There has been some massive rotation with the volume we have been having. long timers taking profits and some new guys getting in. at this point, i just can't figure why anyone would sell. I did margin a few thousand yesterday in the low 9s and I did sell them premarket today -that was just to easy- but I would not sell my core holdings. I am watching orders go through at 9.40, and it just has to be people panicking. The risk reward here is amazing.
It amazes me people would sell here, I guess they dont know whats going on, or about the more than 17 offers for AMRN, or about the drugs itself, oh well..I know I wont be going anywhere until the big $$$ come in..
True longs and Institutions know where this is headed in the near future.
Too many people reading the technicals ... biotechs can be a rare breed that disregards technicals. Are we overbought? Sure. But we've been technically overbought since the $5's and the institutions have been gobbling up shares. Can't see them stopping now, as we get closer and closer to either a buyout or data results
Seems like yesterday we were trying to push this thing through $6 ... the msg board was a ghost town, and analysts began low balling target prices ... Here we are pushing $10 and yet we are still only in the bottom of the 2nd inning ...