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  • rman707 rman707 Oct 26, 2010 11:18 AM Flag


    I know it might be hard to explain briefly enough for his forum but could you give even a little insight as to why you say 17.65 is the crucial price point? Thanks

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    • Technicals. Prior resistance levels.

      This has been sold and/or shorted a lot since it reached these levels about 2-3 weeks ago.

      It has been holding up better than it did in months and years past, under similar circumstances. That is a good sign, as long as the only news around the corner is positive news.

      Today's action tough to figure, but I believe a fund or funds have been slowly and carefully selling some of the position in the last 1-2 weeks. Not Baker, because they would have to file.

      I expect it will show this kind of action, subject to macro market pressures, until the next November catalyst(s). ACR presentation around November 10th, and/or earnings call/Analyst presentation in early Nov.

      Phase 3 MF top-line results will be only a Dec event, per CEO Friedman.

      Any news on topical 424 is a wild card.

84.53+2.75(+3.36%)May 27 4:00 PMEDT