Thursday, February 5, 2009

Good news

The shares of the biopharmaceutical company gapped up again in pre-trading, so my purchase yesterday are up big, but I didn't buy the calls because they are just way too expensive. The chatter is starting to circulate and the speculators are driving up the premiums on the call options. They will probably pay off if the results of the Phase III trials are released next month. But I don't want to chase it. I'll wait for a down day where the market takes down all stocks before I buy the calls. Patience, grasshopper...

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