SwingTrade Member Forum

[TechKim]

PGNX: Several weeks ago it went down into the $5's where I was a buyer. PGNX has been basing well around the $7.15 area since that time (important). Until this Friday it did dip below $7. Prior to dropping to this level it went to $8.30 area. I did not take profits. I expected a FDA decision, not a delay, even though it is on the fast track (disappointment). Somewhere in the $6's would not be a bad bet in my opinion. I would again emphasize using pocket change as Rawnoc use to term it. You might want to buy in thirds averaging down or up (BuzzOnDaBeach preference). I did not third average as I had a better opportunity some weeks back and I chose two fills 50/50 instead of one (my preference for small fills at the time).

I would set a buy at $6.75 and work from there. Risk is not as bad, as many of these bio tech stocks who are all about one product. https://www.progenics.com/ I do not readily see it running down into the pink sheets at this time on bad news.

Time: "U.S. Food and Drug Administration (FDA) that the Agency will extend its review of the New Drug Application (NDA) for AZEDRA® (iobenguane I 131) by three months to July 30, 2018."

I emphasize caution as always, when playing with bio-fire crackers.
Playing with pocket change it is a lot easier on the nerves. Pigs get fed, Hogs get slaughtered. Light play with a light reward. Lunch money.

I trust this answers your question and a little more.