so i find the whole issue of short interest covering baloney, they in feb16 2012 went from overweight to equalweight, and now to underweight...short interest has really not changed, there are much larger unlying issues here and longs will be at the mercy ofthe shorts a while longer.......key support levels are 18 when incyte got the lazars upgrade and then the 50 day moving average at 17.50, if this istaken out , a move to 16s is likely........incyte is still struggling to get past the 2q report
Last time (with the stock downgrade) the stock rose adjusted close (day before vs trading day) from 17.27 to 18.02. Immediately thereafter it trended down into the 16's and then 1 month later gapped to 18's - 19's. Looking it at the weekly's event it was a "blip" on the weekly's trading down really only for about a week. Basically a non event. An irritant -- kind of like Maddi3sum.
Keep up the good posts tj and keep maddi searching for her 8-balls because they arn't magic any longer!