Thanks, IJ!
March short interest figures will be interesting. Sure wish figures could be made available for Thursday, mid-day...........
quote.yahoo.com
Note that there was no rush to "buy the bargain" (or cover, "perhaps and whatever") for the lockup issue, LEXG.
In biotech, it's generally wise to go where it's most bleak, if your move is backed by sound science. The lockup stocks provide for plenty of liquidity down here. No hurry, IMO, however. LSBC, VGNX and TELK all put in days that were better than +15%, however, so maybe supply is beginning to dry up a tad??
Easy targets, biotechs, in this "quality of earnings" barrage on CNBC and elsewhere in the media. Our analysts and investment bankers have not fought back with compelling definitions of "research premium". It's all just a big game...... sell them Winter 2000, then take their money away. It really left the sector with tarnish, this time.
However, the sector is flush with cash, and research premiums are small. Too bad it's the little, "hopeful but naive" guy/gal that got their wallet sacrificed.
I've been fully invested, and occasionally on margin, during this crash. However, I've come through relatively unscathed. I over-weighted stocks that were selling at or below cash and which also had significant leverage to their business plan. Further, I've been scalping on a daily basis, bringing down a "basis" here and there, where possible. My plan was to be in "pop" stocks, and to move on when and if the pop came. Didn't work, but one of the issues where I was weighted did appreciate right through the slaughter.
The last thing one wants to do is buy into the analysts' crap at a time like February 2000. They're just selling over-priced stuff to the naive. For newcomers to the thread, this isn't 20:20 hindsight........
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