After seeing FOLD die for the 2nd time in 2 months I am seeing a pattern develop of a big fall after a report whether or not it is positive or negative.Rhere was nothing in this report that warranted a $1.00 fall in the price.Are the shorts just picking biotech stocks and the writers pumping negative stories to nake some fast money? Any opinions?
You are correct - as long as the headline reads did not meet primary endpoint, the momentum players will take it down as low as possible. This usually lasts a week or so before the educated players come in to bring the price back to a reasonable level.
Show me the negative story with today's drop. Nothing but positive as far as I can tell. It's a long weekend and traders most likely just used the news cycle to sell out for the weekend. It'll be back up Tuesday. I took the opportunity to load up the boat. :)