Great entry but a very gutsy move! I have been following ATHN for a while now and i agree with you, that it is oversold. However, it kept doing lower lows. If ATHN will do a close above $60.00, then i will join you with a long position as well.
Very interesting day and yesterday. Yesterday and today began with dumb 100k volume to upside while today also ended with strong volume that protected the upside. But normal day volume.
Fundamentals remain the same and because the institutions still have so much of this stock and they have still so much profit and it is both the end of the year in which they will window dress their performance by locking in their profits and especially this year when their capital gains are at 15% rather than much higher if they delay to next year with the inevitable tax hikes to capital gains the natural thing to do for the institutions is to sell sell sell. It would be crazy for them to do otherwise.
As in Apple.
But because this has so few shares owned in ridiculous levels by a dozen institutions and there are so few kids abd naive doctors on the retail side, they can do these rather cheap head fakes in the morning in order to prevent an avalanche.
All of this plus the actual marketplace for their business only strengthens the downside here.
If I am right there will be blood in the streets for ATHN by December 31 if you don't consider the current price bloody as compared to two months ago.