is not surprising in last few weeks, no matter what short term rationalizations are being made. REASON/ Take a look at the 10 year chart on the piggy pup. It is a giant, 10 year-long cup. It has slowly building volume over last couple years, as the right side of the cup has been traced out. When it hit the 28 range,it ran into the chart resistance from way back 10 yres ago, and had to correct some, in a handle of fashion. Thus the retreat back to 21 ( WHich is TRULY a LONG TERM POSITIVE, to get rid of all the insecure holders of the stock in that entire price range of 21-30).) A 32% retracement is NOT unusual in such ultra long term patterns, and should only scare those who believe those technical gurus who tell you to sell out if a stock falls 8% from your entry point. THUS I see a little work in getting back up to the 28 -30 range, and then when this trading pattern breaks through the 28-30 range, there will be no overhead. Long at 27, 25, 24, 23 and 22. My screen saver tells it all ("FLYING PIGGY")
Good analysis of the long term chart. Most people on this board have no idea of what long term means. To some it means over the weekend.
What a lot of inexperienced posters (not you) fail to appreciate is that we just had a "hot" secondary. Those things are rarer than black pearls. It means the underwriters were very, very savvy, and all the institutions who bought the secondary are happy as clams.
Excellent point. I have traded short-term in the past, but when one finds a gem, a pearl, like Scios is right now, one buys it and puts it away... I am in at mid-20's, wish I'd bought in teens (which we'll never see again, those who did consider yourselves lucky)...but when Scios is at 100 (when, who knows...1 year, 2 years from now) who will care whether you bought at 21 or 24 or 27???