Bought $65 ATM Puts on Celgene

CNBC has had several recent discussions on ASCO insider trading. Apparently the conference sends out briefs to it's members but not the press. They include a warning not to trade on the info or share it w/ people who would trade on it but ....

Supposedly that was the catalyst for the ~6 pt waterfall in Imclone from 5.10.07.

IIRC, they also mentioned that an ASCO abstract was the catalyst for the 2003 DNA move ....
 
Quote from spoonie:

dont you think we'll see 76 in July ?

Not my TA, but for what its worth -

http://www.investorvillage.com/smbd.asp?mb=341&mn=45780&pt=msg&mid=2078509
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Interesting chart...have to pull it up and look at it on my own charts. It's about to breach the lower side of the channel then now...what if it bounces off of the bottom side? Only the topside of that channel seems to have any clout as the bottom side has been walked over like the border in AZ. :D

Thoughts?
 
ASCO isn't that secretive anymore - Adam Feuerstein at The Street has always been 100% open about what it says. Read saturday's blog posting he goes into details about why he lets the public know about what is going on with various trials....
 
Yeah, I bought quite a few October $60 Puts.

It looks like it's breaking right on through a support line holding fairly well since early March. Could go back to the mid-$50s to fill a few gappish days.

Thanks, good call...wish I had gotten in earlier. :D
 
Good call... Looks like the 60.25-60-50 area looks a little sticky with the 50dma, 38.5 retracement and a bit of support from late april early may. Be interesting to see what happens At that point.
 
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