Tuesday, December 06, 2005

Sell Signals for ABGX and CYTK

Sell Short 700 shares of ABGX and 1200 shares of CYTK at the market open on 07-Dec-05. Stop losses are set 10% higher than the respective purchase price for each position.

8 comments:

Coupon Deal said...

I wish :). but it is good to be right once in a while.

Coupon Deal said...

too early to celebrate my "brilliant" call. there was noticeble buying interest in the last 30 min of trading pushing ABGX up ~20 cents. my short entry is still 19 cents higher, entered @14.39 two days ago - nothing to complain about. I wonder if I really got lucky and called the top correctly. we shall see...

Anonymous said...

Oh, I was talking about CYTK, but congrats on ABGX anyway. But I am biased against you on that though since I long MEDX call, thus ABGX's bad news spills over to me.

So why do you think CYTK will go lower? Isn't GSK banking on them? Any KSP clinical raw data to share? Thanks. Any is it a good / OK / bad sign that they got (only) 3 PR in the trial and did not disclose more data at the recent meeting? I was hoping someone would get some message from the meeting and move this thing way up or down. But there has been just no major move.

By the way, what do you think of the TELK drug? Tx again

Coupon Deal said...

I don't have meaningful comments on CYTK. I opened my short purely because of technical reasons.

I do like TELK as a company, but one of my technical systems has been flashing sell signals on TELK recently. that was one of the reasons I exited my long position (somewhat prematurely in the hindsight). Since I exited my TELK long I got even more sell signals. Similar story with MEDX: I have been getting quite strong sell signals last week.

with TELK I would like to buy it based on my understanding of their drug pipeline, but I won't touch it till I get a clear technical buy.

Anonymous said...

Eventhough CYTK had some "good" news this morning, the stock kept dropping. Apparently someone knew something and was not buying the new's value. Or was it reaaly due to "sell on news?". Your input please.

Coupon Deal said...

my take: the news about 0.5M payment and preclinical compound is not earth-shattering so there is little reason for the price to go up. why did it actually drop? I don't know but I guess the stock has been technically weak (this is what my system has spotted) and now we have "sell on the news" on top of it.

like I said, my play was purely technical. I entered on technical reasons, and now exited once it hit my pre-set target price. the stock may or may not keep dropping. I often exit somewhat early from my positions - possibly a drawback of my system. so, I would not be surprised if the slide continues for a while. But I don't have any objective signals for the stock at this moment.

good luck to your investments! thank you for your input!

Anonymous said...

Tell me more about your system please. I hope it does not cost much.

Coupon Deal said...

Arther, my system has a large technical component but it uses other info as well. it is not something I sell. the system is still pretty raw even though I trade based on it from my own account. it will take me some time for me to optimize it to be totally comfortable with.

I post the signals in my blog before the market open and I try to duplicate the entries on the corresponding yahoo message boards before the market open as well.

good luck in your investment. sorry about your CYTK