You ought to tell silly old JNJ about this. They are either recruiting for or about to launch about 40 different clinical trials for abiraterone in various prostate and breast cancers. Meanwhile, with MDVN up over 5% at this point today, the market also seems oblivious to this valuable insight.
The entire market reversed since it was options expiration today and huge profits for shorts and put options covered. Its the ultimate dead cat bounce after shorts are buying to cover to lock in profits.
Then they will short again when the price is higher- But it won't be as high as the last local high and then on the way down, will break another local low.
Its still in the Bears control now.
Its options expiration! DUH!