Take a look back at VNDA (who has a big day coming up soon with the agency). Now this was NOT just PII data, this was Phase III pivotal data for their NDA that came out. November 11, 2013. Remember it well. Between Monday November 11 and Friday November 15, 2013 VNDA went from around $6.50 to $14.60.
Then on Monday November 18th it was down a lot (can't remember exactly how much, but I remember thinking that I wish that I'd sold it earlier). It continued to dive all the way until December 11. One month to the day. Then it started it climb back up to where it is now, getting ready for an positive nob from the FDA. VNDA simply ran out of room to run, over bought and then was walked down by those people in the fancy suits and ties.
It is what it is. A game to those who control such things. It the end, you just hope the patients get a good drug out of his strange game.
you learned from your experience which is great, some never do. I've been caught going long and staying much too long, which is why now I look for tops or close to it (difficult to time it perfectly) and play the stock the other way especially stock like this one. I've seen these bio co's suddenly drop way more than this one recently went up. It happens all too often. They need $, something goes wrong, the fda wants this or that and next thing you know people lose faith and it drops like a rock. I do hope that in the end this drug works out and helps people, but when a stock seems over bought I will short it.