The last few days have been quiet both in terms of news and movement so I have not really had any updates. Today however, was surprisingly active – with apparently little news driving things.
SPPI put in a very strong day with the stock punching through the $15 level and holding to close at $15.50 (up 6%), close to the new 52-week high of $15.53 on nearly 3x average volume.Hopefully this will represent a solid break through the resistance that has been establishing since early December. I did not read of any specific drivers of this move – but anticipation of earnings, continued shortages of Leucovorin, general bullishness due to the INHX acquisition may all be factors.
DSCO also had a good day, closing up 11% at 1.95 9on 4x volume). Here again, I dod not see any solid reasons driving the move. This is getting close to my target for selling (~$2.02). I am not all that convinced of the company’s potential so I will probably take at least 50% of the position off the table if the target is reached.
ASTX was up 3.6% on lowish volume. This is also getting close to initial targets but I am more inclined to give this some room than DSCO.
Finally, CRIS closed up a shade under 1%. It has seen a decent pullback since it’s highs in the last week or so. Hopefully is is ready to resume the upward trajectory.
All in all, therefore, a good day with the portfolio up 6% on Friday’s close. I am fully invested with a small amount on margin. I am looking at establishing a couple of additional positions. If I decide to do so I will increase my margin – or will raise some cash if DSCO & ASTX reach targets in the near term.