closed the week at 22 5/8.
shorts in biotech are embracing dogma..... they have seen companies go up and come down, based on unrealistic hype. the pattern is typical, so who'd blame them.
trouble is, research premiums have been beaten on and beaten on since 1996.
it reached a point where a dollar can be purchased for a dime.
the dogmatic among our readers will come back and say "yeah, but a biotech buck is worth a dime."
when I talk about a dollar, I talk about historical research premiums, and about "bets" placed on future value. We know from the Amgens, Biogens, Genentechs, Immunexes, Agourons, Genetics Institutes, Idecs, etc. of the world that a diversified platter of such bets can pay enormous returns. Thus, I'm talking about a buck pre-discounted for risk. T/FIF bucks.
there are 10-baggers out there. none of those who are shorting BCRX count on it being among them, or take the time to value a model where the BCRX neuraminidase inhibitor could be the preferred molecule.
they should, but they don't
I haven't done such either, so I don't have an opinion on the current valuation.
we're in the wrong thread.......
Subject 29631
There were some interesting setups this week, perhaps including Biowa's run to ICAAC. OSIP was certainly weak, low volume selling not being met by a buyer.
I had a good -- not great -- week, largely due to some lucky timing/trading and throwing in an assist from the esteemed folk at Biotechnology Value Fund. Hope everyone else did as well, and that everyone has a great weekend. |
