Many people bought at 7+ and now they are scared. This is normal weak hand shake. Every when I read something like „what now ?“ „Where is Bruce Kovner now ?“,etc., I think You should sell nervous idiot, buy some seed and plant vegetable, dont play with stocks. Right now, we are waiting for results of Enchant Phase 2. Primary date in september, complete date in october. Is it too far for some neurotics ? But there is some good reasons for no panic.
1.Insider buys at 5+ and they dont sell at 7+. Is any sell on some fillings ? No. In scam scheme, they could tell „we have supercure for cancer, dying, hemeroids, we call it Fountain of Health“ etc. and then sell all to stupid idiots with hemeroids. But they don´t sell. So they believe in ganetespib and they have insider info.
2.Look at the chart – we rose from 3,8 up in straight channel, then fall to 5,2 and frenzy pop to 7,7. These movement s look very similar, mirror like. Now we are back in the channel, dramatic episodes are gone. 6+ is the right place for this and maybe next week
And now some reason for panic.
1.Overall market. Dow and Nasdaq are very high. Big guys unloading and retail is buying. Correction will come. It can splash SNTA too. When ? I don´t know. September, october, thats favourite months.
2.We have too many weak hands. They will sell in panic and take a loss as usual.