Jeffrey,
Since I blew my horn so hard on CYGN, I guess I owe you a case . . .
CYGN has been very quiet since the committee recommended the GlucoWatch for approval. Deals for commercialization being discussed. Full approval has not yet been granted. Many believed the GlucoWatch was not accurate enough to get approval. But it's mainly to alert the wearer in real time to dangerous trends in blood sugar. Super accuracy is secondary here. Shorts that did not understand this were surprised when the committee approved. Check the testimonials of diabetics (a couple of whom posted on the CYGN thread) to see why this will make it in the marketplace.
biz.yahoo.com
Message 12213448
Message 12215814
The company has some convertible debt, and issues shares in a steady dribble as it is converted. The most recent batch converts at $9.50.
Amerindo has been lightening up, but most institutions have been steady, and there has been net buying lately due largely to a buy by Cripple Creek, who oddly, were sellers not so long ago.
sec.gov
sec.gov
CYGN beat estimates last q, which made my put sale a good one. I traded this one since before committee approval in December. 15 - 16 is an important support that has held several times. Below yawns the gap from the approval. The chart is technically compelling from a short-term perspective. Stokes and RSI flashing buys, not sure what the MACD means here. For two option cycles, this one has bounced reliably to 18 or better to make the 17.5 puts I sell at these levels worthless.
Finally, note that most of the shorts are still around. Though the most recent price target I've seen is $23, the short squeeze potential makes that seem very conservative. Shades of CLPA, no? Except that approval is a fairly high probability for CYGN, while CLPA's is still in doubt.
OK, that's all for today. Gotta solve my tax snag someday. A dip in the jacuzzi, some dinner, then at it.
Hope you enjoy my digging today.
Cheers, Tuck |
