It will be interesting to see if yet another MF news release of their CAPS investors moves the stock in the direction they assert. These guys always seam to show up with news releases about stocks I happen to track or own asserting breakout or pullback opinions that are typically way off the mark. Has anyone charted their success with spotting the future movement of SNSS?
I guess what bugs me most about the MF opinion is how it starts out with “based on the aggregated intelligence of 180,000-plus investors”… then you read on… ‘of the 96 investors participating in the survey 30% believe SNSS will underperform the S&P’…, and then the kicker is of this group they publish one investor's rather confusing opinion. The most important fact they should present is that whether it’s one MF superstar, 30% of 96 MF’s or 180,000 MF’s they are collectively just part of a very tiny percentage of ownership (3 to 4 percent) that are riding along with the big boys that are placing serious bets on the outcome of clinical trials.
MF is easily the worst financial resource out there - even the worst articles in Seeking Alpha (which actually has some good posters) are more technically accurate and well thought out than the average MF analysis.
What is so disturbing is MF is awarded a headline "Why Sunesis is Poised to Pull Back”.
Stochastic’s have us overbought, we have been stuck in a trading range (4.90 to 5.90), and volume is below average so news flash chances are we will pull back, and then what maybe cycle repeats?
For me it seems like MF is looking for a reason to get out one MF investor’s opinion (or a completely contrived opinion) regarding an interpretation of last Septembers DSMB’s findings. What is interesting is DSMB’s findings last September triggered the most significant run in many months, a run supported huge volume and a run that has sustained a trading range. MF is either struggling to fill content, working for the Bigs, or a complete joke.
There are many many risks with an investment in SNSS but the least of these is dismissing the opinion of MF.