I got in this just before the close at 6.50 yesterday. Was down like 60% on news that the FDA was doing a safety review of one of their drugs. Company basically PR'd after hours that it's just a review and doctors are not being asked to stop prescribing it and they are confident that there are no safety issues. (This is my interpretation, which may be wrong, of course).
Up to like 8.50 pre-market. Wonder if it will be able to get back to the $14/15 range from before yesterday. That would be sweet!
Posted by stgeorg2 on :
Who do u trade with PC i am trading with ameritrade and can't seem to make any progress ... i want to follow the chart of 3%
Posted by PCola77 on :
I use Choicetrade. You can only follow the 3% chart if you can get good enough to consistently get 3%. Much harder than it sounds.
Posted by PCola77 on :
I doubled down on BMTI at $8.50. Had an order in at $8, but wantd to go grab some breakfast so I moved it up to 8.50 to make sure i got the shares. By the time I got breakfast and came back it was at like 7.75. Whoops.
Posted by stgeorg2 on :
not moving much
Posted by PCola77 on :
Deutsche Bank reiterates its Buy rating and $22 price target on BioMimetic Therapeutics (Nasdaq: BMTI).
After a 56% sell-off yesterday related to an FDA announcement that it would be conducting a safety review of Regranex in regards to a link between the product and cancer death, the firm believes investors have overreacted to the news. Deutsche points out that it does not expect any material impacts that could affect BioMimetic's clinical program.
The firm notes two key differences between BioMimetic's GEM OS product and Johnson & Johnson's (NYSE: JNJ) Regranex:
Regranex is for chronic use (~20 wks in Regranex’s clinical study) vs. acute use for BMTI’s GEM OS line (1x during surgery).
The amount of drug exposure is significantly higher with Regranex than with BMTI.
Additionally, Deutsche has found that "Regranex does not appear to increase the incidence of cancer and the higher death from cancer with Regranex is confounded by the very small number of deaths."
BioMimetic Therapeutics, Inc. engages in the development and commercialization of bio-active drug-device combination products for healing musculoskeletal injuries and diseases that include periodontal, orthopedic, spine, and sports injury applications. [BCS]
Posted by PCola77 on :
I'm okay with 35% overnight
It's also up about 3% from my second buy this morning. Typically I'd take that and run, but I do believe this has more upside, give the price it was trading before yesterday. Although I've been known to be wrong regularly, so don't listen to me
quote:Originally posted by stgeorg2: not moving much
Posted by PCola77 on :
Keeps bumping its head on $8.80 if it gets through it could rock.
Posted by gatorboy2424 on :
nice pcola...
Posted by PCola77 on :
LOL. Nice timing on my part (luck). Just ran to a high of 9.37 within like 1 minute
I'm up almost $6K on this one! Woo hoo! Beers on me Posted by tmanfromtexas on :
Good job Pcola. TMAN...
Posted by stgeorg2 on :
i got in at 9.20 and now its going down
Posted by PCola77 on :
Sorry dude. For future referece I would definnietly not recommend getting in a stock that's already up over 40% in one day. Limited upside and a lot of downside. I'm in from $6.50 and $7.50 average, so a swing back down as far as 8.50 wouldnt' really bother me, but it would probably be enough to shake you out.
Best of luck to you though.
Posted by lostone on :
i'm looking for a dip near lunch
Posted by PCola77 on :
I'm right here, and it's near lunch. Oh, you mean in the stock price? nevermind.. Posted by lostone on :
missed that dip too.. by pennies... o well..
Posted by PCola77 on :
Back down to 8.63, here comes your lunchtime dip, i think.
Posted by lostone on :
PC did u take ur profit at 9.4
Posted by lostone on :
dang it, was gonna change ask from 8.6 to 8.55, but got filled.. and hit 8.53 lol
Posted by PCola77 on :
Nope. Comfortable holding still. Obviosuly if I knew it would drop this far I would have sold and rebought, but I'm holding for a while still. I haven't found a reason yet for this to not be at $13-$14 again soon, so I'll probbaly hold a couple of days if need be. Unless, of course, some new news comes out. Basically it's down 35% from yesterday, basically on news that there may be a link between their drug, which is a one time application, and a drug used for chronic conditions. I don't think thta warrants a 10% drop, much less 35%+.
But like I said, I've been wrong plenty of times.
Posted by PCola77 on :
How much difference would it have made? .05 x # of shares is probably not that significant, I would imagine. I get burnt trying to time the exact bottom all the time
quote:Originally posted by lostone: dang it, was gonna change ask from 8.6 to 8.55, but got filled.. and hit 8.53 lol
Posted by lostone on :
it's a better feeling knowing that i got the bottome price that's all..lol.. but this one has that 10+% intraday flux so i'd figure good for day traders.. but yea, i agree with the hold til the 12+
Posted by PCola77 on :
It's interesting reading the Yahoo message board, where some people are still yelling that the FDA is investigating their drug, when they are not. I thought it was obvious enough that they are investigating a different drug from a diferent company that is administered in materially higehr doses, but apparently some people don't know/care...
Posted by lostone on :
well, that's why there's ppl like you making money PC
come on, ring the bell, 1.5 hr lunch is over!
Posted by lostone on :
8.5 after lunch special
Posted by lostone on :
eh.. dropping hard
Posted by PCola77 on :
I just sold during this drop. Got too close to 8 for my liking, and didn't want to risk losing all of my profits (make $3K in basically a day, down from almot $6K earlier today). I'll be watching for re-entry though if it pulls back much below $8, but I am god-awful at playing things a second time around. Hope it bounces back for ya, lostone!
Posted by lostone on :
it's amazing how ppl can manipulate the ignorant.. their product is used acutely, and J&J's product is used LOOOOOOONG term. cancer my ass..
Posted by PCola77 on :
Yeah, and someone on the yahoo board just threw out somethign like "They've lost a ton of money on this drop, bankruptcy could be next!". I'd like to find those people and smack them around.
Posted by lostone on :
hopefully the weekend will give ppl enough time to actually read it.. down 2.91% not really worried.. just annoyed
Posted by PCola77 on :
yeah, I also wanted to free up my cash in case I get a new form 4 signal for Monday. It's already back to 8.45 now, and moving up quickly again. guess I got shooked out Posted by lostone on :
had to average down.. and looks like there's movement today.. after ppl posted about more insider buyings on yahooooo
Posted by PCola77 on :
Nice lostone, hadn't seen that. If they're buying in the $9.00s it shoudl have room to go up. (After thinking about this one the other night, I got back in yesterday for 3000 shares got in much higher than I sold last week, and much higher than I could have gotten in today..., but I'm comfortable taht this one has good upside still. I defintely panic sodl last week, which is unlike me.)
2008-03-28 Purchase 2008-04-01 1:05 pm BIOMIMETIC THERAPEUTICS, INC. BMTI FEDERICO CHARLES (Director) 1,075 $9.245 $9,938 1,075 (Direct) View 2008-03-28 Purchase 2008-04-01 10:54 am BIOMIMETIC THERAPEUTICS, INC. BMTI Lynch Samuel Eugene (President and CEO Director) 5,400 $8.951 $48,337 1,186,561 (Direct) View 2008-03-28 Purchase 2008-04-01 10:52 am BIOMIMETIC THERAPEUTICS, INC. BMTI MURPHY JAMES G (Director) 5,000 $8.4 $42,000 8,000 (Direct) View 2008-03-28 Purchase 2008-04-01 10:51 am BIOMIMETIC THERAPEUTICS, INC. BMTI Friedlaender Gary E (Director) 8,500 $8.994 $76,446 9,300 (Direct) View 2008-03-28 Purchase 2008-04-01 10:50 am BIOMIMETIC THERAPEUTICS, INC. BMTI Douglas Earl Martin (General Counsel) 1,000 $9.05 $9,050 6,493 (Direct) View 2008-03-28 Purchase 2008-04-01 10:47 am BIOMIMETIC THERAPEUTICS, INC. BMTI BULLOCK LAWRENCE E (Chief Financial Officer) 10,000 $9 $90,000 22,135 (Direct) View
Posted by lostone on :
glad to have u back.. we can sit and wait together! lol.. i wish they would PR something.. to instill confidence.. be nice to have a leg up.. at 9's
Posted by lostone on :
OMG,43.9k and 100k shares flew through..
Posted by PCola77 on :
yeah, that was me Posted by lostone on :
u should pick up some USU on that dip with all that money u got, so it will drive the price higher then i can sell.. Posted by PCola77 on :
LOL. USU sounds like a litigation happy law firm.
Posted by PCola77 on :
Finally back up to 8.50. Too bad I'm still down on this go 'round...
Posted by lostone on :
man, what's with the big red blocks.. another one! hope company is buying back shares or something..
Posted by lostone on :
quote:Originally posted by PCola77: LOL. USU sounds like a litigation happy law firm.
lol.. i get it now
Posted by PCola77 on :
I was wondering if that would be obvious enough Posted by PCola77 on :
Ha, just screwed myself pretty good a little while ago. I sold my BMTI to buy DEEP when it dropped to 1.26. Didn't get my buy order through in time, so I missed almost 20% on DEEP, and then BMTI ran up 2.5% since I sold...
Posted by lostone on :
i had a sell in at 8.8 today, didn't go thru missed by a coupla of pennies.. i may get some DEEP
Posted by lostone on :
glad my sell didn't go thru.. going up
Posted by PCola77 on :
Wow, bad two days for me. Missed DEEP, got a big loss by getting CVP instead, and all te while BMTI's been running. Can I restart April? Posted by lostone on :
lol.. bad for me too i had auto sell at 9 and went for breakfast.. and now 9.9
Posted by NemesisNY on :
I've been sticking with BMTI, I got in at 8.72. I'm going to hold on for a little longer. May take another week or two, but I think its going to regain its original share value, between $13-$14 a share
Posted by lostone on :
good man nemesis..
Posted by PCola77 on :
Well it went from being mildly amusing to me being really pissed at myself. I choked the last few days, no doubt about it. Gotta do some soul searching to get back to the discipline that I had cultivated for like a year that I threw out the window the last few days.
Posted by NemesisNY on :
Wow, went up to 10.45 a few minutes ago. I'm still going to hold. Sometime next week it will probably break $12 or $13
Posted by NemesisNY on :
Deutsche Bank reiterates their buy call, looking at this to get to $12 near term and up to $22 target long term. I think even if you buy into this now that its trading around $9.65, you're going to make a good profit on this in the next week or two
Posted by lostone on :
i don't think PC would.. since he could always find some new ones with great upsides
Posted by NemesisNY on :
Well normally I wouldn't either, but this seems like such a sure bet, granted I have to keep half of my money tied up in this for another week, but the gain is going to be huge for me and I still have enough money to invest for day trading purposes; quick 5-6% gains.
Posted by PCola77 on :
Plus I added a huge Post-It note to my computer screen taht says (in large letters) "DON'T BUY A STOCK AGAIN AFTER YOU SELL IT ONCE!!!!" Since I always get fried when I try to double dip.
quote:Originally posted by lostone: i don't think PC would.. since he could always find some new ones with great upsides
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