I can see a 5% to 8% sell off in AH trading. Some will take profits and others will try a new short position. I hope I am wrong but a 19% gain in one day is very hard to maintain w/o news to substantiate it, well short of the upgrade and the prelim. news from Japan. Just a clear warning to the shorts to abandon ship. Go KERX. Glad I added to position in $8.70's yesterday. Whew.
joseph, you are seeing things, as in NOT. We haven't had back to back upgrades on this strong in a long time. One at $24, the other at $20, and we are sitting at $10. That's what's moving it, because both analysts are feeling positive about the additional indications for the drug.
Why do you think there has to be a selloff when the stock is still 5% below the high that was set 2 weeks ago? It was the selloff that didn't make sense without any negative news--not the other way around. The stock still has plenty of room to run, and you are right about the shorts---today's move sgows them that they stand to lose a boatload on a short gone wrong, while any longs haven't lost a penny if they held, and even had a great oooportunity to increase their gains by buying that big dip. Plenty more upside with positive data coming in just 3 weeks. GREAT RECOVERY AND GREAT DAY FOR KERYX LONGS!
Sentiment: Strong Buy
Those who take profit AH today will regret it tomorrow as this will be over 11 on Thursday and will soon be pushing 12... (IMO). I know many say taking profit is not a bad thing and generally speaking it's not. With kerx, I think it's best just to hold tight for the rocket up!!! Good luck all longs...