I disagree. To the best of my knowledge, Monday is the first day funds can buy into this stock. On top of that, Monday KERX announces earnings... I'm assuming after market close... That tells me, logically speaking, the fund managers will wait to see earnings (which will be strategically great from what I hear), and then buy in, with hopefully large numbers.
Even before earnings or with mediocre earnings there will be quite a bit of fund purchases regardless...I predict. In either case, I would hate to be out of KERX over this particular weekend.
If I was a risk taker, I may wait to see if there is one final push down on Monday to allow big money to get in cheap, but I think (JMHO) that they have pushed it as low as they can without violating their risk-return valuation. (It's expensive to drive a stock down, and you have to know when you reach the point of diminishing returns)
In any case, Tuesday is my day...I am even taking the day off in order to watch things...I liquidated all my other investments and put everything I have into KERX today. Unfortunately, I didn't wait til eod to do it. I managed to get 31,729 shares at an average price of $5.59. Even though I am down right now, I think I will be very well off by mid next week.
I am not totally stupid, I will watch and have a Max pain price in my head where I will sell. (but not with a stop loss)
Think I'll have a Scotch & Water and go sailing... GLTA, and God Bless, Skeet
I liquidated all my portfolio 2 days ago and will wait. I think funds will continue to unwind all stocks and i'm sure none of them have love affair with any. Kerx may be close to breaking $5 which would put a hold on mutual fund buying. I'm not sure for them whether they are ready to hit the buy button with the world economy on the cusp of another debt crisis. Anyhow the stock went from mid 2s to mid 6s so mid4s on a pullback would seem logical with strong support at $4. You saw what happened in 2008 to bio....i hold my breath
Are you on drugs? KERX used to be 90% owned by Funds. They will begin buying in now with only 13%. The FDA did not matter when DNDN flew from 6 TO NEAR 30 THEN FROM 30 TO 40 BEFORE THE FDA APPROVED. Yet another lying short or daytrader.