Re: Anyone notice?
Yesterday’s inside bar was a good indicator that some movement was still coming. The pressure from the beat down following incontrovertibly good followup data strongly suggested that this would be an up day. Let’s see if more upgrades makes this into an OPEX surprise for the shorts next week.
Next week could well be when many shorts bank profits and move along to some other target. They may have been our problem for a week (certainly also since March 2018) but they don’t care if they make their money shorting SGMO or some other biotech with cash flow uncertainty. At some point they move on, if only till the next overbought situation. I don’t want to join the permabull orgy but next weeks price action could be exciting and surprising.
The risk lines up well from here. If 13 is the new 20 (per Ryno’s accounting) I’d suggest that the risk today is much less than the risk last year at 20. The juice from 20 to 27 was largely momentum back then. Today the pipeline is very different yet the entirety of the future outlook is very positive relative to risk.
If you plan to trade the stock then selling opportunities are now on the horizon. (I missed Monday but glad Bras, Shammy and others took some profit)
Those who are buy and hold fanatics should be done here by/buy now. Come back after ASH and count your chickens then. You have no reason to be counting eggs here today. It diminishes the supreme glory of your misplaced “I told you sos” every time we get a pop in pps.