Remember the call I gave about POTG, GGRI or ORS? I said them to be a pump and dumps, in other words scam companies. This company, ONTY, doesn't make any difference.
ONTY was pumped by PAID newsletters (about $250K total used for promoting the stock) two months ago. The guys who paid for the promotion were the executives or other stockholders. Otherwise, this stock couldn't have gone up 300% in less than a year with $0.60 negative EPS and more to come this year.
When this scam is going to be exposed, ONTY will just go through the floor, probably under a dollar.
I own put options (that is taking a negative position in a stock with derivatives) and I'm short this stock.
He wasn't using a crystal ball, and was completely ignorant of the company's products, it's trial status, and the soon to come data look. he was a trader using only the fact that it had risen too high too fast, not appreciating the run up that occurs in bio stocks as they approach 'events'
ps I do appreciate the stats analysis you have posted of late, it has been solid and without apparent bias. I will add that now after yesterday's announced publication we can indeed state that the survival of the phase II study is stat sig for 3 year survival. It also maintains the same ratio of 2X alive in treated vs control out to three years.
You aren't very bright. You were told that this is a BIOTECH company with an impedning event.....and you continue to doggedly cling to your technical analysis. You obviously haven't been around Biotech for very long at all. It ain't your Mom's stock market, kiddo. Biotech revolves around one thing, primarily, and that is impending events - IE FDA approval, interum results, etc. You can take your charts and graphs and play with them all you'd like, but if you ignore the technology potential and the impending event, you have a very good chance of ending up screwed. Those of us - and there are a few - who have ridden out these events time and time again could care less about your technical noise - because you haven't a clue in this type of stock. You're measuring pennies, we're researching and anticipating and impending life changing events based on medical science.
ALWAYS THE SAME PATTERN GUYS!
What did I say, remember:
"I bought July 11 8.00 stike puts at 0.05". OK, now I'm cashing on this. 20K up for now.
Just a small lesson to everyone:
I am afraid that an old fashioned interest in our company's reason for being motivates most of us...
Again I am reminded of the parable of the money changers in Solomon’s Temple they were ethical money changers but they desecrated the temple.
Finally because others do something does not make it right.
And if you don't know technicals, I'm going to explain you this. The market usually tops, when there is high volume involved at the top. So, just open your Y!Fin ONTY 1 yr chart and you can clearly see, that there was GIANT selling right at the top. Do you know who these sellers were? Institutions, institutions, institutions. They have the liquidity (ie. they own the stocks that they can sell) and they just sold as much as they could.
That was the same thing with Enron, Allezoe Medical Holdings, Portage Resources, etc. Always the same pattern, always a reliable pattern.
Ok, fellow. Look at POTG (Portgage Resources). They are so called "mining exploration" company. They got NO revenues and about half a grand in cash. Their market cap was 700 MILLION dollars last week! In reality, this company will have no success and it's just meant to rob stupid and naïve scumbag investors. I can't see anything different in this.
Ok, if you want bio pumps, here you go: ALZM, TPIV, etc. The list is endless!
I think you are mentally confused about what is happening. This stock is not trading on any traditional "cashflow, PE" financial fundamentals. Please check similarities to Dendreon, Genentech, Biogen Idec in their early days.
This stock is being driven up because people "feel" that the probability, of getting a positive event to occur in the current late stage trials, have improved considerably. This stock has had a huge runup and there is sure to be some profit taking, maybe even till $8.
The ONTY stock drop today is nothing spectacular, JDSU is down 5%, GOOG is down 3.5% and they have not had a massive runup. The market just got hammered with the jobs news and you have been given a gift, cash it in. If you think the overall stock market will go up again, please close the short.