Well, if you have actually ever paid attention to what I've posted, I've always said it is a good trade. And I have admitted I've done it myself.
But I see too many people being sucked in by the hype. If you have been here a while, you know what I'm talking about. It happens every time that this gets ready to run. In fact, it is a good indicator of something is about to happen.
We get these people here posting BUY BUY BUY. Then a few weeks later the pump...and the dump. What kills me the most are the ones who keep posting every bid and ask and size. Like everyone here can't see the exact same information. Then you get the ones who it is obvious that they no nothing about the company. They don't understand the share structure, how diluted this is going to be, or how many times this company has done this in the past.
Then there is the company itself. They failed in the last drug they got to an NDA. And if you had been here then you would have seen the EXACT same thing as we do now. The posts are all there, on this message board, go back and read them. Find some of the posters who long ago gave up and moved on. Ask them if it looks any different this time. And if you want you can ask who warned them about the pitfalls here. :)
As for ASCO, you are right. There will be stock pops from ASCO. But this is not like it used to be. Back just a few years ago the Abstracts were not available to the public until the day of the presentation. So each day during ASCO we would all wait with anticipation of something to come. If you were lucky, you had stock in a company already. If you were real lucky (or good) you has sources who told you which companies had positive stuff. I followed about 20-25 companies back then. We had groups of friends who followed others, and we shared info. And we would make a lot of money.
But it is different now. Now they release the information to the public a month before the conference. And they do it because only the insiders, and people with sources, made any real money in the old days. By the time the information was public, we already had our sell orders in.
The Genta presentations were posted here within hours of the information becoming available on May 16th. So the effect is muted.
There will be over 4500 presentations at ASCO this year. What a lot of people don't understand is that ASCO is a scientific conference. As such, some of the presentation are not necessary all positive. It is not intended to be a place where companies can go rah rah for their company. It is intended to be a place where people researching cancer treatments can come together and talk about their work. Positive and negative. Sometimes they learn just as much from a failed trial as they do a positive one. That is what ASCO is all about. It is not about money. It is about solving the problems with cancer.
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