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Big Day



September 10, 2009 – Comments (0) | RELATED TICKERS: GNBT , FSLR

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.


In my CAPS selections I recently had FSLR close because it hit the upper limit that I established for it.  I still like my underperform pick but I was way off on my timing.  I'll have to scour the recent news to see if there was something that I missed that caused their huge upswing over the past week or so.  I'm continuing to be impressed by GERN as I got in at a good time with my pick.  It seems that investors are accepting the news about their FDA hold as being less damaging now that details have been released.  Hopefully some of my picks rebound, and I'm learning how to set my limits in order allow for large swings as most of my picks are longer terms and small fluctuations (or large short-term ones) have been hurting me.

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