SPPI is a biotech to watch for the future, unlike GNVC which looks to be about to fly right now (nice call hand, been on my watchlist for a few months). Prices are reasonable right now, but the prices will fly if one of these two things happen. First, watch big zevalin sales in the Q4 earnings report (1st full quarter of zevalin sales). Second, watch for Fusilev FDA approval. Either of these will be a catalyst for a major move upwards in the pps, and both together could really send this soaring. All IMO of course, but this is the only biotech I am in long term for a reason. Lots and lots of upside here based on lots of forward looking events, the 2 mentioned above in particular. Most importantly, it is extremely rare to see so much insider buying in a small biotech like SPPI. Very very good sign. Worth at least keeping it on your watchlist. I think anything in the low to mid 4's are safe for an initial position. Once news hits, this is great for a swing trade as well (I am keeping a trading position in this too along with my long term position).
In the meantime good luck trading everyone, looks to me like we hit bottom or very close to it on this recent correction. Slow but sure upward move coming soon IMO. Time to start buying again if you haven't started yet!
