Thanks Ammie, I was a little disappointed myself. Thought it may have come home after one day
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The dramatic drop after yesterday's high shows that the shorts were back. I suggest they borrowed their shares once it hit $5 and proceeded to dump. The course of sales also demonstrated the continual pushdown to $4.40. It's a great swing trade if you can get it. Personally, I didn't do as well out of it as normal as my two trailing sells were triggered. but didn't fill. Too many on-market stole the show. No doubt big chunks of shorts. The first time it has happened to me. As such, my own on-market was too late as I didn't have it prepared. I then went a brought again too high.
But not to worry. It still finished in the green and likelihood of a repeat today. If not, there will be plenty, plenty more of great opportunities to come.
I'm returning to work today so will have to play the game intermittently. Damn work, is the curse of the trading class.
@Griffin007 I wouldn't be too concerned about MSB and the outstanding FDA on pHvGD. Yes, the overturning of the ODAC 9:1 vote was a small set back, but that will be overturned with the next administration, and besides, that treatment will be significantly less profitable compared to the
next three phase 3 readouts coming this year, although still significantly important for the sake of the dying kids who are now missing out on it. It seems that death from illness is the new norm in US politics.
But you are right in general when it comes to Novartis likely to be an assistance when it comes to future FDA decisions. Fortunately though, the next ones will be spoken for by the science, whereas the pHvGD was missing some of the science, which is part of the issue in treating children. The next readouts are all for adults.
