lost 13k today

[kreactor]

heavily invested in elan (eln)

1 (one) patient died, drug voluntarily withdrawn from market

w t f!

http://finance.yahoo.com/q?s=ELN

it's gonna be one bad year of the rooster!

edit: my unemployed + "head in the clouds" younger bro was an even bigger idiot, he got margin called and is now (-)8k (he was up at least ~50k profit at one point but refused to sell citing capital gains issue)

 

[NathanBWF]

ouch!

 

[meltdown75]

eek, ouch

 

[CPA]

oh, man I heard this on CNBC. Took me back to the days when the company I work for stock tanked. Luckily, it's slowly been coming back.

 

[Aharami]

sorry to hear that

 

[Ameesh]

why would your brother be using a margina account when he's unemployed, that seems extremely risky in the first place.

 

[Muadib]

Your brother is a greedy SOB! Cant feel sorry for him, but here's a :beer: for you to cry in.

 

[lozina]

give a smack to the back of your brothers head for me, woulda ya?

 

[iversonyin]

its expected from Bio tech...whats new? Vioxx anyone?

 

[toant103]

don't trade stock, trade foreign currency.

(Forex)

 

[fs5]

I thought my 10% loss from CIEN the other day was bad. (which only equates to ~$500). :beer:

edit: the beer is for you

 

[lozina]

Originally posted by: toant103
don't trade stock, trade foreign currency.

(Forex)

You one of those guys who invested in the Yuan betting on the currency breaking free from the dollar?

 

[Zenmervolt]

So basically, you both were stupid enough to buy it at a high point. I still don't understand why anyone was buying anything between '99 and '02. It was an obvious bubble and there was nowhere for anything to go but down.

Now, if you'd been sensible and bought in late '02 you'd be in amazing shape. Still, it's trying to time the market which is foolish in itself. Diversify, diversify, diversify.

ZV

 

[Queasy]

Man we are such pansies now. Penicilin would've been pulled from the market in today's society...

 

[dmcowen674]

Way to go Elan and Ciena :thumbsup: :thumbsup:

 

[Yossarian]

the good news is that your brother doesn't have a capital gains problem anymore.

 

[DaveSimmons]

This is why I buy and hold index mutual funds like VFINX (Vanguard S&P 500). Low risk, decent return, no timing or news-watching needed.

 

[lozina]

Originally posted by: Yossarian
the good news is that your brother doesn't have a capital gains problem anymore.

:laugh:

 

[FoBoT]

<Nelson> Ha! Ha! </Nelson>

that is the risk you take buying individual stocks, you win some , you lose some

<Nelson> Ha! Ha! </Nelson>

if you can't take the risk, buy an index fund

 

[nippyjun]

Is this a buying opportunity for ELN?

 

[gscone]

I doubt it...Any stock that takes a 48% hit may not make it in the long run. SHortin it may make some $$ for u.

 

[freegeeks]

my company stock is up 57%



just rubbing it in

 

[GasX]

<= bought Elan low and sold Elan high...



Sorry about your loss...

 

[nippyjun]

Originally posted by: gscone
I doubt it...Any stock that takes a 48% hit may not make it in the long run. SHortin it may make some $$ for u.

Did the company rely on this drug that was pulled for most of it's revenue?

Or is this just overselling in the wake of the cox2 fiasco.

 

Now your bum brother is going to have to get a job.