Traders stacked the auction this morning to start the price at...

Traders stacked the auction this morning to start the price at $1.32.

Given the volumes being traded, it seems to me that people with likely much greater insight into the Novartis situation than most if not all on this board, are now buying from those traders - at last look paying $1.38.

Novartis will be forgotten in a years time - it is the trial results that matter.

Whilst I'm well underwater atm, this is a great opportunity to see how the traders react to news leading to the SP inevitably overreacting to news.

For the longs, its just best to put Warren Buffet on repeat, whilst trying to judge when that knife has hit the floor! For me, I've just got to learn when to take profits (or at least the highs)!