How can anyone manipulate stock price like this. Are there no hedge funds invested in this anymore, they don't this as buying opportunity? Heavy volume coming out, this is worrying.
Today is options expiration day. A lot of money can be made by the people who sold call options if Questcor is down today.
The only other news which could account for the selloff is the Republican vow to defund Obamacare. QCOR's drug is very expensive and if insurance doesn't cover it the average person can't afford it. Anything that raises uncertainty about health insurance has a disproportionate affect on QCOR.
I have no dog in this fight since I sold at $61 when QCOR violated it's technical support 50 day EMA.
Today could be a great day for buying a LEAP
Hedge Funds know better than to try to catch falling knives. Wait for it to rest on the ground, then pick it up safely. Even if you miss the bottom (as though any ever gets it consistently), you buy when you know exactly where the bottom is (known risk).
Buying opp? Here's a news flash for you, this isn't HF selling, it's the HST guys. All naked shorts.
Plus, these guys don't fight each other, they try to kill all of the investors. So if one guy starts a short attack, they don't fight that, they jump on the bandwagon.
Naked shorting is what's at fault. The SEC is toothless in this area. People talk about the uptick rule, which is not a good solution, but prosecuting people, and putting them in jail, would stop these short attacks.
The real question is when to buy more....
I wouldn't worry. I would only worry if the selling could be linked to a reason or news. But the selling yesterday and today was primarily strategic shorting, selling, option manipulation, you name it. Questcor is a great company and was already undervalued. Now it is undervalued even more. Great buying opportunity here if you have any cash left on the table.
Sentiment: Strong Buy
I knew it would trend down yesterday and placed another buy order in 4 bucks under my first. That got filled. Today I expect QCOR to be down , perhaps as low as the 50 range. I have an additional order in @ 51.
Selling pressure is heavy the last few days.