posted
Not really. When I left my job a month ago, I said I could help out on occassion if they neded me, and they called me Friday to ask if I could help with something, so I was at my old job today. Sold my GGP from Friday at .50 from .4701, and am still holding my WCG. Didn't watch closely, but didn't notice anythign especially exciting that I missed, so maybe I was better off getting paid for a consulting day than trading today anyway.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: Not really. When I left my job a month ago, I said I could help out on occassion if they neded me, and they called me Friday to ask if I could help with something, so I was at my old job today. Sold my GGP from Friday at .50 from .4701, and am still holding my WCG. Didn't watch closely, but didn't notice anythign especially exciting that I missed, so maybe I was better off getting paid for a consulting day than trading today anyway.
I bought CME and BIDU calls.
Posts: 4381 | From: houston | Registered: Mar 2006
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posted
I am in XTLB at 0.14. It doesn't show much up and down but I somehow think a 94 percent drop in value has not been fair to it. What do you think:
XTL Biopharmaceuticals Announces Top-Line Results From the Bicifadine Phase 2b Study for Diabetic Neuropathic PainLast update: 11/18/2008 8:05:00 AM
Study failed to meet its primary endpoint VALLEY COTTAGE, N.Y., Nov 18, 2008 /PRNewswire-FirstCall via COMTEX/ -- XTL Biopharmaceuticals Ltd. (XTLB) announced today the top-line results from the Bicifadine Phase 2b clinical trial for the treatment of diabetic neuropathic pain. The trial's primary objective was to compare the efficacy of two doses of Bicifadine against placebo in reducing pain associated with diabetic neuropathy. The primary endpoint of the study was the reduction in pain score during the course of treatment. The company announced that the study failed to meet its primary endpoint. The trial also failed to meet key secondary analysis.
Ron Bentsur, CEO of the company, commented: "We are all very disappointed with the results of the study. We will devote the next few days to further analyze the data and decide on the appropriate course of action for the Bicifadine program, and for the company."
Ladenburg Thalmann & Co. analyst Juan Sanchez said in a note that the company would likely discontinue the product. "Bicifadine's was [XTL]'s only product in clinical development therefore we believe the company's current valuation should be based solely in cash," said Sanchez, who cut his investment rating on the stock to sell from buy. Ladenburg estimated XTL currently has a cash position of about $6 million, which would correspond to about 20 cents per American depositary share. "Given the lack of prospects for the company we believe, [XTL]'s shares should trade at a steep discount to cash," the note said. XTL representatives didn't immediately respond to a phone call requesting further comment.
-By David Benoit, Dow Jones Newswires; 201-938-2472; david.benoit*dowjones.com
Posts: 27 | Registered: Oct 2008
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posted
Good catch guys, I played that one a bit as well. Didn't have a chance to write this up last night, but here is yesterday's recap:
Didn't do much trading yesterday. I didn't get to my computer until about 5 minutes after the open, and apparently missed a good pre-market play in XTLB. It got as low as .05 in pre market, and opened at .11 and immediately went as high as like .19. Is was down about 97% from the previous close of $2.20 or so because of news of a failed drug trial. A lot of times those types of drops are huge over reactions, so even though it was already up over 200% from the day's low, I got some at .18. It was a poor decision, given the risk reward, and in hindsight I should have waited, but I had just gotten to the computer, so I wanted to buy first and then research more, in case it went up a lot in the mean time. A lot of times drug companies will lose 80% in a single day on news like this, so if this one had gone from -92% when I bought to -80% on the day, that would be about a 140% gain.
Well, it dropped back down, and I got more at .14 and more at .131, so my average is .158. It dropped as low as .12 later in the day, so I was down about 25% at that point. It then went back to almost .15 before fading to end the day. I decided to hold it overnight, but as of the closing price (.125), I was down about 20% on the trade.
I'm also still holding WCG.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I got into xtlb yesterday before close at .138, lets see how that goes today.
Posts: 301 | From: Hamilton, NJ | Registered: Jul 2007
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posted
It should have hit at least 20 cents. It still has a suite close to NYC and equipment worth $6M in total, according to the analyst.
Posts: 27 | Registered: Oct 2008
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posted
Yeah, I'm still holding too. It traded over .20 in pre-market, so when it opened at like .14 I thought it would get backj close to that area again. Didn't see this coming at all.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
you still in xtlb? Getting killed here, knew I should've sold at .10 for a small loss, no idea why I'm still in this.
Posts: 301 | From: Hamilton, NJ | Registered: Jul 2007
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Last week was a pretty rough one for many reasons. First my whole family was sick, so I wasn't trading very much. On top of that, the trades that I did make went pretty poorly as well. The biggest loser was my trade on XTLB, which isn't surprising, given that I violated most of my rules of trading.
First of all, I bought it at like 9:35, when one of my rules is to not buy anything until about 10:00. The first half hour of the day for me is usually reserved for watching things that I held overnight, and getting a feel for how some other stocks are trading. The next rule I violated was I kept averaging down, to the point that I had more money in it than I ever should have. And finally, instead of cutting my losses quickly, I ignored my most important rule, which is to never "hold and hope". If i have a good reason to think that a stock will bounce, that's one thing, but holding just because I HOPE it bounces is a recipe for disaster. If the stock you're holding seems no more likely to go up than any other stock, there's no reason to hold it. I needed to cut my losses and free up my capital for one that I was more certain would go up.
So finally on Friday I sold most of my position for a pretty huge loss. I was pretty disheartened about the whole thing, but I spoke with some guys who have been trading full time for over a decade, and they all said that it still happens to them sometimes, and the key is to not get too upset by it, move on, and never, ever try to make it all back at once. So since it didn't put me in a perilous situation, I just have to forget about it and go back to trading with more discipline.
The next stock that I lost money on was WCG. I finally sold it last week at 7.85 for a sizable loss. This one did not upset me as much, because although it didn't fit into my normal trading style, I had a feeling that it would be a lot higher in a few days, so I decided to hold on. It turns out that I was wrong, but I went with my gut, so I'm okay with it.
One of the mantras that I try to trade by is that if I lose money trusting my gut, it's infinitely easier to live with than losing money going against your gut. Using WCG as an example, my actual trade, and subsequent loss, doesn't bother me, but if I had felt sure that the top was in the high $9 range, but I held on longer to see if it could go even higher and ended up selling for the same loss, I would be much more angry with myself.
On a positive note, I ended up buying a bunch of BGU, which is a triple leveraged ETF that tracks the Russell 1000 (triple leveraged means that if the Russell 1000 goes up 3%, this should go up 9%, and if it goes down 2%, BGU should go down 6%, etc). I bought some at the end of the day Wednesday at 28.50, so my timing was off by a day, but I added more on Friday at $25.00 when the market started to turn. Right now my average is about $27.10 and it is over $28 in pre-market trading, so I am up a bit on that one. Hopefully the market continues its bounce for another day or two.
There were a few other trades that I made, but nothing of note. For the week I lost about 25%, so it was a pretty bad week, but I am still up about 20% in 5 weeks, so I can't feel too terribly about it. Like i said, I have to forget about these bad trades and go back to what I was successful with in the 4 prior weeks.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Sold most of my BGU today for a nice gain. Am holding a losing position in LFG at a .61 average. Closed at .51. Also holding $7.50 March calls on Citi at $.90. Closed at 1.34, but I am holding it for a while, I think.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Sold this morning's TMA at .30 because I had to leave for a bit and didn't want to hold it while I was gone.
But just a few minutes ago someone alerted me to a huge sell order at .31 that was gettign hit hard, so when it broke through that, I bought back in a little under .32 in case it runs to new highs.
Also, I bought some DWNFQ, which filed bankruptcy, at an average of .042. This is obviously very dangerous, but occassionally they can run a bunch from the lows after they declare bankruptcy.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
TMA closed nicely, gettign up to .42 before pulling back to .40 before the close.
DWNFQ closed the opposite way, with bids getting hammered into the close. I have a lot more in TMA than this one though, so I'm still okay.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Sold my TMA at .48 for a 50% gain. Thought it would dip and I could get back in lower, but it kept running to .58. It finally pulled back to .48, but by the time I got my order in, I got back in at like .52 average.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Closed at .48 I'm holding overnight cause I'm gonna take a chance... hopefully it runs like it did on the open this morning... doubtful, but I'm not looking to make huge gains on it.
Posts: 23 | From: Coral Springs, Florida | Registered: Oct 2008
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posted
TMA hit .62 in pre-market already. I'll probably sell at least a chunk of my holdings at the open to lock in some profits.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Ugh... woke up late... missed the big jump, Now I'm trying to sell at .55 but my broker (zecco) wont let the order go thru. I'm quite bothered and I'm thinking of switching dispite their cheap prices. I could have already made up for there price in profit.
Posts: 23 | From: Coral Springs, Florida | Registered: Oct 2008
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posted
Ignore what I said above, I guess I was the only person in the world who didn't know the market closed early. I feel dumb. =[
Posts: 23 | From: Coral Springs, Florida | Registered: Oct 2008
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quote:Originally posted by Brietoe: Ignore what I said above, I guess I was the only person in the world who didn't know the market closed early. I feel dumb. =[
lol, better to realize it than sit there staring at it than wondering why it quit trading and thinking they were frozen by the SEC.
I know.... that only happens to me!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
haha ^^ Morning Cola, Ready for a new day? I'm excited to finally drop my TMA.
Posts: 23 | From: Coral Springs, Florida | Registered: Oct 2008
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posted
Did you sell? I went to sell at the open, but it dropped too quickly, so I am still holding. Added some more at .46. Average is now .51.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
No.. I wish. I could have made like 10% and run, but I thought It was going to go up, Oh well. I'm averaged at .49 I want to put a limit order on it, what do you thinks a safe number?
Posts: 23 | From: Coral Springs, Florida | Registered: Oct 2008
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