CELG

[Art G]

Perhaps a bit late on this one, but I think CELG should run to mid $80's. JMO though and check it out yourself. It seems they have some orphan drugs that have a good shot at getting approved in the US.

 

[Art G]

So far so good.

 

[Art G]

I have a cost basis here around $61. Hit $69 today. Just an update.

 

[Art G]

If anyone cares, I went ahead and sold my CELG today at $74.79. Just cause. I may regret it....I may not. JMO

 

[Art G]

Ouch. Sold a bit early.

 

[Leonidas]

Ouch. Sold a bit early.

What do you think Art, is there still room to the upside? I got in at $65 and have been thinking it might be time to sell but I haven't been paying too much attention to it lately.

 

[Art G]

Glad to hear you got in! I think long term there's probably more, but in this environment, I've actually got to agree with Cramer, take some profits. Originally I said mid-$80's, and I still think that's a target, however, I thought we just might see another pullback to $63 or so first. Pharma stocks always make me nervous. Good luck with it. I don't know if you were acting on my recommendation or your own pick, but I'm a bit curious as to whether or not I'm wasting my time making suggestions here.

 

[Leonidas]

I don't know if you were acting on my recommendation or your own pick, but I'm a bit curious as to whether or not I'm wasting my time making suggestions here.

No, I bought last November, just weeks before it ran off a cliff (15% in one day) on some good news for a competitor at the same time they got some not-so-great news on Revlemid (sp.) I considered selling then, but I still liked the story and figured it would be back eventually so I decided to own it for a while. But, your interest did give me further reason to believe.

Since then I've been watching the price and been increasingly happy as I saw it go from red to black again, but I didn't really pay that much attention to what's going on with the company.

Pharma stocks always make me nervous. Good luck with it.

They are given to strong reactions, and it seems like anything less than a home run piece of news makes them plummet like a stone.

I think long term there's probably more, but in this environment, I've actually got to agree with Cramer, take some profits. Originally I said mid-$80's, and I still think that's a target, however, I thought we just might see another pullback to $63 or so first.

That might be the right call. I've got irons in other fires at the moment and I'm not sure I want to put any time into catching up on what's going on with CELG at the moment - especially when I'm up 15% in monopoly money that I can turn into real money with a click of the mouse. Hogs get slaughtered and all that.

 

[Art G]

Leo, I could tell you why it tanked when it did, but no one around here wants to hear it and I'm not prone to put it in print.

 

[Leonidas]

I sold at $75.82 on the 11th.