.
Under $1 is a huge psychological barrier for American investors! For many, that is when they sell. For others, if the stock has been trading above $1 for a long period of time, it's when they buy because they feel that the stock will quickly "jump back" above $1. A bit hard to explain.
Best of luck! -Gary
CLF- As much as I hate to say it, it's a magnet for sub-$20.
goes to show that everything bounces,lol
In the future there'll be one and only one brick & mortar store where you'll buy everything you need in life (it'll include a maternity ward and a cemetery.)
And the name of that store will be Walmart.
Re JCP: Don't know if you saw story from Business Insider about "stealth layoffs": http://jobs.aol.com/articles/2013/03/07/stealth-layoffs-at-j-c-penney-reports-say/
J.C. Penney Co. is quietly eliminating more positions in its stores company-wide, sources familiar with the matter told us. Store managers watched a "secret broadcast" on Tuesday afternoon, where they were informed that stores must prepare to "work harder with less" in 2013.
"Service Leaders," "administrative assistants," and "office/cash room associates" are being cut from the hierarchy, effective April 5, sources told us. There's no word yet on exactly how many people the cuts will affect, and there has been no official announcement from J.C. Penney. The company did not respond to a request for comment.
One company exec told us that the number is in "the thousands," since every store has administrative assistants and cash room associates, and James Covert at the New York Post reported that the final tally will end up at 1,500.
Here's the link for Ameritrade, they call it their Apex service.
https://www.tdameritrade.com/trade/apex.html
All you need is 5 trades per month, or $100K in your account.
I tried pure day trading for about a week back in the late 80’s but I had to stop before I had a simultaneous heart attack, ulcer, stroke and nervous breakdown all while suffering severe diarrhea.
I don’t know how you folks stand it!
CLF: Averaged down big time at yesterday's close and again right at the opening this morning.
I believe that I'm actually going to make some $$$ on that sucker!
Yeah, I had a vague hunch that you guys weren't DD fiends!
My total WAG is $4'ish with a move to $5. If it goes to $1.50, sell the wife & kids and buy!!!!
DEPO: No position and not a big fan of the stock, but no way it's going that low.
J. Napodano live Tweeted from the ADCOM this morning, when someone suggested that it might drop as low as $3, this was his response:
"Yeah, no way it goes to $3. They have $1.50 in cash, $2.50 in Glumetza royalties, $1 in other royalties form Merck and J&J, etc... Gralise & Zipsor are worth $2-3 per share."
That's also my best guess for CLF drop today, they're heavily leveraged in China real estate & construction.
China just announced a 20% tax on the sale of homes in an attempt to stop rampant speculation. Might be a reaction to that.
What the $%#@&* is with CLF?!?!
StarMine, though owned by Reuters, is a subscription website, not free.
Re PTN: FWIW, some talk that while the company says that the results are statistically significant, in reality they're not clinically significant (not great enough to have any practical relevance in actual use.)
Might be one to sell-the-pop.
DEPO: No position, just watching with interest.
The general consensus agrees with you: there doesn't appear to be any red flags.
Unfortunately, the last time I heard those words was about DVAX when a very experienced and knowledgeable biotech guy told me that he read the ADCOM briefing docs extremely closely and there should be absolutely no problem.
Ha-ha-ha.
I'm not sure that the appearance of good data means very much more than a vague and risky possibility.
LOL, I tried to tell people that that sucker was not going to be approved, it seemed obvious to me, but what can you do.
And unfortunately, you're probably right about DC.
I agree, what bothers me though is the vicious partisan name-calling from both sides. More waste.
President Obama inherited the whole bloated system from Bush, who had inherited it from his predecessor, who had inherited it from his, literally back to Washington. Literally.
The old saying about asking the pigs to control the trough is very true, and like many others, I don't know what to do about it. But perhaps if both sides stop the political nonsense and work for the good of the country, some middle-ground compromise can be found.