Couldn't resist. Lost $12k the first time but gonna take a second shot with this pumped up turd. The BOA upgrade just reeks of manipulation. No exact script numbers were released and who knows how poorly they did.mcould have gone from 200 in Jan to 500 scripts in Feb for all we know. My guess is some big boy wants to quietly cash in on the recent run but doesn't want to flood the market with shares and collapse the price just yet. The BOA upgrade pulls in unsuspecting buyers who don't know any better who eat up the shares at the inflated price. I think we see below $17 by end of week and maybe below 16 by end of month.
You and me both. I went short yesterday at 17.39, and was holding my breath as it jumped to 17.56 that it wouldn't bend me over again and run up 5%. Things are looking good today with a serious sell rating and its inability to achieve a new high. I'm also digging all the price targets that are down in the 12-15 range.
I'm actually pretty bullish on the stock, I've been holding it long for months (and still have a long position that is sitting with covered calls to be sold on friday at 15) but at 17+ it's just too rich right now.
I'll hold till about 16, 16.5 and buy to cover then if I can. I see 15.00-16.00 lasting 6 months or more. Not lower, not higher.
On the plus side, if the market takes its correction in the next week it will hammer Irwd pretty hard.