I know that today was a disappoinment to many, me included. But, if you put it in perspective, OMER held up pretty well.
Consider that OMER has/had an 18% short interest on October 31st. And, the volume was below average, today, too. So, I don't think there was much "REAL" selling going on. If there was, with that high short interest, OMER would have gotten killed today! MANY other biotech AND non-biotech stocks got hammered today!! And, many of them are GREAT companies with GREAT earnings and GREAT guidance. I follow 50 stocks on my watchlist, and only 12 went up today. Of those 12, three were up over 2%, two were up over 1%, and the remaining seven were up LESS than 1%. With a bad market and VERY high short interest, they were only able to push it down 4 PENNIES at its LOW of the day. We were one of the very few stocks to gain, today. I think we saw a lot of covering and going long today, and they were able to do it in their sneaky ways without causing the price to spike. I don't know how they do it, but I see it every day with many stocks. Sad, and frequently criminal (e.g. naked shorting), but true. In my IRA, I'm in a three-day waiting period for my sale of a stock yesterday. So, I can't buy OMER until the open on Thursday. For selfish reasons, I hope they keep it down for one more day so I can get in cheap first thing Thursday. GLTA.
"..."volume was below average"???...HAW!...yeah, right, but only because of the massive pump started in mid-September...since the bubble burst October 8, volume has been running closer to 500,000 -- mostly DOWN ticks courtesy of the SMART money!...HAW!!!...
Ain't called the Den of Thieves for nothing. Just hope you are on the right side of whatever direction they want to push it in. First run I was, this correction helped me give a lot back but I have averaged in at different prices and the clock is ticking on FDA Approval for OMS302.
I DID buy OMER in my non-IRA trading account today, for the first time ever. I've had it on my watchlist ever since the day after it exploded after the Wedbush upgrade. Unfortunately, I placed a buy order this morning at the Fibonacci 50% retrace level from the opening high of $8.10. So, I bought at $7.79. I should have known that with the VERY high short interest, they would AT LEAST fill the gap back to $7.49. And, when you see a stock open at its high of the day and the stock price is still well below that after 15 minutes, you can be pretty sure it's going to continue down from there. I should have pulled my order when I saw that happening. But, it was only for 190 shares, so I'm only down $60. And, I truly believe this will seem like a dirt-cheap price within days. Like I said, I'm hoping for one more "bad" day to let me bring $3500 into this Thursday AM. And, I plan on holding onto those shares for quite awhile. I don't want to make the same mistake I made by letting ACAD go at $4...UGH!!! I'm sorry you're somewhat underwater at the moment. Believe me, I know the feeling, and it does suck! It's sad how crooked WS is, but if you can learn to go with the flow, you can make some nice $ by trading. I learned the hard way after my divorce. While in depression, I chose to escape my emotional pain by diving head-first into day-trading. WS took me down FAST!! I over-reacted to every move up or down, depending on whether I was short or long. Of course, it's still impossible to know what's going to happen on any given day. That's how they take you down if you're trading. And, once I started losing big, I started going heavy on margin to try to get my money back. But, that only brought me further down even faster. I DID have times where I got way ahead, but instead of becoming more conservative, that only made me over-confident and I made even bigger bets on margin. I still have $125K in losses booked. So, I have NO worries about cap gains taxes. :-)