Anybody bought STEM or GERN today?

Discussion in 'Stocks' started by azzzy, Jan 23, 2009.

  1. azzzy


    I woke up too late and read the news about stem cell research ban being lifted after both STEM and GERN went up significantly. Anybody got in on that? Long term? Short term? Day trade? How did you do? What are your thoughts on the prospects of the two?
  2. CET


    On these just keep in mind that GERN got approval to begin a Phase I trial, so this great development is just the first step of a thousand mile journey on which many obstacles will be faced. GERN could provide some good trading, and STEM is just getting a free ride on GERN's news. This type news is what the hedgies love to run up and get short to kill the chasers. You never know how many days the run up lasts, but once it ends the stock usually bleeds down for a long time. Treat these stocks as trades and get your profits where you can. It will be interesting on Monday to see how GERN acts, but you need to look at today's chart and pay close attention to support and resistance.
  3. I bought gern at 6.53 and sold at 7.61 only small play.has no courage to play big as i do not know the stock.played big on wye and made good dought on merger with pfe.:D
  4. azzzy


    I don't have enough money to day trade (otherwise I definitely would). I picked up a few grand worth of both GERN and STEM at the end of the day at the drop off. I hope the frenzy continues next week.
  5. Gern was in my opinion an obvious short when it hit 60% up for the day. Scottrade didn't have shares for shorting but I tried to short 60k worth. grrrrr.....
  6. dsq


    well i guess there s always another day to step in front of a train....these tiny biotech plays are pure casino games...just a game of chance...this is hardly trading just amateur hour....anyway you will learn because these stocks will teach you that in a very quick and unpleasant way.
  7. CET


    This is a tiny biotech in the bigger picture, but it has a 78 million share float. You speak like you don't know what is relevant.
  8. NoDoji


    azzzy, you can do an intraday trade like GERN without having $25K, but then the cash used in the trade will take 3 days to clear before you can trade with that money again. You don't become subject to pattern day trader rule until you do 4 intraday trades within a 5-day period.
  9. azzzy


    I know, thanks. But I stumbled on this after the prices have gone up too high to risk going long and I wasn't sure if shorting these would be a good idea (besides sounds like it may not have been even possible to get shares to short). Since I have a limited number of day trades I try to use them for things I know more about (like shorting C and BAC :D ). So I just bought these at the end of the day when they dropped (didn't really catch the bottom with GERN but did OK with STEM). My hope is that even if they don't go up next week I bought them close enough to their previous prices to not lose my shirt on this. And I certainly have no intention to wait until they triple.

  10. dsq,

    Why would you post that when you do not know how I trade? Really why?

    I used stop losses big boy. I might have lost 1.5% on it, that's it! Far from jumping into a train as you so put it. I was up 3% on the morning.

    I would have made 3% on it from when I wanted to enter and when I would have been stopped out on my manual stops.
    #10     Jan 25, 2009