hello asuhowe, I am really hoping that I am right on the low, but even if I am not, I am buying on dips from here for sure, all I can, but not anything i can't afford to lose.
best lesson i ever learned in bio investing was centacor, (i think that was the name,) from 50+ to 5+. i swore then that i would try to pick them near lows. Cor has been good to me, but I have never sold it at the exact top, but I have been fortunate enough to buy them near the bottom a bunch of times.
i thought i had bought near the bottom this year avg. in at 1.14 early on. listened to the presentation where cortex sounded so sure that the fda hold would be lifted, so i held through that event, very happy, then assumed, like the rest of us, that the ind would be approved.
the luck this year was that I wanted to be in mostly cash through Oct. I sold off almost all of my positions but Cor, which was by far my largest, and a couple/few others that were down, and posted so on ihub......
anyway, i slept on it, thought about the upside being only about 1.90 if approved, and the downside being about a buck if not. it was jmho. so there i was sitting on profit at 1.70, wanting to be in cash anyway, and the risk reward in cor just looked weak going forward to me on that day. so i figured, take my profit, if i miss a cor run, i know it will drop back, it always, in my mind, does......
i would have to go back and look at my posts to see my exact wording about cor's cash levels during past lows. They get creamed somewhat each time they do a financing, of course, but this seemed different.
I think it is more that I have seen Cor work wonders with money in the bank so many times, that them not having to even worry about funding for a year, was always a bullish sign for me, and then still having 6 months back up in the bank, well I sure don't remember them being in that good of shape at a yearly low, but I don't have hard numbers as I never kept any.