RE:Insider BUYS?I'm a KNOW NOTHING. If I was sure that prometic had the goods and would make BILLION$ in the years ahead, I'd wait patiently for the Black Mamba to wreck the stock price then back up the truck.
If I was sure that prometic has nothing to write home about, then I would sell my position at the opening bell. I do not have that kind of knowledge.
If there is INSIDER buying in the MILLIONS OF DOLLARS, THEN I would take it seriously. But I have provided one instance where a top insider bought $10 Million worth of shares and the company (Allied Nevada Gold) proceeded to go bankrupt. More often than not, when insiders buy, they buy relatively small amounts to prop up the stock price...to give confidence to the KNOW nothing INVESTOR like me to not abandon ship.
Even though I'm a know nothing, I do understand momentum. The momentum is not on your side if you are a bull. The Black Mamba is your new Master. You have to use that momentum awareness to your advantage. Sell half your shares. Take the pressure off your portfolio. Wait a week or two and buy back twice as many shares for the same price.
My biggest misgivings is why this amazing company has not been bought out or provided private equity or no giant pharmaceutical has established a nice stake in Prometic. I proposed that Prometic offer the best investor in the healthcare space (Jonathan Goodman of Knight Therapeutics) a chance to buy $50 or $100 million at these ridiculous low prices. He has over $600 million to invest and Prometic head office is a short cab ride from his office.
I wish you well...and I know I'll only earn contempt for genuinely trying to save you guys some money. That's fine. I'm not profiting on the short side...or on the long side. I'm happy that I was able to buy at $2.87 and get out at $2.77...I even sold my last 100 shares for over $3. That was over the summer months.
there's no guarantees here. We just have to avoid full out CATASTROPHE to stay in the game long enough to make our big scores. I bought Concordia at $44 this past year. It was my best trade getting out at $40. I bought Valeant at the same time and got out with a $5 profit. I had huge gains in mining companies like Endeavour Mining and Silver Standard Resources...but those were not my best trades. Your finest hour as a trader is when you avoid full out disaster.
If you're not sure, sell half. If the action continues to swing violently against you, sell half again. Now you have 75% of your stake off the table. You can always rebuy when things stabilize.
I hope this helps. I don't have all the answers. In fact, as a know nothing, I have none of them.