I'm pretty much hell bent on trying to catch this bounce on CLSN. I can't believe this stock is down over 80%, and is struggling to get a decent bounce, and I don't care about Phase 3 study results. Anyways, went long just 1000 shares yesterday at 1.53, but got stopped-out this morning at 1.39 for a -.14 point loss. After a hammer formed after I got stop-out, I decided to go long again at 1.35 but this time buying 2000 shares instead of 1000. I'm doubling down on this crap! The market closed, and for the first time in a long time, I'm holding a stock over the weekend. Good-luck to me :-) !!!
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Have a great weekend, and Thanks!
2 comments:
The best dead cat bounces in biotech stocks come off of drugs that have passed through Phase III trials and get mixed reviews at an FDA panel a couple months before the official FDA approval decision (i.e. DVAX on Nov 15, 2012) or the drug company gets an angry letter about safety (IPXL on Jan 21, 2013 or NVO on Nov 6, 2012) Drugs are frequently required to go through further safety trials if they are proven to be effective and will rebound, but Phase 3 results that don't meet an end point is dead in the water. Just my 2 cents...
You're probably right ChTroy, I'am done with stock after today or tomorrow.
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