incy is the only red on my screen of everything I own. As I said the shorties eventually prevail. I wish I had the stomach for that business as I think it can be more profitable than traditional investing. But you have to have nerves of steel.
Too many short-termers got into INCY in recent weeks.
I expect it will keep going down until the short-termers are all washed out of INCY.
Once that clears, I expect INCY will move back up.
So, to answer your question: It's the short-termers. The hedge funds know this and are working the price and volume at advantageous times to get the short-termers weak knees and poor psychology buckling. Works like a charm, most of the time.
quantman07, I dumped all of my INCY holdings as of last week as posted and put every dime I have in GS last Friday and more on Monday. Dollar cost average of $156.50. I respect your posts and knowledge, but INCY is a day trade stock as of lately. $14.98 to $13.70 in days. Please tell me why you did not sell and pocket the 8-9% you have lost in profits. There are times when a sell is called for and $14.98 was it for INCY at this time. The HF are FN with this stock which I have held since the 4 dollar+ range. I have it all in GS. Good luck to you Sir!! ROCK