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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Mike Buckley who wrote (4883)4/14/2007 12:22:22 AM
From: Mike Buckley   of 5205
 
I need to clarify something that I wrote poorly.

Immediately following news of the advisory committee's votes, the stock gapped up from less than $4 to $18. The following day it got as high as $24 or $25. That's a 6-bagger. I'm reasonably confident that a favorable ruling from the FDA will not propel the stock nearly that high from the current level of $17.

My clarification is that I believe a favorably ruling won't propel the stock to anything near a 6-bagger. Instead, I expect the stock to rise to as little as $25 or as much as $40.

--Mike Buckley
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