ALXA - owned this for the past couple of weeks (61c), it took a real tumble recently, but has bounced back quick, helped by a director purchase on the recent dip. I tried to pick up some cheap calls on the dip (May, 50c calls), but they never got to 15c.
I was looking for 70c plus on the run-up to the May 4 PDUFA, but yesterday a spike was caused by this video. The person interviewed is respected biotech writer Adam Feuerstein. News headlines reported the video as bullish, this caused a massive spike in the share price. I had watched the video, the only thing bullish about the video was the the title. So I sold at 66c. I will look to re-buy early next week (61c to 63c).
But have I just made the same mistake discussed in a previous blog post? These 'no real news' price spikes have often proved to be the catalyst for a further run-up in share price. In hind-sight, I could have been more patient on the spike, and got my shares away at 68c+, a higher sell price can justify selling into these price spikes and ALXA of the last couple of weeks has proven it is prone to very wild price spikes.
MSHL - Missed round 1, but in for round 2. I was too slow on the trade alert when the company announced it was announcing data at ASCO. The share price ran to the 90's over the following days then spiked on this 'no real news' announcement. MSHL is notorious for the share price spikes and consequent fades on news such as this. The sp spiked to $1.10 and has since faded to as low as 77c. We got in for the ASCO run up (May) at 78c.
Open Trades Short
HUSA (April $7.5 puts), VRML, GPRC, VRNG, TZYM, OPHC, HEAT
Open Trades Long
CHTP, UNIS, MSHL, CLDX, HZNP
April Returns - 2.2%