GenVec has one AACR abstract that doesn't amount to much. ASCO is going to be the news driver near term. I was thinking of taking profits at the next resistance point for BLUE HP. I flipped mine a bit early, but won't complain about a profit. Speaking of gene therapy companies, I've been keeping my eye on INGN, but not closely. Apparently they don't have much going wrt AACR, but perhaps they might for ASCO? What do you know?
OT re GERN. I was very very bearish over $6.50. I discussed it fairly extensively on my short thread recently, on a suggestion from Nigel. I asked some day traders where they thought it would top out, and they said $9.00. So I waited, though was tempted when it got over $7, and have been kicking myself for not following my own instincts and shorting it there. Also ranted on T/FIF about not flipping it, but perhaps Rick will make something out of it in the long haul. He usually does. Now, with GERN in the low $5s, I'm neutral. Interesting the amount of the financing is about equal to the amount of outstanding converts.
I don't think they'll have much up their sleeve for ASCO; I think they've shot their PR wad for a while. They might manage a minor outlicensing deal here & there on their nuclear transfer, liver cell line, or stem cell IP. But I doubt anything significant for a while. As such, I would expect retracement. You can probably pick the supports better than I.
Cheers, Tuck |
