GNBT exploded today on news that the FDA is allowing certain types of patients to use their new oral insulin drug despite the fact that it is still in Phase III testing. Shares crested $1.00 today peaking at $1.01. I briefly thought about selling when it hit $1, but realized that there is nothing but upside here in my opinion. I did wish that I knew how to use some of the tools in Ameritrade to identify the short interest in the stock, but I feel that there can't be as much as there has been in the past. The stank settled down a bit as people locked in profit but still finished up over 22%. This is also the first time that all of my stocks (AKAM, AOB, C, GNBT, and WM) closed up on the day, which feels pretty good. I posted a solid 5% gain on my portfolio today, more than erasing the large 7% single-day loss that I took a couple of weeks back. [more]
I did okay today. DigitalDisco beat the market on Wednesday applied to both my own portfolio and my picks. In my CAPS picks, I saw some things that I found odd. BBY surged nearly 4% on no news of significance. They are going to open stores in the UK, but are also slowing the rate at which they open stores. Magic 8 ball saaaaaaaaaaaaaaaaaaaaaaays 4%. Fine. [more]
DigitalDisco beat the market on Tuesday. It's like TMF is taunting me because my actual holdings got cruuuuuuuuuuushed today. In my humble opinion, the market didn't NEED a correction. We're still well below pre-boom levels and every economic indicator has been on the positive side for several months now. The only thing still negative is unemployment, however, historically unemployment lags recovery by several months. When unemployment starts to return to normal levels, the economy will already be recovered. [more]
The bears have gotten their correction. After over a week of talking about it Asian markets cooled on mixed data which sent us downward. Expect it to continue today and tomorrow.