***Official*** 2011 Stock Market Thread

[eLiu]

jesus christ...

well, i'm walking away from my computer folks, no sense in trying to sell and buy it up cheaper. i thought it was going to open below $25, but $12?

f*#%

This is depressing. I assume you're going to sit on your shares and wait? It's "up" to 14.5 now; do you think the swing down to 11 was some kind of epic over-reaction or are we really going to be opening around this level tomorrow?

Now I'm torn on whether I should be putting any more money into hgsi or dndn. It's so much harder to determine when (if?) doctors will gain enough confidence or whatever to prescribe provenge more. And how this affects benylysta's (sp) prospects.

edit: I really thought these drug stocks were among my more "sure" plays, haha. The science half of matters is good & easy to understand. Apparently that's not enough. Fuckity fuck fuck!

 

[Azurik]

This is depressing. I assume you're going to sit on your shares and wait? It's "up" to 14.5 now; do you think the swing down to 11 was some kind of epic over-reaction or are we really going to be opening around this level tomorrow?

It's an over-reaction. There are some big holders of this stock (including 3 billionaires who got on board late).

With a rationale head, I think someone without shares would be screaming and kicking to buy at $12. When you're already in it and down $80k+ or so, it's a different story no matter how hard you try to leave emotions aside.

But yes, I'm sitting with my shares. No sense in selling at this price point.

 

[eLiu]

It's an over-reaction. There are some big holders of this stock (including 3 billionaires who got on board late).

With a rationale head, I think someone without shares would be screaming and kicking to buy at $12. When you're already in it and down $80k+ or so, it's a different story no matter how hard you try to leave emotions aside.

But yes, I'm sitting with my shares. No sense in selling at this price point.

Oops, I didn't really express myself at all w/that second sentence, wow. Been a long day at work too :/

What I meant to ask is whether you plan on purchasing more shares, haha. Yeah I totally agree, there's no way I'm selling. I guess nominally I don't mind waiting many more years (??? lol) for the good times to roll again, but not about to let shock/horror make me do something rash.

 

[AUMM]

oooooooooooouuuuuuch =(

 

[endervalentine]

bah! this hurts! I even dropped a few grand on it this morning, didn't figure it would drop this much. oh well, guess I stick with my crappy car for a while longer.

 

[senseamp]

I am surprised Medicare pays $93K for a drug that increases life expectancy by only 4 months.

 

[PeeluckyDuckee]

DNDN's fall makes the market action in the last two weeks seem like peanuts. Sorry to hear for those invested. I've played the biotech earnings game before foolishly and have lost 60%+ overnight so I definitely feel your pains.

Meanwhile gold and siver are continuing to make head gains. A dark cloud over the market and economy and many people cash out of the equity market.

 

[Pliablemoose]

Wow, I was dating a woman who is responsible for getting data to the FDA for drugs for a big biotech, and she'd told me DNDN was the real deal (not made by her company BTW) I had some for a bit, but it was too slow for me, dumped it long ago. Sorry for those who got burned

 

[Azurik]

Wow, I was dating a woman who is responsible for getting data to the FDA for drugs for a big biotech, and she'd told me DNDN was the real deal (not made by her company BTW) I had some for a bit, but it was too slow for me, dumped it long ago. Sorry for those who got burned

It definitely is the real deal - a big breakthrough in modern science. Although that doesn't stem the bleeding and that management gave an overly optimistic projection... not that any shareholders doubted it. It seemed feasible if things were on track. We overlooked an important aspect with the reimbursement issue would cause near-term troubles.

Too many people (me included) counted their chickens before they hatched. They're still going to, but now we know they need to incubate longer.

 

[HopJokey]

It definitely is the real deal - a big breakthrough in modern science. Although that doesn't stem the bleeding and that management gave an overly optimistic projection... not that any shareholders doubted it. It seemed feasible if things were on track. We overlooked an important aspect with the reimbursement issue would cause near-term troubles.

Too many people (me included) counted their chickens before they hatched. They're still going to, but now we know they need to incubate longer.

The gist of it is that the massive AH drop isn't about the 15% Q2 revenue miss, but the forward guidance which says revenue for 2011 will be around < $200M instead of the previous $350-400M as projected.

It seems there are some massive growing pains and current mgmt isn't up to snuff. The CEO of DNDN has always sold his stock grants and did do so again this time right before today's debacle.

 

[FelixDeCat]

I am surprised Medicare pays $93K for a drug that increases life expectancy by only 4 months.

Azurik and I went on about this a few pages and a few months ago. And now that America is bellying up to the bar, I wonder what reality will mean to unrealistic Medicare expenses. We cant borrow /spend ourselves into oblivion any longer!

If you cant afford it, you dont get it. I hate it, but you cant buy what you cant afford....unless you want to see 70&#37; top tax rates like we had in the 1970s. If America wants that, then go ahead and do whatever.

But until the drug industry stops trying to money grub American tax dollars by focusing on designer / high cost / the sky's the limit / no competition ever type solutions (aka monoclonal antibodies), we are doomed. MAs are all they want to make now and we are paying the price. Forget affordable prescription drugs, and get ready for "treatments" that cost tens of thousands if not hundreds of thousands of dollars. See my previous post in this thread.

I have been personally affected by this and know this issue backwards and forwards.

 

[Dubb]

hmm. I may finally jump in or DNDN now. I don't have a ton of free cash right now, but maybe I can pull a few $K into it tomorrow morning. I'll watch what it does before the open and decide then.

 

[FelixDeCat]

Oh and sorry to hear about your paper loss Az. Maybe you can sell calls for a few months to repair some of your investment.

God bless and good luck.

 

[lothar]

I am surprised Medicare pays $93K for a drug that increases life expectancy by only 4 months.

And people are surprised at why Medicare is inefficient...

Instead of paying $93k worth of taxes to extend my life for 4 months, I'd rather leave that $93k for my children and grand children to inherit or donate to charity rather than give money to government to subsidize Genentech.

Medicare also paid $$$(look up how much it costs) for 4 years and will continue doing so...A drug that has not been proven safe or effective in extending survivability among breast cancer patients
http://www.reuters.com/article/2011/06/30/us-roche-avastin-cms-idUSTRE75T50H20110630

Medicare does MANY stupid things.
I am in the health care profession and I see it every single day.
I'm not sure why anyone would be surprised by this.

 

[Imp]

jesus christ...

well, i'm walking away from my computer folks, no sense in trying to sell and buy it up cheaper. i thought it was going to open below $25, but $12?

f*#%

Jesus Christ... Got curious and checked out DNDN. Down 62% aftermarket.

 

[lothar]

The market wants long term cuts but short term stimulus. We only got the former. Until the policymakers get on the latter, I'd take a wait and see approach.

We got neither.
$2 Trillion worth of cuts is nothing and won't make any dent in the deficit.
Without the cut, the debt would have risen to $28 Trillion by the year 2021.
With the agreement, the debt will rise to $26 Trillion by the year 2021.

What we needed was Tom Coburn's plan.

 

[zimu]

hmm. I may finally jump in or DNDN now. I don't have a ton of free cash right now, but maybe I can pull a few $K into it tomorrow morning. I'll watch what it does before the open and decide then.

me too I just put in a market order that's queued up for $20k tomorrow morning. Been cashing out my shares last few weeks given this financial fiasco so been sitting on a lot of cash wondering what to do with it. Even if it goes up to a fraction of it's previous level I'll still make a killing!

 

[Imp]

me too I just put in a market order that's queued up for $20k tomorrow morning. Been cashing out my shares last few weeks given this financial fiasco so been sitting on a lot of cash wondering what to do with it. Even if it goes up to a fraction of it's previous level I'll still make a killing!

Ha, piqued my interest too. Just have to research the company, but all my money is "taken" right now and un-moveable with the market crashing.

 

[Azurik]

Welcome back 2008.

 

[eLiu]

It's hard to take solace in the fact that I'm still quite young so as long as dndn+hgsi come back in the next period of years, it'll all be good.

Ugh, why did news like this have to come when the market is already shitting all over itself?! dow off 250 points at the moment, geez.

 

[Aharami]

I REALLY need to go ahead and invent that 24hr time machine

 

[manlymatt83]

My QQQ puts and SLV calls are up huge today.

Now I need to learn when a good time to get out is. I always lose there.

JS80, etc: Do you guys always sell your options after a 60-100&#37; gain no matter what you think the market is going to do? Would you maintain a smaller position in case tomorrow is another down day but sell most of them?

 

[JS80]

My QQQ puts and SLV calls are up huge today.

Now I need to learn when a good time to get out is. I always lose there.

JS80, etc: Do you guys always sell your options after a 60-100% gain no matter what you think the market is going to do? Would you maintain a smaller position in case tomorrow is another down day but sell most of them?

I've been out because too busy at work, but in general I sell after it reaches my "target" usually share price vs % gain

 

[Mermaidman]

Geez. I came in here to gripe about my stocks and then I read the DNDN nosedive.

So now I'm tempted to get on board :hmm:

 

[IHateMyJob2004]

So, is this selloff a panic based self off by retired people?