Adam has already won. Geez stop with the TA already kids. There is NO Technicals. Either you get approval and the stock goes +10 to around $18.41 based on my belief in unicorns and the fact that I actually believe my risk/reward at 4.14 is worth it. I said I would buy a chunk again and I DIDN'T LIKE ADAM'S STYLES OF REPORTING and suspicious timing.
Listen, if you bought the stock higher you were buying bc you were looking to ride the run up into an approval.
He took the stock from $7 to $4.50 down 35% so that's almost a TAPOUT for his un-named world. You were looking for it to go to $9 to sell. NO LUCK he beat you to the punch.
If your buying it now it's red or black....rejection or approval and nothing else.
This is it and by the pick up in volume it's going to happen very very soon so put your money down but stop yapping already. YOU JUST GOTTA BELIEVE
GTx said Monday it would talk to both the FDA and European regulators about the next step forward for the drug.
It said enobosarm did have a consistent effect on lean body mass when compared with a placebo. CEO Dr. Mitchell Steiner said in a statement that the company was confident the drug will provide a clinical benefit and possibly increase patient survival.
For me, the issue was not if to buy down here. It is when to buy. And that, by friend is where TA comes in. Today we already posted a new higher swing high after confiring the buy yesterday, suggesting the new trend is entact. Now getting another bull back to test the rising support trend line on the multiday 5m chart. A 78.6% retrace from yesterday's low, and back in the range 50% retrace of the Thursday - Monday range. As it was coming down, I liked the vol drying and so I place the order for the up cross of 4.34. and wham... just got my first fill of the day on $GTXI.
It's OPEX week in the middle of summer in a thin float battleground name, so yes, the equity TA will be pushed around as folks seek to square options positions.
But know with AF's erro filled thesis, you need to consider the possibility of a new catalyst: $TST might do the right thing and retract the article. If this occurs before the data readout, it will cause a serious spike as nervous shorts cover.
To play it safe, why not just buy like 8000 shares of $GTXI at 4.27 for 34k, and write 80 September 3 strike calls for a credit of 15k. If the stocks soars, fine, your not gonna get a super massive gain, but you will still make 6k. If the stock tanks, your breakeven is at $2.37 which is almost a 50% drop. Essentially, you arent gonna lose too much money unless it drops to like $1.50. I think this is the best way to play it, and I am strongly considering executing this strategy soon.