Tuesday, February 13, 2007

Night Cap

At one point in the day I was up about $750 bones. Then SIGA decided to release news, and the "sell the news" losers took the bait and ran it back down. I sold 2K SIGA at $4.13 for about a 50 buck gain. That really sucked after being up almost $1000.00 on the position. I imagine the same cycle for SIGA will repeat in a couple of weeks as another run up happens in expectation of the Human trial results for the Smallpox vaccine. Next time those bastards with inside info won't get the better of me. I'll let them run it up before the next release, and then I'll sell with them.

MVIS showed some signs of life today. I hesitate to say it has bottomed though as that will surely mean I will get punished more tomorrow.

CEGE is looking good, as is ONSM.

CSX was the unexpected standout (+3.77%), breaking out of a long base and gaining well over 1 point from my purchase price. If I have time later tonight I'll post a chart.

Overall, my account was plus only 14 bucks for the day, mainly due to losing my unrealized SIGA profits.


Anonymous said...

Why did SIGA drop to 4.13 if the press release said they have begun their second trial?

I don't understand.

Woodshedder said...

From what I understand, the news was released on a gov. website (NIH?) prior to being released in a PR. I believe that is why there was a ramp up in price over the last few days. It simply was a sell the news event. Also, it seems that the first human trial results have not been released yet, which undoubtably led some to question if the results were good. If good, why second testing? If good, why not release results? Me, I don't care about that stuff, I just try to make a profit and take small losses. I get worried when a stock sells of hard on good news, and that is why I sold. I may reenter today if the trading action warrants it.

Anonymous said...

Ah I see, that makes sense.