Selling on news is a mantra. Generally the news is anticipated...

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daveg

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14/01/21

12:07

Post #: 50163379
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Originally posted by bedger: ↑

I've said it before a dozen times and said it again today. Sell on the spikes people and buy back in between. People who missed selling in the 60's and are doing so here are a bit silly with all the announcements round the corner. This is FDA approval. This will carry to the Australian media and unlike other announcements, by virtue of the FDA, make the wires in the good ole' USA (well actually rubbish, but hugely influential).

Unlike past typical OCC one-day announcement spikes I think you might see some more buying tomorrow from US orders, particularly if it is mid 50's and some Australian Institutional buyers once they've done all their little valuation calculations today.

If you told me yesterday at $0.46 we'd only be trading $0.56 on the first of three likely FDA CelGro approvals, I'd say the market was under-valuing the risk adjustment to forward earnings based on the positive news. As other companies have shown recently, FDA approval is no foregone conclusion, so this is a massive positive for CelGro Nerve and CelGro Tendon.

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Selling on news is a mantra. Generally the news is anticipated and hence it is sold into.
This news was essentially not expected (or was sooner than expected).
As such selling today on FDA news will likely be seen as a mistake within a very short time, it is more a buy than a sell IMHO.

OCC Price at posting: 57.0¢ Sentiment: Buy Disclosure: Held
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