The second half of May through July is the strongest part of the year for biotech due to all the conferences. I think we could retrace some of this biotech rally between now and then. Of course, this will matter on earnings.
You're right about the large swings but wrong about the HOD and LOD. It didn't reach either level. The bears never gave up keeping it down and I will give you that. As for defending it, only the big shots at CELG know whether or not tomorrow's ER is good or bad and we all have to wait on it. There seems to be a lot of analysts who are bullish on it so it's not a given like you suggest that it will disappoint. Now give it a rest.
Powerful forces out there kept it down most of the day then when it got back to even they drove it back down 1.40 in about 20 minutes. Now that's bearish commitment. We'll all find out tomorrow morning if they were right or wrong, won't we?
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Using AAPL as a guide with a 5% earning miss and a 6-7% decline in the stock. When cel-turd misses and guides lower tomorrow it being a smaller market cap company will likely be down 10-12%.
Ok ..so AAPL is down 7% today but cel-turd is down $3.7% so far in just over 2 days. Want to see what will happen to cel-turd after earnings? ...take a look at an AAPL chart.