low floater with the biotech flavor. this is the common target of the momo trader day trader types. they jack it up early on any news and hope it sticks... invariably it doesn't and we see the end of day fade as they close. now, these goons can help spike it on a meaningful catalyst like a ce approval or something, but were not going to see meaningful and consistent price move wo inst buying.... they weren't buying today as it was amateur hour. but, if they interpret the quarter and future as i do (good), than look for some nice back to back solid volume price up days. on an average day a 10k buy will spike the price. heck the hi freq racked it the other day with a relatively small market sell order that yanked it down 30pct or whatever. hard to accumulate when your buys jack up your next buy price. just look at the historical volumes... just my .02. mif we float back to 100k volumes no dice.... I want to see several 500k days, than a nice 1mil to blow the top!
the price action makes absolutely no sense at all. there was nothing in the cc that should have caused the price to come back down to pre earning levels. quite the contrary, positive earnings and positive outlook should have sustained the pre market levels of yesterday. i can only speculate that the shorts are pushing it down. short interest has been on the rise. institutions hold 62% so that doesnt leave much for flipping. one more point, this board is a cesspool of spam and bashers!