The Olde Chutes and Ladders Game

First, I’d like to preface this blog by saying that I am up 1.35% for the day. Almost every stock in my portfolio is punching Blustar in his Hawaiian face, but one. That one stock just so happens to be my top biotech holding, a stock that I made 18% the last go around and was up 7% on before today’s blood-letting.

The name of the ticker is ONCE.

An interesting name, suggestive of a singular occurrence. My experience with this shitful company is multi-faceted. The stock is down because the company used certain words in their earnings report. See, nothing really happened, since they are pre-revenue and have nothing to sell. Their drugs weren’t declined or delayed; and their data wasn’t poor. The stock is merely down because, well, biotech is a sick bastard game of chutes and ladders.

You climb all the way up, sweating like a beast to get to the top, only to be expeditiously dropped, like a fucking anvil in a cartoon, down a chute into the black abyss.

With today’s drop, I am merely down a little more than 5% from my basis. As a point in fact, this is a great buying opportunity for yours truly. But I wanted to focus on something else now, which is the fucked up nature of dealing with earnings season.

No one is safe. All of your positions are at risk from the chute. One second you’re as happy as a clam. The next, you’re being shucked and swallowed whole, adorned with hot sauce and copious amounts of lemon.

“The Fly” is partaking, if you will, in summer debauchery. He is not available to hold your hand through every miscue. Men in the northeast corridor of the United States value their summers because they know they’re fleeting, unlike you heathen from down south and out west. Men of the north partake, if you will, in a leisurely life because we won the civil war and are entitled to enjoy the fruits of our labor, only during the summer of course.