the hedgies (pros) lick their chops on situtations like this, they know there is no news until best maybe november because ceo already stated z160 reults would be later this year, so they have a very certain window to walk this down from 7's to 3-4 range, easy money for the pros, what you say there could be a suprise news, on what? fov1101 has been up for sale for a year with no takers, and there has never been a novartis to P1 for zalicus, pretty good odds for the pros, and oh they do not post on yahoo message boards either, they don't need to - so you say well what about now over 5 the institutions will buy in, for what reaseon? they do not know results of z160 so why would they since it is very risky at best, watch them continue to bleed this over the next weeks (it does not have to be all at once) as they are so good at doing,
No offense...but I have been hearing this ever since August. When it first jumped up, people were like oh...its heading way down again. Then the same thing the last new high. It is a broken record man.
Will it pullback? Yes it will. But I have been reading posts for over 2 months now that just state what you just stated. Did any of it happen? No.
When it went to $.79 on 8/6, everyone said, see you back in the $.40's. When it went to $.84 on 9/6 people were like oh its heading back to the $.50's.
The stock would have to drop nearly %44 from its most recent high to reach $4.00 or $.66 pre-split. The last time it closed below $4.00 was on 8/28. Could it happen? Sure, anything is possible. Will it happen? Highly unlikely IMO.
There is no bleeding, just scared hands, and profit taking. After each new high since 7/31 there has been a pullback of 15-25%. Once we consolidate of the next week, it will begin moving again.
Good luck. If you want to short this being so close to results with a low float, more power to you. But just saying it is going to head to $3-4 based on nothing is just blabber.