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Discussion in 'Stock Market Today' started by CXLI1984, Feb 4, 2021.
Put in $100k @ $106 each this morning... am I completely screwed?
I completely missed this story with all thats happening in the market with GME and meme stocks.
My first question would be why did you feel $106 was a good price? I have not followed this stock, but is the valuation up at $100 justified?
Unfortunately you managed to grab the top end of a short term move. Does the company have a good future?
If you have the stomach for it and that much scratch, only you can make the call if you can hold here, no one has that crystal ball. I work for a biopharma company and one of our affiliates had a phase 3 Alzheimer's drug a few years back and unfortunately it didn't succeed. I was very involved in the data readout and whoever has success with an Alzheimer's drug will have peak sales in the range of $1b per year. So if you hit here, who knows what the price will skyrocket too. I wish you the best of luck in whatever you decide to do.
Biotech is very volatile. I bought Novavax last year at $40 and thought I made a good deal selling at 150. It went down to 80 again, but if I look at the price now....
My guess is in the short-term, you are indeed screwed. That being said, I haven't followed this situation AT ALL, so I don't even know why it jumped over the last week, or if it's justified.
well, its back into the $60's today
Can you start averaging down?
I haven't been investing long and I'm not a trader so take what I say with a grain of salt. I looked at analyst ratings/targets on both InvestorObserver, WSJ, and TD Ameritrade. For you to break even the price would need to get quite a bit above the median target and be real close to the high targets. I realize analysts aren't always right but sometimes they are.
If you are thinking long at all, yeah I think you're screwed, at least for a while.
Well, at least it's built a new level of support here in the 60's.
If I were that bullish on it (per research, natch) I would definitely dollar cost average down.
Edit: Support in the 40's.
Remember GAMBLER from the old place? He taught us how to play these in the trials and how to research them. Phase 1,2,3 . After the fluff they always fall until the next phase.
Oh wow, yes! He knew his pharmas.
How did you manage to pay $106 for this one? Was there an after hours spike on news?
If you're dealing in round lots owned AND you feel that SAVA has some upside AND you're willing to play for a breakeven or better in two months:
Buy an equal amount of shares at $49-ish and lower your cost basis to $77.50. Then see if you can put on a May 21st $50/$65 option repair for even money. If SAVA is above $65 at expiration, you'll net $80 for a small gain.
Plan B? Live with Buy & Hope, waiting for $106 to be seen again.
You're going to need to have SAVA religion if you are going to DCA.
Am sure you will love the iCOT.
Here how iCOT may help you in SAVA
iCOT measure extremes of commercial/speculators on intraday timeframes.
For better understanding of iCOT : Please have a look at cotbase youtube channel about iCOT indicator.