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Opko Health, Inc. Message Board

  • burnaka Jul 2, 2011 10:43 AM Flag

    Where from here???????

    A few interesting notes from last week. Thurs. and Fri this stock closed at the high of the day. The stock also closed at the high for the week. The low for the week was set on Mon with 5 consecutive higher lows. Nearly half of the daily trading volume was in the final hour each day, and the daily high was established or tested each day during that final hour. The block buys in the final hour were large, one in the 250k share range, and at least one 185k.

    Prior week. The weakness in this stock led it to a low of 3.15, and looked to head to the upper 2's, as mentioned else where support numbers 3.12 and 2.88 were next landing spots. This downward spiral corresponded to a general market sell off, but also started the week of the Jefferies presentation.

    Opko stepping to the plate to buy back shares marked the end of the down trend, but the general price movement lends me to think the stock was manipulated down. With approx. 10 million shares short, it was the perfect time to cover, MM who were at the Jefferies presentation were allowed an opportunity to buy cheap, funds and longs were allowed an opportunity to dollar cost down. Strange though but for most of the week Frost was on the sideline. We will see about Fri on Monday.

    If the fund or funds are content with the amount of shares they were able to accumulate in the down trend, and now the uptrend, the stock will continue up, if not they will manipulate it down again.

    Looking at the block buys in the final hours over the past few days I doubt the buying is over. I am expecting a move into the 3.80-3.88 range next week based on this. With my neck on the line, and all this said, the stock will move where the MM push it. The stock closed on consecutive days at the high of the day, that has not happened in the past year. That is part of my basis for the going higher thesis.


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    • Ya.

      I have a thought for ya.

      Nice call. :-)

      • 1 Reply to icemandios
      • <<Where from here>?>>

        If we get some news, on February 7, from this same level it went to $4.20 that day. :)

        Some of the selling in the earlier half of June, was probably related to the stock dipping below the EMA200
        Some people say that is the same that happened to even some of the 'leaders' like AAPL at about the same time.

        Other technical comments somewhere else.
        It seems that notes here have to be as short as in Twitter or won't post.

    • Great analysis - thanks for your thoughts. I did notice extremely heavy buying at the final hour of each day and to me it looks like someone does not want to make too much noise making these purchases.

      Another thing I noticed is the absence of Dr Frost. That along with the above analysis leaves me to believe there is something cooking and we should have more clarity over the next few of weeks.

      • 1 Reply to romanson3625
      • burnaka Jul 3, 2011 9:04 AM Flag

        I have seen this same type of pattern recently when David Tepper was buying shares of DF. The on close buying and closing at the high was a clue there as here. It appears to me someone is loading the boat though. A second thought regarding the possible absence of Frost last week is this; Insiders cannot buy or sell from the second they become aware of information that would affect share price. Once the information is made public they can do whatever they want. I have no clue where they plan to manufacture the test kits but have been expecting that information daily. I think that is the next news.

        If we see a Frost buy for this past Fri., then we are assured no decisions or news is at hand. With the buying pattern Frost has no buys is a buy signal or possibly a sell signal, if the AD test results did not confirm.

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