{"id":23599,"date":"2013-01-28T17:38:49","date_gmt":"2013-01-28T22:38:49","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=23599"},"modified":"2013-02-17T23:02:12","modified_gmt":"2013-02-18T04:02:12","slug":"kerx-morning-preparation","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation","title":{"rendered":"KERX Morning Preparation"},"content":{"rendered":"<p>Here is a short clip of my discussion of KERX from today&#8217;s AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs and VVUSs run much farther than less experienced traders expect and therefore they fail to capitalize on these outsized moves. Even worse some try to be &#8220;too cute&#8221; and get short causing them to take unnecessary losses. \u00a0Imprint this setup on your brain it will happen a bunch of times every year.<\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.youtube.com\/embed\/cm4ugGNOCeA?wmode=transparent\" frameborder=\"0\" width=\"560\" height=\"315\"><\/iframe><\/p>\n<p><a href=\"http:\/\/twitter.com\/sspencer_smb\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is sspencer@smbcap.com.<\/p>\n<p>No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here is a short clip of my discussion of KERX from today&#8217;s AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-23599","post","type-post","status-publish","format-standard","hentry","category-steven_spencer_steves_blogs","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KERX Morning Preparation | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KERX Morning Preparation | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Here is a short clip of my discussion of KERX from today&#8217;s AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-28T22:38:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-02-18T04:02:12+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\n<meta name=\"author\" content=\"sspencer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sspencer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\"},\"author\":{\"name\":\"sspencer\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/8eabc642d328f902a341eb510c67ef27\"},\"headline\":\"KERX Morning Preparation\",\"datePublished\":\"2013-01-28T22:38:49+00:00\",\"dateModified\":\"2013-02-18T04:02:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\"},\"wordCount\":142,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"articleSection\":[\"Steven Spencer (Steve's) Blogs\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\",\"name\":\"KERX Morning Preparation | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"datePublished\":\"2013-01-28T22:38:49+00:00\",\"dateModified\":\"2013-02-18T04:02:12+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage\",\"url\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"contentUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"KERX Morning Preparation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/8eabc642d328f902a341eb510c67ef27\",\"name\":\"sspencer\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/sspencer\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"KERX Morning Preparation | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation","og_locale":"en_US","og_type":"article","og_title":"KERX Morning Preparation | SMB Training","og_description":"Here is a short clip of my discussion of KERX from today&#8217;s AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2013-01-28T22:38:49+00:00","article_modified_time":"2013-02-18T04:02:12+00:00","og_image":[{"url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","type":"","width":"","height":""}],"author":"sspencer","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"sspencer","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation"},"author":{"name":"sspencer","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/8eabc642d328f902a341eb510c67ef27"},"headline":"KERX Morning Preparation","datePublished":"2013-01-28T22:38:49+00:00","dateModified":"2013-02-18T04:02:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation"},"wordCount":142,"commentCount":0,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","articleSection":["Steven Spencer (Steve's) Blogs"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation","url":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation","name":"KERX Morning Preparation | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","datePublished":"2013-01-28T22:38:49+00:00","dateModified":"2013-02-18T04:02:12+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#primaryimage","url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","contentUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/kerx-morning-preparation#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"KERX Morning Preparation"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/8eabc642d328f902a341eb510c67ef27","name":"sspencer","url":"https:\/\/www.smbtraining.com\/blog\/author\/sspencer"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/23599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/143"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=23599"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/23599\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=23599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=23599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=23599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}