I have to say it still astonishes me about all the posts about daily price movement.
We will not get HEAT data until January. We may get some PR about the HIFU trial enrolling or DIGNITY/ABLATE blah-blah (I doubt this, BTW, mgmt has the IMO nice habit of NOT releasing "fluff" PRs), but nothing else really matters for us right now until we find out about HEAT.
We're at year end, with the additional impact of tax selling due to fiscal-cliff tax-increase-worries, and we've had a recent run-up, with a barrage of negative articles (barrage, hah - more like 3?). A combo like that naturally means the momo players start moving out as soon as their charts tell them it's going down. With a recent rise, it brought out extra short sellers, who naturally short biotechs on the verge of results - historically it's a good play. And nervous nellies who bought in late will be selling early.
Most longs who know the story pretty much exhausted their dry powder already. For example, my last "large" buy was pretty much a year ago when we were in the $2s. If I had more, I'd already have bought in the $3s, or $4s, or $5s, or $6s... good grief, people chattering about going from $8 to $7?
Sorry for the venting post. If you're worried, sell. If you're a trader, make your choice on your TA.
If you're an investor, take this time of "worry" and make your decisions about when and what prices you truly will sell at, and set your limits. Much better to do this when you are realistically worried, and not when SP starts acting bullish again and you get swept away.
Last note, I am personally agnostic wrt Jan13 options. I see no impressive arguments that we will get data before the Jan13 opex. We certainly *could* but nothing with certainty. Last time I spoke to Jeff Church I asked if the final data scrub would take less time because they'd already done 209 at the interim scrub. His answer was that they'd redo it all. One because obviously some of those patients continued to accrue data (dr visits/scans, etc) and two because this data is the most important of this company's life. Getting it right is more important than doing it quickly. Ten weeks from the 380 PR is exactly one trading day AFTER Jan opex.
GLTA
Trond Hildahl
AI
