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Synta Pharmaceuticals Corp. (SNTA) Message Board

  • apachefogg apachefogg Apr 29, 2014 1:52 PM Flag

    rlbeard....you ask me why I think SNTA will break out on E/R?

    I know for a fact that it will,based on several indicators.
    I have relied on Elliot Wave Theory since 1999 along with several other tools to verify a stocks direction.
    Elliot Wave is not voodoo.It is based on the principals of capitalism which is fear(selling) and greed (buying and locking in profits) and the direction can be further confirmed through the MACD and trend lines.
    I have successfully used it and been right the majority of the time if I have the correct wave count.
    SNTA 1st macro wave up ended on 11/28/13 @ $11.81.Since then it has been in a macro 2nd wave down.
    As long as the price does not break below $3.68 on 11/13/13,the count is still in intact.
    As is,SNTA broke out of it's downtrend on 4/8/14 but gave up all gains the next day.
    Since then,the price keeps retesting the low of $3.92 while showing a positive MACD convergence.
    This indicates to me,having broke through trend lines twice,with a positive MACD,while continually retesting the lows due to short selling that SNTA is in the infancy of a macro 3rd wave up which will be sustainable and last for many years with retracing(selling to lock in profits).
    Drawing a trend line from the macro 1st wave(I can not extend it because of limitations on the graph at this point)....indicates to me that SNTA can and will be $20-$30 per share in a year or less.
    I do not usually invest in stocks with a $300MM mkt cap but I am convinced of the potential of Ganestib,that SNTA is in a macro 3rd wave up,and potential for the price direction....that I will now be a long term investor in SNTA
    Last of all, 99 institutions and insiders own @ 85% with one insider laying down $5MM which he did not need to do.This also makes me think that is all SNTA needs for solvency before revenues start to come in.
    Laugh if you want but I am certain that I am correct

    Sentiment: Strong Buy

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    • They're going to need a hell of a lot more than $5M additional to get Ganetespib to market.

    • good post, thanks

      Sentiment: Strong Buy

    • jstokcton@gmail.com jstokcton Apr 29, 2014 2:15 PM Flag

      So your saying I should buy more?

      Sentiment: Strong Buy

      • 1 Reply to jstokcton
      • I do not give advice.......only opinions.
        No MB poster should take the advice of someone they do not know.
        If I told you the amount I have bought,you would think me either arrogant or lying.
        I will tell you my average is @ $4.25 and I had to sell some of another stock(starting it's 3rd wave up) I did not want to sell to buy the amount of SNTA that I have now.
        I definitely would not sell unless E/R is bad which I think will not happen.

        Sentiment: Strong Buy

    • With that being said,I am surprised SNTA has not given up today"s gains due to this being a toy for shorts who know E/R is a week away

      Sentiment: Strong Buy

      • 1 Reply to apachefogg
      • thank you for your pleasant response, while I do look at charts for guidance I do not put any faith in them as they are backwards in vision not forward, I have a cursory understanding of EW theory but as you say it may work for you most of the time but not always and the not always is what puts relying on it in the voodoo range not that I wouldnt consult it. What I do like is the fact you dont really rely on it either IMo as you mention that drug approval, the director buying and the huge huge institutional ownership which are two of the reasons I got in plus the fact that $4 area has held so many down turns before and when this goes up on news it is explosive. I use stochastics and MACD also for guidance and I do not see the turn in Macd to be convincing yet. I do hope you are right I took a day trade profit on a trade today but working on getting my overall cost down wihich is down from an original 4.18 now to 4.06 and still working on it. I got in the first time at 4.38 and it continued to fall and I continued to double and double up again. and now trading I hope we both see 7 or 8 before summer is over. Unless they come out with new news then ER will be a nothing as earnings will be a loser as they have no income. So we both hope they have some substantial news but if they did they would have already reported it and not hold it to earnings unless it comes up in the next couple of days IMO

 
SNTA
2.35-0.07(-2.89%)May 5 4:00 PMEDT