BOUNCE

[gambler2075]

AVNR: What craziness today... I had done a ton of DD on AVNR (~10 hours) as I figured it had the best chance of all the october PDUFA applications. I still wasn't sure about holding through the PDUFA... I finally bought yesterday about 70K shares at 2.83 or so, and today I was watching at 3pm as it absolutely tanked and I was down 80K$ in just a few minutes. And this was at 3$ a few minutes before. I was stunned. I figured that the drug had gotten rejected, yet I could not find the news anywhere. I was about to put in a market sell when the stock was trading at 1.69 but I hesitated just long enough to decide "Screw them... I'm going Costanza on this trade!!!"

This required PhD level contrarian skills :P

I actually decided to ADD 30K shares at 1.78, and watched as it started recovering... 1.80... 1.99... 2.00... 1.95... should I sell? 2.06... nah, lets hold... 2.20... 2.30... 2.40... 2.49... finally I decide to sell out 20K shares, because I felt I didn't want to go more than 80K shares. By this time I was almost break even and was planning on getting out with just a small loss.

But I decided, again... SCREW THEM!!! I am going to hold!!! Wouldn't it be crazy if it was approved?

It felt like an eternity as I waited another 30 mins until the market closed, and then the AH trading.

Then I saw the bids/asks disappear and I knew news was pending. At this point I had 80K shares and I figured they would delay announcement if it was a CRL so I thought it was likely to be approval. Then the news...

I decided I was the luckiest guy alive and was going to sell as soon as the trading opened. I actually managed to hold out until 6:42pm (7 mins after it opened) and then started pretty much panic selling :P

Total in Etrade account: +172K$
Total in Bofa account (no screenshot) +20K$

http://img258.imageshack.us/img258/857/20101029etrade.jpg
http://img218.imageshack.us/img218/2162/20101029avnrsells.jpg

192K$ was definitely my best day ever.

g