I know that Scott from Seeking Alpha has written before and on other stocks, with his record being "hit or miss". However, I really think the explanation in his last blog about the misstatement in the PR after the CC brought buyers in. That, and the fact that $4.50, technically, was a strong support level. Just like on the way down, selling begets selling, the opposite is true here. Although, we're also due for news???
The biotechs are a heartbreak waiting to happen. It's either a homerun or a swing and a miss. But, if you are lucky and get 1 or 2 winners, you will do fine.
I'm not into this huge, but enough to make a nice difference. I learned a lesson (the hard way) about singling in on one biotech "with promise". Took me a couple years to make up the loss, if you know what I mean! ;-)
This is a HUGE market, and WHO wouldn't want an oral pain reliever as opposed to intravenous? With infections, mis-dosage, etc., and not to mention being much more economical, it's a no-brainer!
You are probably right. It was a welcomed sign. News could happen anytime I guess. I am very bullish on this stock and bought a little more this week. Lets hope we are right on this one. It would be nice for a change. The biotechs have been very fickle for me.