OCGN is dropping premarket as the FDA has declined an emergency authorization for Children. However, the stock is cheap considering that OCGN is applying for approval in Canada next.
Daily
Biotech is cheap and in my opinion poised for a big run. XBI Biotech index is attractive also. Over the next year I expect it to challenge the February 2021 peak. About $150 XBI.
The main thing to observe about markets is that it lurchs from one panic to another. Just had a Covid panic and now we have a Russian panic. Only 2 years apart. Highly unusual!
If we are expecting an upward move--with oil above 105 --our economy--will constrict--it was not up in February and with hope it may be up in March--the lows need to be tested again---because the highs are in to August -maybe September!
UVXY has made some small pops. 50% to 100% is what we see typical under normal market conditions. These are worthwhile to catch but this isn't high volatility yet. Volatility has been relatively quiet.
VIX and UVXY are all based on S@P volatility. Volatility is lower than would be expected for SPX. I think this is mostly because volatility is still elevated from Covid. Because volatility is already high, the Russian turmoil doesn't do much.
Bought OCGN in premarket $2.40.
ReplyDeleteI bought a larger quantity of this stock and consider this a great opportunity for many reasons.
ReplyDeleteFirst of all OCGN was denied an EUA which is an emergency approval. That's fine because they are also applying for a full approval with the FDA.
ReplyDeleteThe full approval does take longer and requires a trial in the USA.
ReplyDeleteI don't consider US approval a near term catalyst anyways. The reason to own OCGN is for Canadian approval which I think is highly probable.
The US application process will come later.
Biotech is cheap and in my opinion poised for a big run. XBI Biotech index is attractive also. Over the next year I expect it to challenge the February 2021 peak. About $150 XBI.
ReplyDeleteTook some profit OCGN sold some $2.70.
ReplyDeleteSold half
DeleteBuilding a large position in OCGN in this $2 for a run to $11 anticipated June on Canadian approval of their Covid vaccine.
ReplyDeleteBut that's not all! I have calculated a potential $65 target for OCGN on eventual US approval process anticipated 1 year into next winter 2023!!!
ReplyDeleteBought back $2.53
ReplyDeleteAll our stuff's going crazy!!! XLE up again! And RIG just busted through $4!
ReplyDeletesc,
ReplyDeleteUvxy--I am guessing --under 10 is not coming in March?
Markets don't like this rising Oil
DeleteUVXY at 10 seems impossible by now.
DeleteI see 3800 in SPX very soon
ReplyDeleteThe Russian stock market etfs are still weak today.
ReplyDeleteI'm doing modeling of the Russian stock market.
ReplyDeleteBought OCGN July 15, 2022 Calls $7.50 strike for $0.30.
ReplyDeleteMostly just play with the stock because it is super cheap. But figured I'd use some trading profits so these Calls are free to me.
DeleteThe main thing to observe about markets is that it lurchs from one panic to another. Just had a Covid panic and now we have a Russian panic. Only 2 years apart. Highly unusual!
ReplyDeleteWhen I always say conditions are increasing for volatility we can now see we have war layered on top of pandemic. That's fear.
ReplyDeleteThis is what I mean.
Russian etfs trading near lows of day as we go into next week
ReplyDeletesc--RSX--Russian ETFs -are you looking to Buy them????
ReplyDeleteYes I am considering RSX. Next week is an important timing. RSX should see lower lows next week though.
DeleteIf you're going to gamble, RUSL 2x
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ReplyDeleteSC - you had mentioned a UVXY option play for March/April - will we be doing this soon for a volatility event? Seems like we are near?
ReplyDeleteMaybe later in the month we can look at UVXY.
DeleteThe option play I was talking about is not ready yet but it is coming. I'm waiting
guys,
ReplyDeleteIf we are expecting an upward move--with oil above 105 --our economy--will constrict--it was not up in February and with hope it may be up in March--the lows need to be tested again---because the highs are in to August -maybe September!
UVXY was the buy of the year at 12!
guys --we need to bottom today!
ReplyDeleteUVXY has made some small pops. 50% to 100% is what we see typical under normal market conditions. These are worthwhile to catch but this isn't high volatility yet. Volatility has been relatively quiet.
ReplyDeleteVIX and UVXY are all based on S@P volatility. Volatility is lower than would be expected for SPX. I think this is mostly because volatility is still elevated from Covid. Because volatility is already high, the Russian turmoil doesn't do much.
ReplyDeleteBut we're going to get action in volatility this year and yes I'm still planning a big trade.
ReplyDeleteRIG going crazy!!!! $5!!
ReplyDeleteA lot of the concern about the war comes from the fact wars involving the US last a long time. The Afghanistan war was 20 years.
ReplyDeleteThe Russian war will be over in 30 days. Russia is dominating.
Well give it 60 days but this will be a quick war for Russia.
DeleteNew chart posted!
ReplyDelete