Regardless of FDA approval, the way the market has been going $5.22 could have been the peak and it'll lay flat the rest of the day and into tomorrow until someone shorts the shit out of it and drives it back down to $3.50 by Friday. But I'm just pessimistic.
It's gonna skyrocket Friday. Unfortunately, I didn't take the chance before it was halted yesterday. Anybody buy it here?
Read the news carefully. FDA said their treatment was safe, not effective. One study does say it adds 4.5 months of life expectancy. Be careful. I'm not saying it won't skyrocket, but you better be careful. Here's my paid-for subscription newsfeed for everyone. FDA Panel: Dendreon Prostate Cancer Drug Is Safe 16 minutes ago - Dow Jones News By Jennifer Corbett Dooren Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- A Food and Drug Administration panel said Thursday that a proposed prostate-cancer treatment from Dendreon Corp. (DNDN) is safe. However, the panel is now voting on a question about whether the drug is effective, and that vote will be the key vote in determining whether the panel thinks the FDA should approve the drug. The FDA said two studies of Provenge showed it failed to meet a study goal of reducing so-called time to progression, or the advancement of cancer. However, a subsequent analysis of one of the studies, which involved a total of 127 men, showed those receiving Provenge lived about 4.5 months longer than men not receiving the drug. Unlike existing cancer treatments, Provenge is considered a therapeutic vaccine that is made using a patient's own white blood cells, combined with a protein and then infused back into a person. The treatment is designed to stimulate the body's immune system to fight the cancer. Existing therapies are aimed at killing cancer cells or choking off blood supply and other proteins involved in cancer growth. -By Jennifer Corbett Dooren, Dow Jones Newswires; 202-862-9294; ]
There is no worse feeling than the one you after these kinds of moves. If it moves tomorrow i would feel horrible about not getting in.
DNDN has over 30% of their shares shorted :eek: I think its safe to say $10 is easily reachable and who knows what kind of short-squeeze action we'll see. I've heard estimates in the high teens, so $10 is being conservative. I'm looking forward to trying to game the range which should be pretty big.
OMFW -- think this is real? :eek: http://messages.finance.yahoo.com:80/Stocks_(A_to_Z)/Stocks_D/threadview?m=tm&bn=5342&tid=255895&mid=255895&tof=14&frt=2
Sorry - - here's the text My husband's gonna KILL me!! (7 Ratings) 29-Mar-07 06:55 pm I started daytrading a few months ago and had some success. Overall I was breakeven going into yesterday. My husband allowed me to start investing with $100,000 (50% of what we saved over the years) though he doesn't really understand the difference between daytrading and investing and how you can trade with 4x the amount of money. I have always taken very large $200,000-$400,000 positions in a stock because I would get out in a few hours or the next day. Yesterday I went short about 78,000 shares of DNDN at an average price of about 5.00 and did not realize the stock would hault ALL DAY TODAY. I thought I might be able to catch a pre-announce move in the opposite direction. I am in tears and don't know where I will be able to get out. Can they come after me for more than the $100,000 that is in my account and how would they do this? Does anybody have a REALISTIC idea of where this stock will open tomorrow? I will not be able to sleep a minute tonight and I dare not tell my husband.
how'd someone who's not a pro find 78k shares to short of a stock on the reg SHO list? i'd been unable to get a locate on DNDN for the past week. (no position - i never try and game the FDA's outcome. i may trade BEFORE, or AFTER the outcome...but i stay clear when it's coming down).