Bitch slapping biotechs . . .
I covered my RNA short this morning at $4.83 for a quick 6%. It's even lower now, and this would be a good place to cover. Some coronavirus has been cultured from the mystery disease SARS patients, and chinese doctors have reportedly been using ribavirin as part of cocktail in their patients. Ribavirin being RNA's drug. There is still some question as to which virus is the actual culprit. There may be more than one floating around in the patients' sera. It was simply a "sell the wild rumor run up" play and it worked just fine, thank you.
Still like CTIC as a short, and perhaps AFFX. Congrats to Techplayer for scoring on the long side there. I have a virtual position trade going on it in one of my virtual portfolios from the low $20s, but looking to get out on another bounce over $27. AMGN, tempting, but has regained institutional favor, and is looking strong. Still recommend being on the sidelines in that one. Perhaps short it at the next market top? CHIR worth watching, approaching resistance, perhaps.
REGN signed a decent deal with NVS today, but is off sharply. Rumor has it negative results have leaked out of its Axokine trial. Results due in a week. Good straddle candidate if the IVs aren't too rich. I haven't looked yet. Also, still like AGEN as a short.
Cheers, Tuck |
