Ms Otter,
Remember a year ago IMGN was 1 3/4, 9 is a decent return, even though some people don't think it is enough.
I covered my IMGN short, all my short positions Friday except GBUR, probably about a week to soon if my trading history is an indication of the future. I bought back all my IMGN trading shares,added 1/4 to my IMCL, 1/3 to SYBB.
Watching the bios, IMGN was very very strong as the naz was on an upward trend, and very very slow to sell off as the naz would resume its downward trend. I am entrenched untill a firm uptrend is established.
I hope no one buys based on "news coming soon", or "new partnerships any day", as I suspect many people bought at higher levels based on this type of speculation, and I believe it is wrong to raise someones hope based on trying to time the next announcement.
Dr. Sayre is coorect when he asserts that they will release meaningful news as it happens. Everyone can tell he is upbeat on their technology, but every thing they are working on will not be a breakthrough and there will be times when they revisit the drawing board to modify the technology.
What happened this week in the market was good for the overvalued techs and internet group, but many hard working people buying profitable companies with increasing revenues, and doing their homework and investing in the best biotechs, were literally ROBBED by the same forces that were taking profits in the high techs, and I feel sorry for them.
I have the highest regards for IMGNs technology, their pipline, even better then IMCL, but they are not into phase 2/3 work yet and drugs are still years away.
Good luck, and thanks again for SYBB. |
