You probably remember the old AC/DC song Dendreon, done dirt cheap.The stock is getting crushed from a speed bump (or worse?) for its Provenge drug.
This is constructive from a learning standpoint. The stock went up a ton when there was a recommendation from some sort of FDA panel. Similar to take over news (real or otherwise), that approval was going to be the vast majority of the move higher for an extended time period meaning there was way more risk than reward for the short term.
I tend to be a seller on a huge move higher driven by a news item.
Longer term their could have been more reward potential for DNDN but I don't think in the short run, this is consistent with a couple of posts here in the last few days.
If you own Dendreon; sympathies but if you don't be wary because this sort of thing repeats over and over with story stocks.
5 comments:
Roger,
This is off subject but I wanted to let you know that I have used some of your excellent comments from yesterday in my blog this morning.
You can view it at: http://thewallstreetbully.blogspot.com/2007/05/etfno-load-fund-archives-revisiting.html
Ulli…
Roger,
Off, off topic: I'm reading J. Diamond's "Collapse". There is a chapter in it about Iceland, and of course, I thought of you. So far, it's been a worthy read.
Leisa, cheery title.
What is his conclusion?
Thank you.
Oh...the title of the book is Collapse: How Societies Choose to Succeed of Fail (He also wrote Guns, Germs and Steel).
The chapter on Iceland talks about the fragility of the land and how certain agricultural practices didn't work very well resulting in erosion etc. I've not finished this particular chapter; but it appears that the Icelanders worked hard to become good caretakers of their land.
I now that there are very controversial views about global warming etc.... what Diamonds sets out to do is chronicle--with lots of painstaking science--vignettes of man and environment. Easter Island was also a chapter. So I'm slogging through still. You may wish to pick it up with your avid reading.
I didn't mean to be so cryptic in my first post; I just presumed that I was the last person to read it!
From the John Edwards files; he worked for a hedge fund to...learn more about financial markets and their relationship to poverty in the United States.
http://www.newsmax.com/archives/ic/2007/5/8/133926.shtml?s=rss
He's definitely going after the low IQ voter.
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