Talon Therapeutics Inc (fka TLON)

[errett]

I have always been puzzled about the belief that the market is logical. The market is composed of individuals and algorithms. The algorithms are designed to take advantage of the inefficiencies in the market. The inefficiencies exist because humans are not very logical---as is obvious by the anxiety on this board about price action. Profit taking is logical as is shorting an over-bought micro-cap bio stock after a substantial move up immediately before a major event i.e., a FDA PDUFA. The probabilities that we aren't approved are greater than we are approved. Doubt creeps into the mind, and if they are up in their position they convince themselves that it just might be better to book some of those gains before the event. They have lost before and the lesson learned is deeply ingrained. I speak from experience unfortunately. I sold into the rally and re-entered at 1.11 with my gains plus some----but still the anxiety plays with the mind. I expect the same action to continue even though nothing has changed from 2 weeks ago or whenever it was that you originally joined the party. What happens is that you develope a scenario in your mind driven by greed that you find gratifying, and when events don't play out as imagined the fear level starts to increase. There is no perfect solution for this problem. Our fear of loss is a very powerful force. All we can do is to stay focused on the DD and hold firm.
It reminds me somewhat of the series "Band of Brothers" where one private seems to freeze up whenever they engage the enemy. He is told by an officer that his problem is that he still holds on to the hope that he will make it out alive. All he has to do is accept the fact that he isn't coming out of the war alive---he in fact will certainly die---it is just a matter of how he goes---it is the only thing he has control over. Take the fight to the enemy stay strong---GLTA