Anyone who does not believe that there were people playing this short the last few days and did not have trailing stops need only look at this morning's chart. Just as soon as the price rose above the prior high, we had a spike in both volume and price, both of which settled back down after the spike. That, my friends, was short covering triggered by stop losses.
This my friends was nothing more than the 3rd day in a swing cycle. ACRX may start behaving a little more predictable now that the bubble has been deflated.. ACRX was having shorter cycles 2-4 days vs 5-8 traditionally for a swing cycle. The overall market is finally acting "normal" Look at a daily chart with a 5sma and count the number of days it closes above or below It's a rather simple observation but very accurate in predicting moves. TV