Small Cap Speculative Biotech (CYCC)

[go4reward]

Here is a very small and speculative bio tech stock, CYCC.
News on positive trial on lung cancer. Volume jumped from 300K to 2M today around 1pm EST.
http://biz.yahoo.com/pz/100107/181427.html?.v=1

[go4reward]

I was watching the stock until I pulled the trigger and bought a small position at $2.45. It is still climbing. I hope my speculation is right about it.

[go4reward]

It is over $3 now in the pre-market trading. It is looking very strong. Adding more? I am still thinking.

[BAEVentures]

Wow. Hell of a nice jump. Saw this late last night and planned to review this weekend. Up 24% on the day as I write this on 20x average volume. Looks like some institutions have possibly stepped in. Looking forward to further review.

[go4reward]

It is dropping a lot of its high today. I sold half this morning just in case it fails to go up.

[go4reward]

It tanked today. I finally sold of all of my positions today.

[BAEVentures]

You're selling and I'm buying in the $2.50 range. The positive lung cancer results were simply petrie-dish testing and could be a fabulous long term play. Very small capital committed. Found out something funny though, Hyperion Financial Group, just opened up a new newsletter service called Bio-Tech Supertrader, their first stock alert was released on Thursday @ 12:00 noon for CYCC. Explains a good portion of the jump in volume as the newsletter had over 500 paid subscribers.

[go4reward]

Well, they are doing a secondary now. The momentum is to the sown side now. Easy money has been made.

[BAEVentures]

It is worthwhile to note that although it has definitely fallen hard from it's high, the volume on the upside greatly outweighed downside volume.

Jan 7 - Open: $1.05, Close: $2.67, Volume: 47.7M
Jan 8 - Open: $3.25, Close: $2.96, Volume: 78.8M (Big Gap on opening from $2.67 to $3.25 overnight)
Jan 11 - Open: $2.89, Close: $2.48, Volume: 23.5M

So...You have a 154% upside movement on 61% of largest ever volume. You then have a close up 11% over previous days close on largest volume ever. Lastly, you have a 16% drop on volume that is 30% of largest ever and half of that of the large upside swing. To me it looks like a lot of profit taking and that the stock seemed to meet some support in the $2.38-2.42 range. Unfortunately, this isn't the same type of pattern as the other blockbusters I have seen. Typically, the drawback is less than 30% of the total move. Unfortunately, the high set at $4.08 and then a drop back down to $2.48, is closer to a 40% adjustment and took place on separate days, where as with most others, it will be a day that goes from $2.50 to $10, draws back to $7.50 and then closes in the $10.00 range to continue it's advance in the days to come.

I will hold regardless (have a stop loss set @ $0.98 for a total risk of a little more than 60%) once again, very small position, less than 1% of portfolio. I will be looking to cash out in the $7.00 range for a 180%+ profit. If it is still hovering in it's current range +/- 10% come February (after details of meeting with the FDA scheduled for Jan 20th are announced) I will likely close out the position and look for other opportunities.

BAEVentures

[BAEVentures]

What a wild ride, back up to $3.15 on what appears to be institutional buying. Low movement and volume this morning that piled up heavily at noon EST.

[go4reward]

I think the momentum is gone now until they have news again.

[BAEVentures]

Meeting with the FDA scheduled for Jan. 20. I would look for movement within 7 days of then once they announce the conclusion of their meeting with the FDA.

[go4reward]

There maybe some sign of life for CYCC today. Pre-market indication is for higher in the down market this morning.

[BAEVentures]

Up 20% as the Dow is currently down 140 points. I'm still holding :-).

BAEVentures