RNN is a "me too" biotech play. CNAT (and GALT) is a "me too" biotech play on ICPT. I am thinking of starting a company called m22au pharmaceuticals and applying for an IPO.
Yes but only in a daytrading maybe overnight basis. Got really unlucky on RNN, I shorted the day before the big tank in the last hour at $1.56ish, the stock put one last squeeze to $1.75 before tanking straight down to $1 the next day (I was going to carry overnight). I couldn't take the pain and closed at $1.72. I'm not sure what I did wrong there. Guess you have to short the rallies and not chase these plays down but I just sensed it was bounded to tank, I was right but the noise caught me. PLUG I made a bit, not a lot
I did okay on RNN actually. I was short 1.56ish hoping to add if it squeezed to 2, but it never did. A lot of the guys I see trade this stuff risk pretty wide stops and hold multiple days. I think when trading these things, you have to think big picture, which often mean shorting on the way up and covering days later on the way down. I think they are kind of difficult to solely trade intraday since they rarely dump all at once. RNN being an exception. KONE could have been a decent trade. I don't think you could have sized in since it probably could have gone 20+, but it would have been good for a few points on starter size.
YEs. I started a sep. thread on LIVE ...can't find shares to borrow though. Digging deeper and hope to locate stock if this is a real pig.
LIVE was etb at a lot of brokers last week so you could have boxed Was short CTIC, which came in nicely. I think there could be edge in shorting a lot of these over extended small/micro caps.
MONT accused of faking revenue: Is Montage Technology Still 'Fabless' If It Is Fabricating Its Revenue? www.seekingalpha.com/article/199984...till-fabless-if-it-is-fabricating-its-revenue