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Holy moly! I hit the lotto! (sort of)
10-02-2017, 10:12 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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Holy moly! I hit the lotto! (sort of)
Those of you may remember I was discussing Endocyte and if there was a way to take control of them when they were trading at $1.20 a share and had $2.77 in cash on hand.
I didn't pursue it any more than just buying 40,000 shares.
Today I wake up and the stock is $2.69 and going up. My account shows daily gain of $55,600.
Last time Endocyte had a phase 3 drug they skyrocketed to $30 a share.
Do the math!
I am going to be in trouble with my subsidized ACA...
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10-02-2017, 10:21 AM
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#2
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Moderator
Join Date: Nov 2014
Posts: 9,181
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Take your original amount off the table with some profit and let the rest ride. Of course if you think it's really going to $30, maybe dollar cost average out of it for a little while.
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10-02-2017, 10:38 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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I sold 10,000 shares at $2.68 this morning which gives me exactly what I need to meet my ACA magi this year (no IRA conversions will be needed). I am letting the rest ride. I imagine I will have some regret later this week when it is $6 a share.
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10-02-2017, 10:46 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2013
Posts: 9,358
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That is really exciting. I hope you get your $30 a share!
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
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10-02-2017, 10:47 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,844
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Quote:
There is also the issue of the mysterious financial agreement that the SEC has ruled for secrecy purposes does not have to be revealed to the public. Would be interesting to know what is in that and perhaps that is why management has been funding the corp
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So now we know 13 million in cash and 6 million shares (1/7th of the company) in exchange for a purchase of a Phase III prostate cancer drug -- it is the definition of a corporate lotto ticket and investors appear to want in! Basically Endocyte says they are winding out of all their other drugs to focus on this one drug.
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10-02-2017, 12:34 PM
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#6
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Full time employment: Posting here.
Join Date: Feb 2012
Posts: 648
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Chart looks so similar to a pipeline I was following a few years ago for a cancer vaccine that had signs of effectively reducing recurrence by 50% in breast cancer survivors... I wanted to see them succeed for so many reasons. It was a fun one to track.
They are a wild ride... but if you invest intelligently (see unemotionally) you can really make a lot off of these. Through a series of selling above $2.50 and buying under $1.50 over and over (it seemed to cycle over a few years between those ranges) I managed to get my holdings up to 50,000 shares. Near the end of their Phase III trials and talks of it headed to $35... it was valued around $2.70 and slowly inching up as the date approached. Then overnight it sunk to $0.24 when the results for Phase III barely missed what they needed.
I was able to get out what I initially put in, but it was a sore morning seeing so much realized potential evaporate overnight.
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10-02-2017, 01:42 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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Maybe sold that 10,000 shares too early. The stock went up another $0.50 and is now around $3.30.
I am looking at some pretty big gains on the remaining 30k shares. Maybe at $10 a share I can go Wheeee!?
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10-02-2017, 02:01 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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Ack, it is closing at $3.70+!
If I had not had internet access today I would have made another $12,000 by not selling some shares.
I have never been in a rocket ship like this before. Fun! I can see this getting addicting.
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10-02-2017, 02:11 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by Fermion
I sold 10,000 shares at $2.68 this morning which gives me exactly what I need to meet my ACA magi this year (no IRA conversions will be needed). I am letting the rest ride. I imagine I will have some regret later this week when it is $6 a share.
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1- I never heard of this stock
2- I think you win the best stock pick of the year
3- I understand not wanting to lose ACA subsidies, but how does one evaluate
maximize earnings vs loss of ACA help. I dont use the ACA so I dont know
the ins and outs, but one would think If I get 10k a year in subsidies and I
can earn 15K with a few clicks of the mouse I would take the 15 and pay
taxes I would be a winner.
Again you hit the lotto , I bet a lot of research went into it, and you found a winner. congrats with the other 30k shares, I hope it goes thru the roof,I like success stories. If i bought 1 share it would tank so I wont touch it .
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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10-02-2017, 02:48 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Jalisco, Mexico
Posts: 1,747
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$4.37 in after-hours trading! Zowie!
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10-02-2017, 04:42 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Now to play devils advocate, I have been giving this situation some thought. You sold a certain amount of stock to stay below the ACA limits. Had you not worried about losing the ACA you might have sold more. Thus have ACA subsidies in your case might have earned you a bunch more.
Either way its a home run, picking a winner like this is what dreams are made of.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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10-02-2017, 04:45 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by EvrClrx311
Chart looks so similar to a pipeline I was following a few years ago for a cancer vaccine that had signs of effectively reducing recurrence by 50% in breast cancer survivors... I wanted to see them succeed for so many reasons. It was a fun one to track.
They are a wild ride... but if you invest intelligently (see unemotionally) you can really make a lot off of these. Through a series of selling above $2.50 and buying under $1.50 over and over (it seemed to cycle over a few years between those ranges) I managed to get my holdings up to 50,000 shares. Near the end of their Phase III trials and talks of it headed to $35... it was valued around $2.70 and slowly inching up as the date approached. Then overnight it sunk to $0.24 when the results for Phase III barely missed what they needed.
I was able to get out what I initially put in, but it was a sore morning seeing so much realized potential evaporate overnight.
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You took a shot to make it big, I like that idea. I rode things into bankruptcy trying to hit it big. But at least we tried.
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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10-02-2017, 05:45 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2016
Posts: 9,525
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WOW! I hope it gets to $30 for you.
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10-02-2017, 06:25 PM
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#14
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Recycles dryer sheets
Join Date: Apr 2013
Posts: 127
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Sweet move! Tell us about some other stocks you like.
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10-02-2017, 06:36 PM
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#15
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Moderator
Join Date: Jul 2017
Posts: 5,776
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Great news!
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10-02-2017, 06:42 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Jan 2005
Posts: 3,532
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Wow! Happy for you. Hope it keeps going up.
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10-02-2017, 06:53 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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Hah! I would not suggest that I am some stock guru now. I just got lucky although I have been following this stock for quite some time and posted several threads about it.
That being said, I did get an private message from a ER.org member who saw my posts and bought 15k shares and booked a $12,000 profit today. I keep her/his name anonymous but I was shocked that someone would do something like that. I am very glad it worked out well and told them to buy themselves a steak dinner!
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10-02-2017, 07:09 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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And I wasn't the anonymous poster. I will just live vicariously through your trades. Congrats!
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10-02-2017, 08:14 PM
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#19
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Recycles dryer sheets
Join Date: Apr 2013
Posts: 127
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Quote:
Originally Posted by Fermion
Hah! I would not suggest that I am some stock guru now. I just got lucky although I have been following this stock for quite some time and posted several threads about it.
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Well, I'd credit you with more than dumb luck. I personally don't have the patience or attention span to analyze a 10K even for a viable company, much less one that becomes a 'penny stock'.
However, I love to pick up on the sage wisdom from those who spot opportunities in otherwise risky situations.
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10-02-2017, 08:27 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,242
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The one thing that I will ask if how many others like this have you bought that you lost money on?
I am happy for you this is hitting, but if you are like someone who gambles they just talk about their winnings and do not mention all the losses.
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