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TMFBlacknGold (98.68)

September 2012

Recs

10

Biopharma Run-up is Ruining My CAPS

September 22, 2012 – Comments (11) | RELATED TICKERS: PPHM , NSPH , PCYC

The recent summer run-up in the biopharmaceutical industry has been responsible for a loss of over 1,300 of my CAPS points. This is, of course, my fault for shorting them in the first place. I guess I just never thought it could get so out of hand. For instance, my red thumb on Peregrine Pharmaceuticals (NASDAQ: PPHM) is worth almost -900 points since June 1st. I was feeling pretty confident in shorting crappy companies with low market caps and bleeding balance sheets, so I made the mistake of red-thumbing at $0.54. Funny thing is, I remember seeing zz's green thumb right when I went to submit my pick and thought "Gee. Maybe I should follow the big guy." Well, I didn't. And it is costing me dearly.  [more]

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