The average price of teh stock finally shot up through the 50 day price for the year. Last time that happened on this stock was Jan 2012. That always makes a stock rise hard during the day it happens. Because that price will be the bottom for the year and keep rising from there. The 50 day average price is at 2.47 that would be the bottom for the year. Im thinking about getting in it right now because of that.
Most of the time the media will put out good or bad news right around major price moving average crossovers, just to give the stock good or bad sentiment with investors, so the rally is stronger. Think about it. GRPN NOK VELT SREV and hundreds more, all these stocks are rising off of this years lows and going into 2013 on strong buying rallies all at the exact same time. Its because their price moving averages have crossed up this month and last and not because of the "timed news" they put out on it.
Why do you think all these stocks suddenly start rising on the exact same trends at the exact same time every single year. Hard rising in January. Most stocks average a $2 - $7 rise per share by Feb and March. Then fall during spring and summer. Bottom out in fall. Then start rising hard again by the end of December into the next year January. Same cycle every year.
Because they all finally had good news at the exact same time? lol pssh yea right.
Alot of those stocks have fallen every single month all year like NOK and GRPN then bottomed out at the exact same time just in time for January's rally. Its the moving average not the news. NOK still sucks but they have you thinking something bigs about to happen and thats why it finally bottomed out last month and now on a rally. LOL
I trade on moving averages not news. And I make good money off of it. The news always comes after the crossover has already happened. Thats why Im always in it way earlier than the news happy investors get there. Good example. VELT this week. Bought that one last week at $3.79 on a nice rising average and 3 days later all of a sudden big news comes out that they've got the BIGGEST thing since TV. Electonic coupons. A partnership with another company to bring the world electronic scanned coupons on everybodies Iphones. woohoo!. It shot up to $5 this week in less than 2 days and only going higher.
Moving avergaes make you money not news. Well.. more money than you could've had waiting on it anway.
What sucks about the Medimmune deal is that the financial terms weren't disclosed. I think it is a disgrace to keep the details secret as PGNX management owes shareholders that information considering how badly we have been hurt this year. Just why do they need to keep the financial terms secret as that can't possibly affect development.