Feurstein Strikes Back At Stoney!

Discussion in 'Trading' started by stonedinvestor, Jun 2, 2008.

  1. Well another day more great news from CEGE and the stk is down again WTF!!!!! Oh I see be careful what you ask for dear Mr. Feuerstein did take the time to answer stoney's plea. I'm sorry I'm talking in the third person a lot here but that's what happens when you go global!!!

    Check this out from the Biotech real money mailbag!!!

    Not everyone is as sanguine about my handiwork. Take, for instance, this guy who calls himself "Stoney":

    "I give you the benefit of the doubt when I talk to folks. But I just read through six pages of Mailbag nonsense absolutely nothing vital -- Titan (TTP - Cramer's Take - Stockpickr) and Dendreon (DNDN - Cramer's Take - Stockpickr) again! A complete waste of time and I have sent you two emails already asking you to re-evaluate your negative stance on Cell Genesys (CEGE - Cramer's Take - Stockpickr). For whatever reason you have failed to step up. Fine, don't even do it now. You will surely reach to form a conclusion backing your first one.
    "[Cell Genesys] has gone from $2.90 to $3.90 on your watch and today [May 12] sold 7 million shares to a private investor at $4.22 a share -- $28 million or so wagered. Still, in your view there's no cancer platform there that will amount to anything. Strange."

    I've taken a bearish stance on Cell Genesys because I don't believe in the efficacy of its experimental prostate cancer vaccine, GVAX Prostate. When the first phase III study reports out next year, I think the results will be negative. In previous columns, I've tried to explain my position.

    I'm more than willing to change my mind if the facts warrant it, but nothing so far compels me to do so. That includes the partnership with Takeda and the more recent registered direct offering. (The latter, by the way, diluted existing shareholders again and boosts the company's already bloated, fully diluted outstanding share count past the 90 million mark.)

    Between today and when we finally see the GVAX Prostate phase III data, Cell Genesys shares may be at $4, or $6, or $16. I have no way of predicting the near-term direction of the stock price. All I can do is give you my honest assessment of the fundamental, long-term outlook for the stock. In this case, it's negative, and I've said so.

    Clearly, that offends some people, including Stoney. I'm not going to apologize for saying what I believe to be true. If I'm wrong, I'll say so and hold myself accountable. At this point, I think I'll be right.

    >>> I forget what I titled it but I posted on ET my initial email calling him out... and of course today I sent in a new one with a new name... but the point is he knocked it again, it's down BUT the news is good... you have to read through the lines a bit so I really must find that first post but initially Adam was very angry and said this TRIAL WILL FAIL!!! He guaranteed it now read this with an open mind folks but now he's putting all the focus on Phase 3 trials... after covering so many companies at 2 and 1 .... and he's saying if it goes to $14 he could still be right... At this point I still think I'm right.... maybe it's wishful toking on my part, but I detect a slight mood shift and mea culpa from dear Adam... and he has laid the foundation for that my calling stoney out on the grand stage. lol. ~ si