Of all the stock I have bought I have never seen a stock so grossly manipulated as ACHN was today. Now here is the deal. I sold 1000 shares in premarket for $3.95 There were 835,827 shares sold premarket, the highest being $4.05
That is pretty active for premarket trading, almost a million shares. So, how is that this much trading took place unless the big seller was selling to himself to drive up the price? Once it got up where he wanted it he dumped his millions of shares, as I see it, or at least I suspect he did.
Does anyone have a good handle on how he or she could get away with this kind of manipulation without going to jail?
don't sweat the small stuff, your entry point is going to be low compared to where this company stock is headed. watch for a bullish reversal, yesterday's trading only reflects one day of tranding. don't judge the direction by one day of trading. The company has enough cash on hand and hasn't had to borrow from it's SEDA agreement. Gilead is making payment to the company. the recent positive test results showed proof the treatment can work and that they're ahead of schedule. stay positive
What we have here is resistance with shorts covering. We all know a big seller is in the market. The stock has now consolidated. The stock has now presented itself with an important entry point especially after the sell off. It cost the big seller to dump shares into the market. Shorts that where out of the money needed to cover and the big seller promised to unload so they wouldn't get hurt. Most, if not all of the shorts have covered as the price was declining. Should start seeing a reversal with higher entry points. Hope this help explains how shorts hardly get hurt when there's a big seller helping them short a stock. Had the big seller not honored his word, you might see a body floating down the river
One point though: I thought they tied concrete blocks to their ankles and sank them to the bottom of the river. Apparently stock traders are more gracious. After they kill them they let them float. How much short float was there anyways?
look at filings on Sec and you will see there has been a major holder selling out their position every time it gets into the 3.50 area. I'm sure we will see a filing soon and will see if they are done selling so the stock can run over 4.00 next