Hiya Greg,
I agree the arguments remain the same. There's not much to talk about here unless we get some indication that Abbot is selling product. Shorts always felt the drug would be approved, but that the market was overstated, as one or two other companies have tried to market a similar product (supposedly Gensia was one, but that product died so quickly I could never find evidence Gensia's partner was doing anything with it, and Gensia said nothing about it after a while).
Mr. Bockler's interview suggests to me that the market is there and that Abbot is actively going after it. Presumably he talked to a couple of people (like docs) that have used it. This is still a gamble (or the stock would be in the 30s by now), but the picture seems clearer and favors the bullish argument, IMHO.
My strategy here would be to buy a few hundred shares and just see what happens. Maybe write calls until the end of the year, and then buy a few protective puts when the sales figures are about to come out.
If the figures are good, we could see quite a short squeeze.
Otherwise, it heads for penny stock land. Rather like the situation at Isis these days, though even starker (as BTX doesn't have as much value in their pipeline as Isis).
Things are still looking bearish for the market, and I am close to the end of this round of nibbling. May take a short postion in something (maybe LASE?) soon. Starting to figure how many shares of BTX and what my entry target is. The market may take it down a little further, though it is near lows, but given that the big news is not due till the end of the year, we all have time to think.
Cheers, Tuck |
