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Synta Pharmaceuticals Corp. (SNTA) Message Board

  • jfk123_1 jfk123_1 Sep 26, 2013 9:58 AM Flag

    4% off of only 80K shares traded. More to come. To put into perspective,

    it took 200k shares to drop us 5% at the open on two consecutive days. And that was in the first 5 minutes of trading. 80K of shares in a half hour is easier to absorb in the price and yet almost 5% up. The point is that shorting has much less impact that buying pressure at these price levels and given the technicals and the fundamental uptrend and higher intrinsic valuation. Put somewhat differently, shorting is unnatural and it takes a lot of effort to push this down, whereas buying causes an easier rise because it is natural. The shares naturally want to be at a higher price.

 
SNTA
2.20+0.05(+2.33%)1:46 PMEDT