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Vertex Pharmaceuticals Incorporated Message Board

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  • A Yahoo! User Dec 3, 2012 1:23 PM Flag

    No buyers here at this level

    Eastern TA is about signals... not that this symbol means XYZ. The intentions of a doji is that it is a market that is taking a breath, before resuming its efforts which are shown by the close after the doji. A double doji indicates double the strength and double of the corresponding move. So one of two things could happen here... the price could quickly reverse as your insult above postulates... or this could be a sign of the renewed strength of the already existing negative trend.

    The bottom line is that the close after the doji establishes the meaning of the doji. And the close has to be outside of the shadows. Because you are clearly so smart, and I am an idiot, I don't need to explain to you what a close below last week's shadow lines means...

    And as to why I called the double doji the kiss of death... 50 day below the 200 day average, no near term potential catalysts, declining sales revenue, failed study deadline completions, failed accuracy in reporting clinical results, increasing operating and R&D costs, arrogant management, year end and what fund manager wants this dog on their balance sheet, etc.... so the double doji as I interpret it is the market more or less gasping and saying "oh crap" as this stock crests the edge of a waterfall...

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    • You're making the classic mistake of viewing price discovery within the very narrow vacuum of of technical analysis. Markets, like nature, abhor vacuums. Markets ultimately react and overreact to data; and in the case of Vertex, analysts' interpretation of data. This stock is continuing its decline from Goldman's opinion that the Kalydeco/VX-809 data isn't up to snuff; combined with a data drought.
      As we get data on VX-787, VX-661, etc. the stock will move up dramatically and other technical analysts will find some obscure formation to explain it; leaving the sellers of the double doji wondering where they went wrong.

 
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