It's been good to see the change in trading atmosphere here in CRIS. Don't know if you've had an opportunity to watch L2, but as of Tuesday there was a clear change in the actions of the ax MMs and it has continued all this week.
Agree with the traffic in the $4.50 area +/- $0.10, a lot of chart congestion, but will point out that I believe that the bulk of the 3M shares that were shorted between Jan and July were initiated at prices from $4.50 to $5. If this is the case, we may not need news to propel us through as the covering has to be done even if positive momentum continues.
Here's another way a trader would look at it. Many of those older shorts covered on 8/2 making very good profits which produced the bounce that day. Then when the area that I mentioned from earlier this year that was support didn't hold, that gave a green light to throw the shorts on-either, new or additional positions. Now that we're heading up those positions will be defended with additional short selling at that area or else they eat it or keep losing profits. Since we haven't had good volume even in this upswing, that's why, imo we need a good shot in the arm news event which we may have in the next 5 days. Either way Curis will win; just a question of how quickly. glty and have a great holiday weekend!