Human Genome Sciences Shares Decline After FDA Recommend Benlysta

Elmo the Investment Banker is killing traders. 
Stick to Sesame Street Elmo. 
You aren't cut out for Wall St.

Just after Tuesday's FDA Recommendation for Human Genome Sciences' Lupus Therapy Benlysta, Citigroup and Bank of America downgraded the stock.  Obviously, they mistakenly shorted the stocks and wanted to get their money back after guessing wrong on the FDA decision.  The drug was recommended by a 13-2 vote.  It is very similar to other cases in recent FDA Approvals, where the stock has actually has gone down on good news, not up.

Manipulating shorts cover their positions by making sure they got analysts on their side to downgrade a stock in case a Panel vote goes against them. Here is a perfect example of how Hedge Fund Shorts cover their positions:

Two downgrades Wednesday morning, one each from Citi and Bank of America/Merrill Lynch, reflected these new concerns and sent Human Genome shares down 7% to $23.98 in early trading.

An advisory panel convened by the U.S. Food and Drug Administration voted 13-2 Tuesday night to recommend Benlysta's approval as the first new lupus therapy in 50 years.

YouTube Credit Card Rant Gets Results

I mostly write about BioPharma Stocks but this does deal with a prominent stock Bank of America (BAC), who's stock price has risen considerably from the bailout period a year ago. The Debtor's Rant/Revolt Youtube video sets up some interesting points that could possibly hurt a stock or our country, which could happen. Theoretically this could cause an uproar and maybe another state of depression that we are currently experiencing. But could it possibly happen?

Would enough people risk hurting their credit? What could happen to our country if there was another tax revolt? This country was founded on a tax revolt so it's not exactly hard to imagine if people would form a revolution against Big Business and Wall Street. I still make trades but I am somewhat cautious on my trades as anything and everything can happen.