Snow in California and slippery slopes

I drove down I-5 thru the Grapevine, where we got tons of snow yesterday. I actually pulled over at a rest area to throw a bunch of snowballs (at trees, not people). It was the most fun I've had in a while, but my hands got really cold, and all I had on was a t-shirt.

Then as I descended upon the Valley, the full moon was shining brightly against a backdrop of some clouds. It was as clear an evening as I ever remember in LA. The rain must have cleaned out the smog temporarily. Traffic was light, probably due to the tattered economy.

The City of Angels really is beautiful when you can see all the lights against the hills. It made the long drive more bearable.

It was a good day, as the biopharma company was up big again, with CNBC now reporting it in New York at the biotech conference. I got in at $4 last week, and it closed above $6 today. If Phase III trials are positive, it'll double from here. If they're negative, it'll collapse back to $4. We'll know next month. Biotech investing is a slippery slope--it can be dangerous as most drugs in clinical trials fail, but when they hit, it's a beautiful thing. Kinda like LA.

Next up is a melanoma drug company, with results due in the 2nd quarter. People afflicted with this aggressive cancer can't wait--there hasn't been an FDA-approved drug in 30 years. It's do or die. Which makes this play dicey for investors, but more importantly, patients really need some positive news.

The government's stimulus plan should include investments in biotech and stem cell research--that's where the new frontier is. We need to find cures for these terrible diseases. A lot more than we need more frisbee golf courses.